MODULE OVERVIEW

Procurement is the process of acquiring goods and services by organizations.  Traditionally, procurement has not been thought of in a strategic sense.  As the percentage of production items that are purchased has risen, so has the importance of procurement.  Procurement is now one of the key strategic elements of an organization.  The goal of this module is for candidates to better understand the strategic role of procurement, as well as tactical approaches that support the strategy.

The focus of this module is on matters of strategic and tactical importance in procurement.  The module starts with a discussion of the key processes that support an organization's strategic procurement goals before comparing strategic and tactical procurement.  A comprehensive procurement strategy backed up by solid procurement tactics supports an organization's goal of providing customers with highly valued products.  Specific tactical matters are considered along the way.

MODULE GOALS

Upon completion of this module candidates should be able to:

• Analyze, discuss, and present case reports.
• Understand the elements of procurement strategy
• Develop procurement strategy
• Develop and apply tactics that support procurement strategy, including those related to processes, organization, supplier selection, and relationships, decision making, and technology
• Analyze or direct others in the analysis of make or buy decisions, price, cost, quality, inventory, and total cost of ownership
• Apply or direct others in the application of tools to evaluate suppliers and produce statements of work