Compulsory

2

Teaching Hours and Credit Allocation: 30 Hours, 6 Credits

Course Assessment: Exam & Coursework

The purchasing and supply function is assuming an increasingly important role within organisations, and its potential contribution to improved business performance has been recognised. Specialisation of labour across industries and outsourcing trends entail that a large share of the value of products and services is created outside the focal firm, and in collaboration with suppliers. Being originally seen as a support function dealing with administrative tasks, Purchasing and Supply Management (PSM) has been elevated to a strategic level due to its direct impact on cost reduction, quality improvement and innovation. As well as capturing maximum value out of supplier relations, the purchasing and supply function has a broad influence within the firm by being involved in areas such as new product development (NPD) and launch, marketing and logistics and supply chain management. The aim of this course is to introduce participants to the key principles, theories and tools of PSM. A number of key aspects will be considered: from crafting a purchasing strategy, setting up an efficient purchasing process, evaluating suppliers, and managing supplier involvement and integration in the NPD process, to planning and conducting negotiations in an effective way.