Global Procurement and Sourcing

This course will teach you the necessary negotiation skills to be successful. We will be covering the overall negotiation process, how to establish objectives (e.g.Most Desirable Option (MDO), Least Acceptable Alternative (LAA), Best Alternative To a Negotiated Agreement (BATNA)), what type and how to gather facts and collect information, the importance of developing a plan, learn your negotiation style, how to use, recognize and counter various tactics, understand the difference between positions vs. interest and need and wants, and lastly what you need to do after the negotiation is complete. This course will be supported by video, readings, a personal style survey, a podcast, and a required "mock" negotiation with a Peer group assessment.

This Course includes basic information on procurement, Importance of the procurement organization and its’ role in the organization, cost vs. value, processes such as the use of RFQ, RFP, RFX, Differences between direct and indirect procurement, and Stakeholder management The course will supported by videos, readings and a required case that will be assessed by a peer review. In addition, a Practice Assessment (multiple choice) is available to the student. This should be helpful as there is a Final Assessment (40 Multiple Choice) at the end of the specialization in Course 7 that is required to obtain the certification.

After a warm Welcome to the Global Procurement and Sourcing Specialization, I will provide a brief introduction to the specialization and its courses covering the following: -Instructor Biography -Who should take this course -Flow of the course Following the introduction, the student will get the opportunity to learn about some of the current challenges facing procurement and sourcing professionals today through reading ten current articles ranging from what is procurement to how to collaborate with suppliers. These articles/knowledge will be a foundation for later courses on how to use tools, processes and improve skills to address many of these opportunities. There will be a brief assessment (true/false) of your knowledge gained from these articles.

In this course you will learn some tools to evaluate supply markets from a Strategic level (e.g. Macro) (PESTLE) to Tactical level (e.g. Industry) (Supply Market Segmentation, Five Forces, Supply Chain Mapping) to Operational Level (Supplier) (Informational Sources, SWOT, Financial Analysis) A total of seven "proven" tools will be provided. All of these tools will help you develop the right strategies, reduce risks, and make the "right" supplier decisions. Required reading, supplemental videos and a required case with a Peer Group Assessment will help you increase your learnings.

This course will cover Supplier Selection and Evaluation, Contract Management, Quality & Risk Management, and Ethics. One of the important decisions that a Procurement professional makes is selecting the right supplier.We will cover how to evaluate suppliers, using a very simple evaluation tool, to select the right suppliers. In contract management we will expose you to six different types of contracts that a procurement professional can consider for the contract. We will highlight 10 risk management strategies that will mitigate risks for your firm. Lastly, we will cover the very important topic of procurement ethics-what to do and not to do in ethically dealing with suppliers. In addition to the videos, there are reading materials, and two cases to support your learnings. Both cases will be assessed via a Peer Group.

This course will provide a detailed overview of a Strategic Sourcing Process (7 step Process): Profile the Category, Develop a Category Sourcing Strategy, Generate Supplier Profile, Choose Competitive Selection or Supplier Development, Select Supplier(s) and Negotiate, Implement, Continuous Improvement/Supplier Relationship Management This course learnings will be supported videos, readings a a required case with peer review.