Course

Effective Procurement Strategies | SCMT.X401

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This new procurement strategy course is aimed at helping supply chain professionals as well as people new to the field, business leaders, and entrepreneurs optimize their effectiveness in sourcing, contract development, risk assessment, negotiation, and the rapidly changing technologies in the industry. When you integrate best procurement practices, you develop processes, strategy, and structure for an effective supplier and contract manufacturing supply base. Learn to maximize benefits for your organization in today’s competitive landscape.

It is highly recommended that students take "Evolving Role of Supply Chain Manager" as the first course prior to taking this course.

Learning Objectives

• Identify and explain the various methods of procurement
• Determine value and its application to product and service selection
• Identify leading trends and technology used in procurement
• Select the most appropriate solicitation method related to purchases made for your organization
• Compare and contrast the various negotiation techniques and strategies

Topics Covered

• Procure goods and service, and succeed in a competitive bidding environment
• Source effectively and maximize contractor engagement and product value
• Build specification and scope of work to maximize value and reduce cost
• Approach risk and reduce it
• Develop and manage effective contracts
• Negotiate and collaborate with internal and external partners
• Problem solve as a procurement leader
• Capitalize on IT licensing and new technologies
• Integrate best practices for value and cost reduction