Optimize the "Supply" in Supply Chain Management!
Strategic sourcing enhances efficiency and value, ultimately impacting the profitability of your entire organization. In this essential course, you’ll learn how to develop and implement a procurement strategy that aligns with your overall competitive strategy.
This course is available in a Master Certificate program.
Real business case studies and best practices provide practical applications you can use on the job immediately. As you progress through the course,you’ll acquire the key skills to negotiate effectively, structure your purchasing department, evaluate and select suppliers using an analytical hierarchy process, and manage cost across the entire supply chain.
What You’ll Learn
Introduction to Strategic Sourcing and Supply Management
- Evolution, objectives and responsibilities of supply management
- Trends and pressures affecting supply management
- How to determine the right supply chain for your product
The P2P Process, Purchasing Organization, and Commodity Strategy Development
- Best practices for the procure-to-pay process (P2P)
- Role and structure of purchasing departments and where they fit in the organizational structure
- 7-step process to develop your commodity strategy
Supplier Evaluation and Selection and the Analytic Hierarchy Process
- How to define important supplier characteristics and evaluation criteria
- Strategies for evaluating your suppliers
- Ways to improve your evaluation and selection process
Supplier Performance Management, Quality Management and Supply Base Integration
- Strategies, tools and techniques for measuring and managing supplier performance
- How to apply quality management concepts to manage supplier quality issues
- Understanding of enterprise resource planning (ERP) systems
- The value of quality buyer-supplier relationships and developing your suppliers
Global Sourcing and Outsourcing
- How to analyze global trading partner data
- The role of international purchasing offices (IPO)
- When and how to enlist third party support
- Global trends and research on outsourcing
Electronic Procurement and Strategic Cost Management
- Objectives, benefits and challenges of e-procurement
- E-procurement tools that yield the greatest benefits
- Cost management across the entire supply chain
- Value engineering, value analysis, cost analysis, and price analysis techniques
Negotiations, Law and Contract Management
- Four principles for getting to yes
- Effective negotiation tactics and methods
- Laws of agency and buyer’s personal liability
- Fundamentals of contract law and the Uniform Commercial Code (UCC)
Ethics and Green Procurement
- How your firm can promote ethical behavior
- Drivers of environmental sourcing and sustainability
- Generally recognized environmental standards and certifications
Who Should Register?
This eight-week, 100% online course is ideal for procurement and sourcing professionals in any industry who are responsible for creating competitive environments and identifying cost savings opportunities. It is also a must for managers and executives who are responsible for supply chain processes and developing initiatives to support supply chain performance. Students may find it helpful to have some familiarity with the fundamentals of an integrated supply chain, which are covered in the Supply Chain Management I and II courses.