Class: MBA EVE-Elective (A)
Course: Procurement in Supply Chain
Class Timing and Room Session Day(s) Credit Hours: 3/class hours(per week) | 0/lab hours(per week) Consultation Time Monday to Friday
Procurement is much more than simply buying goods and services. Interest in the performance of the procurement function has been fast growing in recent years with ever increasing business competitiveness and the pressure to bring value to stakeholders. Companies are turning their attention to effective global supply chain and strategic procurement for survival and value creation. The amount of money flowing through procurement spend is phenomenal; ranging from 50% to 85% of company revenue. In the search for low cost, high quality goods and services, companies worldwide have turned to different continents for various aspects of sourcing, ranging from sourcing to procure-to-pay transactional processing. This MBA course works with literature publications, select case studies and student projects in building the fundamental knowledge of global supply chain management and strategic procurement for students. Course Objective
Students learn to appreciate how Procurement plays a critical functional role in a company and its influence and interdependencies with other corporate functions, such as R&D, manufacturing, support, finance, etc. Students learn the elements required in achieving a world-class procurement organization and a competitive global supply base. Students become well versed in the strategic sourcing process and the continued supplier performance management methodologies. Students are aware of the ethical, contractual, and legal issues faced by procurement professionals. Students are introduced the changing procurement environment and skill sets with the advancements in technology, such as eCommerce and reverse auction platforms along with CRM and SRM concepts....
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