The purpose of this module is to have the student gain a fundamental, but comprehensive understanding of procurement management. This will enable students to critically analyse, explain and apply principles of procurement management to supply chain management.
Upon completion of this module, students will understand the scope and development of procurement management and its strategic role in supply chain management. They will evaluate key procurement issues, including outsourcing, quality, inventory, sourcing, pricing, total cost of ownership, and negotiations. Students will apply procurement principles to different buying situations and examine the role of electronic commerce in procurement activities. They will also understand contract management and its importance in effective procurement practices.
