LSCM 4300 - Sourcing & Procurement in LSCM

Description

A course that focuses on the processes to identify and manage suppliers for goods and services to support operations, including sourcing, contracting, negotiations, buying procedures, cost and price analysis, vendor relations, auditing and inspection, supplier relations, and applications to information technology systems.

Learning Objectives

• Examine purchasing terminology, components, and techniques and how they relate to supply management.
• Distinguish the common purchasing influences for all organizations.
• Distinguish the multiple levels of strategic sourcing and planning.
• Analyze supply activities and responsibilities.
• Examine the supply management process that includes: Strategy and Goal Alignment, Process Compliance, and Information Flows
• Examine the make or buy, insourcing, and outsourcing decisions that are key strategically for any organization.
• Formulate how to set prices, establish appropriate strategies for price adjustments, and manage supply risks.
• Examine why managing costs will contribute effectively to organizing goals and strategies.