Course Outline
First session: The initial session introduces procurement and its importance, supplier relationships, the sourcing process, and the concept of value-based sourcing. The second half of the session provides an orientation on value-risk mapping, explaining why it is crucial to categorize suppliers and adopt distinct strategies for each group. We will also explore when and why we outsource. Finally, we will address price volatility and supply chain variability, discussing how to structure contracts to tackle these challenges.
Second session: This session focuses primarily on optimizing procurement activities, specifically how to trade off between purchase cost and service level. We will conduct home exercises using optimization and linear programming to develop minimum cost models that account for service levels. The modeling will also incorporate various product offerings, such as standard bids, minimum volume bids, and volume discounts. This session requires extensive use of Microsoft Excel to develop and optimize different models, providing participants with valuable insights into the trade-offs involved in selecting an offer.
Third session: The third session concentrates on supply chain coordination, addressing problems caused by demand variability and a lack of information sharing among supply chain partners. In an environment of uncertainty, procurement and supply chain managers must reduce the magnitude of information delays that lead to the so-called bullwhip effect.
During this critical 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 latter half of the session, we will examine the uncertainty associated with customer demand, develop simulation models to mimic this uncertainty, and propose solutions to address it. This session offers participants key insights into how trust impacts revenue maximization for supply chain partners.
Requirements
N/A
Testimonials (2)
trainer knowledge
SUNEEL jee - House of Spices India
Course - Six Sigma LEAN Yellow Belt
About the sense of humor and energizing us to focus more in the topic.
