Course Code: SCM 3050
Academic Year: 2024-2025
The quality of purchased components has a major effect on the quality of the finished product, and it is estimated that, on average, more than 50% of a company's revenue is spent on purchasing. In this course, students will gain an understanding of the strategic and operational roles that purchasing plays in contributing to an organization's competitive position and profit. Students will explore the evolution of traditional purchasing to the collaborative supplier-customer relationship found in contemporary and leading edge supply chain management. All aspects of developing and maintaining an effective procure-to-pay process, including purchasing strategies, outsourcing, price determination and contract management, supplier relationship management (SRM) and legal aspects, will be covered in this course. Students will also analyze and determine the "make" versus "buy" and "single source" versus "multiple suppliers" strategies and the associated risks. Specific issues of public purchasing and the purchasing of services are included in the content of this course.