PLSM 552: Strategic Procurement Management

Description

COURSE OVERVIEW

This course is seeking to expose students to the strategic view of the procurement function in an organization. The course is designed to explain to students understanding regarding the overview of strategic procurement, make or buy decisions either for insourcing or outsourcing of their needs, strategic supply selection and management concepts, sourcing strategies/supply strategies, category management in the business operations, supplier evaluation and selection processes, negotiation, contract, and conflict management in an organization, supplier development and management, supply quality and sustainability management, global/international sourcing and discuss procurement regulations, law, leadership, governance and ethics.

COURSE OBJECTIVE(S)

Upon the successful completion of the course, students should be able to:

• demonstrate an understanding of basic strategic procurement concepts.
• figure out the sourcing options available to pharmaceutical companies 
• build supply and supplier portfolios.
• apply key techniques and approaches for evaluating, selecting, and contracting suppliers for different categories of health/pharmaceutical commodities.
• apply relevant tools and tactics for managing supplier relationships with categories of suppliers.
• apply techniques for assuring supply quality and sustainability 
• appreciate procurement regulations, law, and ethics.

LEARNING OUTCOMES

On completion of the PLSM 552, Strategic Procurement Management course the students should be able to:

1. Explain the strategic view of procurement and its increasing contribution to profitability and strategic importance and its relationship with other functional areas.
2. Explain how procurement decisions are determined by the organization’s competitive priorities, its resource capabilities and the environment.
3. Identify the basic considerations for a procurement specification, supplier market research and for developing supply strategies for different supplier portfolios.
4. Identify and select suitable suppliers for the organization, the evaluation criteria, the challenges of buying from overseas and the importance of negotiating in procurement effectiveness.
5. Identify and negotiate the essentials of a contract, the different Incoterms, the role of logistics and how to deal with difficulties relating to contractual default and disputes.
6. Describe special procurement applications and buying situations in capital assets, services procurement, making in-sourcing and outsourcing decisions.  
7. Explain category management and its relevance to business operations and profitability.  
8. Describe Global and international sourcing and related information and the motivation for such decisions by an organization.
9. Explain the procurement regulations, laws, leadership and ethical considerations in procurement management in an organization.