Fundamentals of Procurement and Supply Chain Management

Course Overview:

The “Fundamentals of Procurement and Supply Chain Management” course is an essential foundation for professionals seeking to develop a comprehensive understanding of procurement and supply chain principles. This course delves into the core concepts, strategies, and operational practices that drive effective procurement and supply chain management. Through a combination of theoretical knowledge and practical case studies, participants will gain valuable insights into managing and optimizing procurement processes and supply chain operations.

Topics Covered:

1. Introduction to Procurement and Supply Chain Management:
   • Definitions and Key Concepts: Explore the fundamental terms and principles that underpin procurement and supply chain management. Understand how these concepts interrelate and impact business operations.
   • The Role of Procurement in Supply Chain Management: Learn how procurement fits into the broader supply chain framework, its objectives, and its influence on supply chain performance.
   • Overview of Supply Chain Stages: Gain a thorough understanding of the supply chain stages, including sourcing, production, distribution, and delivery. Understand how each stage contributes to overall supply chain efficiency and effectiveness.
2. Procurement Strategies:
   • Strategic Sourcing vs. Tactical Procurement: Differentiate between strategic sourcing and tactical procurement, and understand their respective roles in optimizing procurement processes.
   • Supplier Selection and Evaluation Criteria: Learn the criteria for selecting and evaluating suppliers, including factors such as cost, quality, reliability, and sustainability.
   • Contract Management and Negotiation Techniques: Develop skills in managing procurement contracts and mastering negotiation techniques to achieve favorable terms and build strong supplier relationships.
3. Supply Chain Fundamentals:
   • Supply Chain Design and Configuration: Study the principles of designing and configuring supply chains to meet organizational goals and respond to market demands.
   • Inventory Management Techniques: Explore various inventory management techniques to optimize stock levels, reduce carrying costs, and improve inventory turnover.
   • Demand Forecasting and Planning: Understand the methods and tools used for accurate demand forecasting and planning to ensure the right products are available at the right time.
4. Case Study:
   • Analysis of a Real-World Procurement Strategy: Examine a case study of a major company’s procurement strategy, focusing on how it managed its supply chain during a disruption. Analyze the decisions made, the challenges faced, and the outcomes achieved.

This course will provide you with the essential knowledge and skills to begin or advance your career in procurement and supply chain management, setting a strong foundation for further specialization and growth in the field.