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Explain the elements of a strategic purchasing plan

Assignment Help Operation Management
Reference no: EM131963206

Part 1 Chapter 1- Purchasing and Supply Chain Management

Learning Objectives:

1. You will be able to describe the two unique types of purchasing categories in the business world.

2. You will be able to what Materials Management and Supply Management and why they are different.

3. You will explain how purchasing interacts with the other functions in a firm.

Part 2 Chapter 2- Purchasing Decisions and Business Strategy

Learning Objectives:

1. You will be able to explain why and how the purchasing functions are related to the strategic and competitive goals of a firm.

2. You will be able to describe the components of purchasing strategy.

3. You will be able to list and explain the elements of a strategic purchasing plan.

Part 3 Chapter 3- The Legal Aspects of Purchasing

Learning Objectives:

1. You will be able to explain what legal issues are associated with the purchasing functions.

2. You will be able to explain what purchasing authority is and give examples of types of purchasing authority.

3. You will be able to distinguish the differences and explain the similarities of an Invitation for Bid and an Offer.

Part 4 Chapter 4 and 5, Materials Management and Inventory Management

Learning Objectives:

1. You will be able to explain the activities involved in Materials Management as well as Inventory Management.

2. You will be able to discuss the relationship between purchasing, materials management and inventory management.

3. You will be able to explain how the materials management and inventory management concept makes a contribution to the profitability of a firm.

Part 5 Chapter 6- Just-in-Time (Lean) Purchasing

Learning Objectives:

1. You will be able to describe a lean production system.

2. You will be able to discuss the relationship between JIT and purchasing.

3. You will be able to list some advantages of JIT purchasing and analyze the impact of JIT purchasing on a buying firm.

Part 6 Chapter 7- Purchasing Procedures, E-Procurement, and Systems Contracting

Learning Objectives:

1. You will be able to explain steps in a purchasing cycle.

2. You will be able to list the main activities in a typical purchasing department.

3. You will be able to define routine versus non-routine purchasing/buying methods.

Part 7 Chapter 8-Supplier Selection and Evaluation

Learning Objectives:

1. You will be able to identify the qualifications of a good supplier.

2. You will be able to identify appropriate supplier selection techniques.

3. You will be able explain strategic supplier relationship management.

Part 8, Chapter 9 and 10- Strategic Outsourcing and Global Sources

Learning Objectives:

1. You will be able to explain what outsourcing is and its advantages and disadvantages.

2. You will be able to discuss the elements of strategic outsourcing.

3. You will be able to explain the basis of global sourcing and identify what factors/forces increase foreign trade.

4. You will be able explain how to be prepared to negotiate in different countries.

Part 9, Chapter 11-Supply Partnerships and Supply Chain Power

Learning Objectives:

1. You will be able explain the relationship between purchasing, supply partnerships, and supply chain power.

2. You will be able to discuss potential benefits of supplier partnerships.

3. You will be able to describe the different sources of power.

Part 10, Chapter 12-Total Quality Management (TQM)

Learning Objectives:

1. You will be able to explain purchasing's functional role in a firm within an overall quality assurance program.

2. You will be able to define what is meant by total quality management (TQM).

3. You will be able to list and describe some statistical process controls in TQM.

Part 11, Chapter 13 and 14-Price Determination and Bargaining and Negotiations

Learning Objectives:

1. You will be able to explain the relationship between cost and price.

2. You will be able to explain how price/cost analysis is used for the negotiation process.

3. You will be able to explain the difference between bargaining and negotiations.

4. You will be able to list and discuss the elements of negotiation.

Part 12, Chapters 15, 16, 17, and 18-Purchasing Transportation services, Equipment Acquisition and Disposal, Health Care Purchasing and Supply Management and Sourcing Professional Services

Learning Objectives:

1. You will be able to explain how to purchase transportation services.

2. You will be able to describe the equipment acquisition and disposal process.

3. You will be able to discuss purchasing in the health care field.

4. You will be able to explain sourcing professional services.

Format: APA

Number of Pages: 3 at least

Reference no: EM131963206

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