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Supply Management (605)
Credits: 3

   

Fifty percent or more of an organization's funds may be expended in purchases of material and services through purchase orders and subcontracts. The success of a firm depends greatly on the effective man-agement of its purchasing and supply management function. In most leading firms today the purchasing or procurement function has expanded to become supply management. This course provides a practical framework for how firms manage the enterprise-wide functions of purchasing and supply in today's busi-ness environment with an increased focus on supply-chain issues. The course covers the conduct and management of the purchasing and supply management function - how that function interacts with the other principal business functions, including product development, marketing, operations and finance - the conduct of the acquisition process, including the determination of requirements, supplier qualification and selection - and the management of supplier relations and performance.

Subject covered include:

Supply Management Overview Supply Management: An Organization-Spanning Activity
Supply Management: Implementor of the Firm’s Social Responsibilities Buyer-Supplier Relationships
Cross-Functional Teams Quality Management
Total Cost of Ownership e-Commerce
New Product Development Specifications and Standardization
Procurement of Equipment Purchasing Services
Outsourcing: To Make or To Buy Sourcing
Global Supply Management Pricing
Cost Analysis Types of Compensation
Negotiation Relationship and Contract Management
Supplier Development Ethical and Professional Standards
Legal Considerations Institutional Supply Management
Government Procurement Implementing World Class Supply Chain Management

Increase Your Understanding of

• The supply management process
• Buyer-seller relationships
• Legal and ethical considerations
• Outsourcing
• Supply chain management

Improve Your Ability to

• Organize the supply function
• Make sourcing decisions
• Develop suppliers
• Price and negotiate

Professors: Keith Wade, B.A., M.B.A., Ph.D. (pending)
Text: “Purchasing and Supply Chain Management,” by Robert Monczka, Robert Handfield, Larry Giunipero, James Patterson, Cengage Learning

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