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Have you ever wondered how companies manage relationships with their thousands of suppliers? Sourcing is an important part of managing a successful supply chain. This course introduces you to the exciting area of supply chain sourcing. Part of a broader specialization on Supply Chain Management, you will master the supplier selection process and supplier segmentation. At the completion of this course you will have the tools and techniques to find the right vendors and maintain the right relationship with any one of your existing suppliers.
Procurement, Purchasing, Supply Management, and Strategic Sourcing
Welcome to the exciting world of sourcing! This module introduces you to the professor who is teaching the courses in the Supply Chain Management Specialization. After completing this module you will be able to understand the different levels of sourcing: the act of purchasing, the work that is performed in a procurement department, how to differentiate different supplier categories with strategic sourcing, and how to elevate a firm's performance with strategic sourcing.
Make versus Buy Decisions
In this module, you will review the principles of make versus buy decisions. What are the advantages and disadvantage of insourcing and outsourcing? We will review the risks and benefits of both, which will enable you to understand what goes into these decisions and why companies make them. In he assessment, you will review an outsourcing decision that a company or organization made and understand how it affects various stakeholders.
In this module, you will see an overview supplier segmentation and what the advantages and disadvantages of single and multiple sourcing. Furthermore, you will review the implications of sourcing on the entire firm in an assessment.
Sourcing Best Practices
In this module, we will review some best practices in sourcing and procure-to-pay systems which enable firms to automate and accelerate essential sourcing functions. In the assessment you will build a supplier evaluation system that you can use in your personal and professional lives.