Principles Of Procurement And Supply Chain Management Pdf

[Heberto Calderon]

ThePrinciples of Procurement and Supply course at CTS College delves into the critical role that procurement and supply play in influencing an organization's profitability, constituting a substantial 70% of its overall success. Acknowledging the profound impact that even minor cost savings can have on strategic operations, this introductory course serves as a comprehensive exploration of procurement and supply principles. It equips students with a thorough understanding, empowering them to engage in efficient and effective procurement practices, whether for their employer or for their own entrepreneurial ventures.

The course serves as a foundational step for individuals aspiring to navigate the intricate landscape of procurement, emphasizing strategic decision-making and operational efficiency. By the end of this course, participants will not only grasp the theoretical underpinnings of procurement and supply but will also possess practical insights to initiate and manage procurement processes adeptly.

This course will be delivered via live online classes. Students will be provided with a link to join the class as well as other relevant instructions at least one day before the start of each class. These classes are also recorded - therefore students have the option to review the course content as often as they like.

In order to receive the CTS College certificate of completion or participation for this course, students must attend a minimum of 75% of classes and pay any outstanding fees. Where applicable, students who do not meet the necessary assessment requirements, but attended the required amount of classes would receive a CTS College certificate of participation.

Certificates would be provided in digital format which would allow students to access, print and share their certificates 24/7 on demand. For more information on our digital certificates please click here.

Students can be given a payment plan where the initial downpayment is made, with an arrangement for the remaining balance to be paid over the duration of the course. Please feel free to contact us to discuss a payment plan customised for you.

At CTS College, we believe in crafting an extraordinary student experience. This is why we have selected Mr. Wesley Superville to facilitate the Principles of Procurement and Supply course. Mr. Superville not only imparts knowledge, but creates a learning experience where students feel valued and appreciated. He is also committed to shaping a transformative learning journey and creating an educational adventure that goes beyond the ordinary.

Wesley is passionate about educating persons about the importance of Procurement and Supply and the critical roles that Warehousing and Inventory Management play throughout the supply chain. He continuously advances his education and lets his work performance and student feedback do the talking.

The UN Global Compact encourages companies to make sustainability a priority from the top of the organization. If the chief executive sees the supply chain as an extension of their workforce and community, the company can set expectations for best practices across its supply chain. These can include key areas such as selection, training, auditing and remediation.

Doing so promotes a broader understanding within an organization of how decisions made, beyond procurement, can affect the supply chain. For example, legal staff,

product developers and marketing all can have an impact. In addition, companies must look at their supply chain as a whole, and consider the suppliers that may have the most significant challenges to address.

To help, the UN Global Compact we develop guidance, such as the Decent Work Toolkit for Sustainable Procurement, the Guide to Traceability and the Practical Guide for Continuous Improvement to assist companies in developing more sustainable supply chain practices. We also host Academy sessions and training on topics such as sustainable procurement, decent work occupational health and safety and family friendly workplaces in the supply chains.

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Post-University, Ford gave me my entry into Procurement and over the next 4 years it provided me with strong foundational skills and thought processes which to this day heavily influence the way I think and operate. That includes how I approach the subject of value, and more specifically how to define it and, generate it!

3.Once an overall strategic direction for the category has been agreed, leverage the knowledge gained from point 2 to select those Value Levers which will enable the realisation of that strategy and best achieve the Value Outcomes sought.

When you look at the second value quote referenced at the beginning of this article, it's broken into 2 parts. Part 1 makes the recommendation that less time should be spent reducing costs. That's not where my concern lies. There are many situations where investing less time, effort and resource reducing costs makes perfect sense. Maybe the market has turned in such a manner which it's no longer possible OR maybe it's one of the lesser important Value Outcomes that now needs to be pursued and attention should turn more to other Productive, or even Progressive ones.

The concern lies with the fact that Cost Reduction (or other commercial related activity) is not classified as Value when infact we know, based on the evidence above that it is. The degree to which it is sought and what type/magnitude of outcome would satisfy the organisation is very much category and circumstance specific.

Being clear on what constitutes value, how it is derived, and the multiple options open for triggering it is a critical set of principles and practices that should exist in any procurement professional's toolbelt. Value is a destination and teams will only know if/when they have reached there if they know in advance exactly what that looks like and how much is required for any given outcome topic. Protective (risk management) related value may be all that is sought OR, a balanced portfolio of outcomes from all 3Ps may be critical to realise if the spend is truly strategic and largely untapped to date. So the next time you hear someone making reference to value within a procurement context, try to determine whether it's being used in the correct context or there is a learning opportunity which may just change their complete outlook on what constitutes a good category strategy.

If you enjoyed reading this article and you would like a copy of the Value Levers cheat sheet (containing 70+ recommendations on how to generate category benefits) for use within your team or with stakeholders to facilitate category strategy development workshops then please like, share and leave a comment.

For successful operations, organizations must understand the ethical issues in supply chain management. Procurement and supply chain management often involves a complex series of business operations, typically on an international scale. It is also necessary to understand national and international laws.

The first consideration is human rights and labor conditions. In many cases, an organization in one nation will often purchase materials from another nation with different human rights laws and working conditions.

For example, the average hourly wage in India is $1.26, according to Insightful. This hourly wage is far lower than the minimum hourly wage in the U.S., which is $7.25 according to USA.gov. However, there is no law that says overseas workers must be paid at the U.S. wage scale. As a result, an organization must ensure that its partners are not engaging in exploitative labor practices and continue to uphold basic human rights.

An organization should be transparent with its supply chain operations. Hiding information about failures will usually not keep people from eventually finding out the truth. Companies must be transparent about their operations and hold their partners to the same standard. This transparency can also help prevent fraud and corruption.

An organization must ensure fair competition for the materials used in the company's supply chain. Procurement processes must be fair and transparent to ensure that competition is based on quality and value, rather than corruption. This adherence to fair competition typically includes avoiding favoritism, nepotism, or bribery in the supplier selection process.

An organization needs to ensure that its supply chain is environmentally sustainable. As concerns about climate change and environmental degradation continue to grow, companies are increasingly expected to minimize their ecological footprint by:

In addition, companies need to consider the local impact of their operations on local communities, such as displacement, environmental damage, and economic disruption. In addition, they should adhere to governmental environmental policies.

It is vital to ensure workforce safety in the host nation. Some suppliers may skimp on quality control to maximize profits and save on production costs, leading to unsafe working conditions, unreasonable working hours, and unsafe products. However, companies have an ethical obligation to ensure product safety and quality and to reject partners who don't meet these standards. Inspecting physical work areas can help supply chain professionals to identify safety and quality issues created by cutting ethical corners and lead to corrective measures to protect workers, products, and customers.

Ethics and supply chain management are related in various crucial ways. As businesses become more global and more complex supply chains are created, ethical considerations have become increasingly significant to supply chain management. There are three other areas where supply chain ethics and management overlap.

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