22:799:608 - Global Procurement and Supply Management
Supply Management is the overarching cross-functional management framework that integrates all activities related to the acquisition and management of resources for the organization. It includes global sourcing, supplier relationship management, procurement and purchasing. Supply Management is now recognized as a key strategic initiative to create value for the corporation. This course reviews the demands placed on today's procurement and supply management from the firm’s stakeholders and demonstrates their impact on the competitive success and profitability of the organization. Furthermore it describes ethical, contractual and legal issues faced by procurement, and recognizes the expanding strategic nature of supply management. The major areas covered are procurement as a functional activity, and how effective supply management impacts on total quality, cost, delivery, technology, and responsiveness to the needs of a firm's external customers (insourcing/outsourcing, supplier evaluation, supplier development, and global sourcing). We introduce the tools, techniques, and approaches for managing the procurement and sourcing process (cost/price analysis, negotiations, and contract management). Case studies and outside speakers will be used to illustrate the issues discussed in lectures.