Course Details
Subject {L-T-P / C} : SM6451 : Strategic Procurement { 3-0-0 / 3}
Subject Nature : Theory
Coordinator : Dr. Arvind Kumar
Syllabus
Unit 1. Purchasing: Scope and Development, Service Principles for Procurement, Procurement’s Impact in the Organization, Procurement as a Profit Center, Outsourcing Methodologies. 8 Lecture
Unit 2. Global Strategic Sourcing: Strategic Sourcing Process, Cultural Considerations for Global Sourcing, Developing a Global Sourcing Strategy, Strategic Sourcing Decision Making, Implementation of Strategic Sourcing. Supplier. 8 Lecture
Unit 3. Supplier Research and Market Analysis: Conducting Supplier Research, Conducting Market Analysis, Supplier Evaluation and Selection - AHP, Supplier Selection Criteria – House of Quality, Predicting Supplier Performance, Inventory Management. 8 Lecture
Unit 4. Art of Negotiation: Developing a Negotiation Plan, negotiating with Suppliers, Supplier’s Psychological Warfare, Negotiating in Specialized Situations, Managing Supplier Relationships and Performance. 8 Lecture
Unit 5. Social Responsibility in Procurement: Ethics and Green procurement, Measuring Procurement Performance, Technologies and Services for Improving Procurement Performance, Specialized Areas of Procurement, Supplier Diversity and Sustainability. 8 Lecture
Course Objectives
- To develop an in-depth understanding among the students about procurement and all its key concepts.
- To introduce students to the art of negotiations required in building good relationships with suppliers
- To familiarize students with the latest procurement strategies.
- To develop in-depth understanding of all aspects of import required for employment in their procurement career.
Course Outcomes
After completion of this course, the students shall be able to – <br />(i) Explain all the key concepts of Procurement with ease <br />(ii) Elaborate on the latest procurement strategies employed by the firms across different industries. <br />(iii) Able to employ the procurement strategies in their managerial career with ease <br />(iv) Synthesize the process employed in supplier selection <br />(v) Calculate the EOQ through Deterministic and Probabilistic approach. <br />(vi) Elaborate on the importance of negotiations to procurement. <br />(vii) Appreciate the role of negotiations in building good relationships in the business environment <br />(viii) Evaluate the Social Responsibilities of firms in their Procurements
Essential Reading
- Peter Baily, David Farmer, Barry Crocker, David Jessop, David Jones (2015), Procurement, Principles and Management, Pearson , Edition - 11th
- Fred Sollish, and John Semanik (2011), Strategic Sourcing Best practices, John Wiley and Sons , Reprint: 2019
Supplementary Reading
- Booth, C. (2014), Strategic Procurement, Kogan page , Edition - 2nd
- Louise Knight, Christine Harland, Jan Telgen, Khi V. Thai, Guy Callender and Katy McKen (2007), Public Procurement: International Cases and Commentory, Routledge