Procurement - Improvement, Strategy and Managing Risk

Smeal College of Business

Smeal College of Business

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Who should attend

  • Senior Leaders who want to create a consistent foundation of supply chain strategy, language, and principles across their team.
  • Leaders in business units that interact and intersect with the supply chain
  • Newer and high-potential supply chain leaders
  • Managers addressing both strategic concepts and tactical application throughout the end-to-end supply chain.

About the course

More than just a source of competitive advantage, research shows us the critical role a firm’s procurement practices can play in its very survival. Our procurement track is designed to help supply chain professionals eliminate blind spots among suppliers, to identify exposure to risk, and to craft strategies and practices to both reduce risk and leverage opportunities to a firm’s advantage.

Program Benefits

  • Accelerator courses - leverage the same expert instructors that you expect from the #1 ranked supply chain department in the country
  • Participate from any location – all you need is access to the internet and a web browser
  • Focus on learning tracks - select what aligns with your organizational responsibilities
  • Develop a new network - Connect live with supply chain experts and other participants from across the country - learn how others are addressing similar issues
  • Develop a new level of understanding – we help you make the connection between concept and application to deliver immediate impact in your workplace

Program Content

Week 1: Improving Procurement Practices
Description

Firms are finding that they can indeed develop sources of competitive advantage by finding and/or developing excellent partners in procurement. Moreover, as corporate social responsibility becomes more important to consumers, where and how an organization sources its materials tells consumers a lot about the company and whether it “lives” its core values.

Topics & Takeaways

  • Procurement, Performance, and Competitive Advantage: read about influence and performance by studying the Penn State Supply Chain Model®, look at strategic variables with procurement, learn proven ways to cut spending
  • Continuity and Resiliency: investigate supplier selection criteria, view and create an ideal supplier scorecard, discuss a metric missing in your supplier’s scorecard
  • Mitigating and Managing Risk: take a closer look at supplier continuity and supplier development strategies, reflect on the Goldilocks Procurement strategy
  • Building a Stronger Business Case: read about the impetus for Supply Management and apply the COMMIT approach internally and synthesize our work from the week

Business Impact

  • Leverage your firm’s purchasing power to improve performance
  • Analyze your current supplier selection process and metrics
  • Adopt the use of a proven supplier development model called COMMIT

Week 2: Strategic Sourcing for Improved Performance

Description

Take a critical look at distribution network strategy in order to uncover the possibilities in your organization. Join your cohort in exploring the factors and stages of a distribution network strategy and apply possible solutions to a simulated case study, learning what takeaways will be useful in your leadership role.

Topics & Takeaways

  • Sourcing for Performance: identify critical leadership skills for more effective sourcing
  • Sourcing Strategies: apply the content to develop insight on how to improve your organization’s sourcing
  • Challenges and Opportunities of Globalization: explore the balance between value and risk
  • Strategic Sourcing and Competitive Advantage: reflect on your company’s competitive initiatives, discuss how customer demands will change in the future and how that will alter the competition

Business Impact

  • Improved alignment with supply chain partners
  • Demonstrated understanding of supplier relationships and production needs

Week 3: Managing Supply Chain Risk

Description

InManaging Supplier Risk, you will investigate the ability of your supply chain organization to minimize, react to and resolve disruptions in the supplier network. The experts will present a supplier failure scenario to prompt dialogue around recovery tactics. You will work together on the components of a continuity and resiliency plan and reflect on how to transfer the learnings to your own organization to solve real business challenges.

Topics & Takeaways

  • Supply Chain Disruptions: brainstorm and collaborate on how to respond to supplier disruptions
  • Mitigating and Managing Supplier Risk: reflect on who the at-risk suppliers are in your supply chain and discuss risk levers in the supply base
  • Continuity and Resiliency in the Supply Base: assess how well your organization does at managing and mitigating risk, draft a continuity and resiliency plan using a provided toolkit
  • Supplier Risk Reduction Tactics: research a best in class supplier Code of Conduct, discuss technology and supplier risk management

Business Impact

  • Improved ability to recognize potential at-risk suppliers
  • Increased knowledge of how to mitigate and manage at-risk suppliers
  • Strengthened resiliency against unpredictable disruptions to your supply chain

What You’ll Learn

  • Find ways to develop sources of competitive advantage by finding and/or developing excellent partners in procurement. Moreover, as corporate social responsibility becomes more important to consumers, where and how an organization sources its materials tells customers a lot about the company and how it truly “lives” its core values
  • Learn why sourcing is truly a strategic function in the organization and why forms have matured from the legacy of purchasing to having the procurement function be a competitive advantage.
  • You’ll investigate the ability of your supply chain organization to anticipate, minimize, react to and resolve disruptions in the supplier network. Learn the components of a continuity and resiliency plan and reflect on how to transfer the learnings to your own organization to solve real business challenges.

Experts

Christopher Craighead

Expertise: Supply Chain Management, Procurement Education: 1990-East Tennessee State University , B.S. Computer Science 1993-East Tennessee State University , M.B.A Business Administration 1998-Clemson University , Ph.D. Operations Management Christopher W. Craighead is the Dove Professor ...

Procurement - Improvement, Strategy and Managing Risk at Smeal College of Business

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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.

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