Course Outline

First session: The first session will be an introduction on Procurement and its importance, supplier relationships, the sourcing process and what is meant by value based sourcing. In the second half of the session, an orientation will be held on value risk mapping, why is it important to categorize our suppliers and have a different strategy for every group of suppliers. When & Why we outsource. Finally, we will orient about the price volatility and Supply chain variability, how do we set the contracts to challenge those issues. 

Second session: The second session will focus mainly on optimization of procurement activities, how do we trade-off between Purchase cost and service level. We will home exercise using optimization and linear programming to develop minimum cost models taking into account service level. Also, different types of product offerings will be included in the modelling such as normal bids, minimum volume bids and volume discounts. This session requires extensive use of Microsoft Excel to develop and optimize the different models. It will be a great insight for the participants on the trade-offs that occur when we select an offer. 

Third session: The third session focus on supply chain coordination, the problems faced due to the variability of demand and lack of sharing information among the supply chain partners. In the world of uncertainty where supply chain partners operate. Procurement and supply chain mangers need to reduce the magnitude of information delay and its leading to the so-called bullwhip effect. 

In this important session, we will discuss the causes of the bull whip effect, what’s the impact of that disruption on the supply chain and how can supply chain managers reduce its risk among the partners. 

Finally, in the last half of the session; we will understand what is the uncertainty we face with Customer’s demand, develop simulation models to mimic this uncertainty and develop some solutions to tackle this uncertainty. This session will be a great insight for the participants on the impact of trust in maximizing revenue for the supply chain partners.

Requirements

N/A

 7 Hours

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Price per participant

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