In recent years, Procurement has undergone a significant transformation, evolving from a basic cost-cutting function to emerging as the foremost driver for value creation, risk mitigation, and sustainability, thereby promoting resilience and responsible practices within organisations.
You will delve into Procurement strategy, tactics, and operations, exploring the complexities of make-or-buy decisions, methods for building sourcing competencies and capabilities, strategic supplier selection, effective negotiation strategies, the management of supplier relationships and the ways technology enables access to data on cost structures, supply availability, lead times, financial and operational risks, and service and quality metrics.
You will be equipped with strategies for navigating current challenges in procurement and outsourcing in the current context of the geopolitical challenges and de-globalisation trends, and you will be able to address pressures for time compression, sustainability, and corporate social responsibility.
Workshop 32
Independent Study 118
Assessment Preparation 50
Group Presentation (15 minutes) worth 40%.
Examination (2 hours) worth 60%.
Reassessment Method: 100% Examination (2 hours)
On successfully completing the module, students will be able to:
1. Critically evaluate the strategic role of procurement within organisations and its influence on broader supply chain management activities.
2. Analyse the impact of sustainability, ethics, emerging technologies, and socio-economic trends on strategic, tactical, and operational procurement decisions.
3. Develop strategic and sustainable sourcing strategies by critically evaluating complex supplier and market information across domestic and international contexts.
4. Apply procurement theories and practices to outsourcing, negotiation, and contract management in order to design effective buyer–supplier relationships.
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