Improving Procurement Practices

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

Target audience

  • Newer supply chain leaders who want to study introductory concepts
  • Supply chain leaders addressing operational issues within the supply chain

Expectations

  • 5 daily lessons, approximately 30 minutes of activities in each of the first four days
  • 60 minute virtual live event with Expert Faculty on the capstone day
  • Expert Guide support of questions, comments, and group engagement and collaboration
  • Active participation – devoting your time to structured dialogue, private reflection, and deliberate practice will increase your knowledge and takeaways
  • Practical application – you can directly try and apply what you learn each day

Expert Faculty

Dr. Chris Craighead
Affiliated Faculty in Supply Chain Management, Penn State University

Additional Material