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Purchasing and Inventory Management in Today's Environment

Spend management is the fastest, most direct way to create measurable, sustainable bottom-line results. The Purchasing function has the ability to profoundly reduce a firm’s cost of materials and services, and has an immediate effect on a company’s financialsustainability. Long-term agreements with trusted suppliers provide visibility within the supply chain and enhance a company’s ability to respond to ever-changing market demands, enabling firms to provide quality products and services at competitive prices in a timely manner.

The class will cover Inventory Policies and Strategies with respect to Supply Chain Management, Costs and Valuation, and Business Strategies.  The class will look at the Procurement Organization and Objectives, Ethics, Interdepartmental Interactions, Quality Aspects, Source Selection, and Legal Considerations. Other topics include aspects of VMI (Vendor Managed Inventory), Buyer-Supplier Collaboration methods, Total Cost of Ownership Concepts, Negotiation Strategies, Make versus Buy Decisions, Global Sourcing, and Supplier Evaluation.