Course Outline
First session: The first session will introduce procurement and its importance, covering supplier relationships, the sourcing process, and the concept of value-based sourcing. In the second half, we will explore value-risk mapping, explaining why it is essential to categorise suppliers and develop tailored strategies for each group. We will also examine when and why organisations choose to outsource. Finally, we will address price volatility and supply chain variability, discussing how to structure contracts to effectively manage these challenges.
Second session: The second session focuses primarily on optimising procurement activities, specifically how to balance purchase costs with service levels. Participants will engage in hands-on exercises using optimisation and linear programming techniques to develop minimum-cost models that incorporate service level requirements. The session will also cover various product offering scenarios in modelling, including standard bids, minimum volume bids, and volume discounts. This session requires extensive use of Microsoft Excel to develop and optimise these models, offering participants valuable insights into the trade-offs involved when selecting offers.
Third session: The third session addresses supply chain coordination, highlighting challenges arising from demand variability and the lack of information sharing among supply chain partners. In today’s uncertain operating environment, procurement and supply chain managers must reduce information delays that lead to the so-called bullwhip effect.
In this critical session, we will discuss the root causes of the bullwhip effect, its disruptive impact on the supply chain, and how managers can mitigate these risks among partners.
Finally, in the latter half of the session, we will examine the uncertainties associated with customer demand, develop simulation models to replicate these uncertainties, and formulate solutions to address them. This session will provide participants with deep insights into how trust can maximise revenue for all supply chain partners.
Requirements
N/A
Testimonials (2)
the approach for every team member in order to check the understanding of the materials .
Chivu
Course - Lean Six Sigma
About the sense of humor and energizing us to focus more in the topic.
