Course Outline
First session: The first session will introduce procurement and its importance, supplier relationships, the sourcing process, and the concept of value-based sourcing. The second half of the session will provide an orientation on value risk mapping, explaining why it is important to categorize suppliers and adopt different strategies for each group. We will also cover when and why to outsource. Finally, we will discuss price volatility and supply chain variability, and how to structure contracts to address these issues.
Second session: The second session will focus primarily on optimizing procurement activities, specifically how to trade off between purchase cost and service level. We will conduct hands-on exercises using optimization and linear programming to develop minimum cost models that account for service levels. The modeling will also include different types of product offerings, such as normal bids, minimum volume bids, and volume discounts. This session requires extensive use of Microsoft Excel to develop and optimize various models. It will provide participants with great insight into the trade-offs involved when selecting a bid.
Third session: The third session focuses on supply chain coordination, addressing the problems caused by demand variability and a lack of information sharing among supply chain partners. In the uncertain world where supply chain partners operate, procurement and supply chain managers must reduce the magnitude of information delay that leads to the so-called bullwhip effect.
During this important session, we will discuss the causes of the bullwhip effect, its impact on the supply chain, and how supply chain managers can reduce this risk among partners.
Finally, in the last half of the session, we will examine the uncertainty faced with customer demand, develop simulation models to mimic this uncertainty, and explore solutions to tackle it. This session will provide participants with valuable insights into the impact of trust in maximizing revenue for supply chain partners.
Requirements
N/A
Testimonials (3)
trainer knowledge
SUNEEL jee - House of Spices India
Course - Six Sigma LEAN Yellow Belt
Learning the basic meaning of lean and what steps are used to become lean.
Taggart Desmet - Orica Canada
Course - Lean Distribution: Implementing Lean in Distribution, Logistics, and Supply Chain Operations
Simulation exercises.
