Fifty percent or more of an organization’s funds may be expended in purchases of material and services through purchase orders and subcontracts. The success of a firm depends greatly on the effective management of its purchasing and supply management function. In most leading firms today the purchasing or procurement function has expanded to become supply management.

This course provides a practical framework for how firms manage the enterprise-wide functions of purchasing and supply in today’s business environment with an increased focus on supply chain issues. The course covers the conduct and management of the purchasing and supply management function – how that function interacts with the other principal business functions, including product development, marketing, operations and finance – the conduct of the acquisition process, including the determination of requirements, supplier qualification and selection – and the management of supplier relations and performance.