Determining Magnitude of Supplier Risks With the Component Criticality Matrix

Center for Technology and Management Education

How long?

  • 3 weeks
  • online

What are the topics?

Center for Technology and Management Education

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About the course

Procurement organizations are often responsible for managing thousands of parts that can be purchased from hundreds of suppliers. The large number of parts and suppliers makes it nearly impossible to manage each individual part. This is why procurement organizations relay upon stratification methods and other sorting methodologies to provide insights into GROUPS of parts. Using this approach allows purchasing professionals to focus on the important few parts while not wasting time on the trivial many parts.

The Component Criticality Matrix is a tangible, analytic tool that helps all purchasing professionals quantifiably determine how critical a part is to the overall enterprise. Once this is accomplished, special attention can be applied to manage the critical parts, their inventory levels and their impact on customer service.

Using provided templates, participants will learn how to build a Component Criticality Matrix and will execute real-time analytics in group labs on items within their specific purchasing ecosystem.

Experts

Alan Dunn

Alan G. Dunn is a management expert whose clientele has included some of the world’s most recognizable brands, Fortune 100 companies across a variety of business sectors, and departments of the U.S. government. With 40 years of experience, he has established a reputation as a leader in his field,...

Determining Magnitude of Supplier Risks With the Component Criticality Matrix at Center for Technology and Management Education

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Disclaimer

Coursalytics is an independent platform to find, compare, and book executive courses. Coursalytics is not endorsed by, sponsored by, or otherwise affiliated with any business school or university.

Full disclaimer.

Read more about Business Analytics

What will you learn from Business Analytics courses? First of all, you will learn about the profession of a business analyst, his duties, and what such a specialist does. You will get various soft skills, such as organizing teamwork, for example, acc...

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