Course Outline
First session: The first session will provide an introduction to procurement and its importance, supplier relationships, the sourcing process, and the concept of value-based sourcing. In the second half of the session, we will cover value-risk mapping, explaining why it is crucial to categorise suppliers and adopt distinct strategies for each group. We will also discuss when and why to outsource. Finally, we will address price volatility and supply chain variability, exploring how to structure contracts to address these challenges.
Second session: The second session will focus primarily on the optimization of procurement activities, specifically how to trade off between purchase costs and service levels. Participants will engage in home exercises using optimization and linear programming to develop minimum cost models that take service levels into account. 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 these models. It will provide participants with great insight into the trade-offs involved when selecting a bid.
Third session: The third session focuses on supply chain coordination, examining the problems faced due to demand variability and the lack of information sharing among supply chain partners. In a world of uncertainty, procurement and supply chain managers need to reduce the magnitude of information delay, which leads to the so-called bullwhip effect.
In this important session, we will discuss the causes of the bullwhip effect, the impact of this disruption on the supply chain, and how supply chain managers can reduce this risk among partners.
Finally, in the last half of the session, we will understand the uncertainty we face with customer demand, develop simulation models to mimic this uncertainty, and develop solutions to tackle it. This session will provide participants with great insight into the impact of trust in maximizing revenue for supply chain partners.
Requirements
N/A
Testimonials (2)
trainer knowledge
SUNEEL jee - House of Spices India
Course - Six Sigma LEAN Yellow Belt
About the sense of humor and energizing us to focus more in the topic.
