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

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.

After completion of this course, the students shall be able to –
(i) Explain all the key concepts of Procurement with ease
(ii) Elaborate on the latest procurement strategies employed by the firms across different industries.
(iii) Able to employ the procurement strategies in their managerial career with ease
(iv) Synthesize the process employed in supplier selection
(v) Calculate the EOQ through Deterministic and Probabilistic approach.
(vi) Elaborate on the importance of negotiations to procurement.
(vii) Appreciate the role of negotiations in building good relationships in the business environment
(viii) Evaluate the Social Responsibilities of firms in their Procurements

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

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