Purchasing Strategies and Techniques
| Code | School | Level | Credits | Semesters |
| BUSI3037 | Business | 3 | 10 | Spring UK |
- Code
- BUSI3037
- School
- Business
- Level
- 3
- Credits
- 10
- Semesters
- Spring UK
Summary
Introduction to purchasing - its importance, role and impact in organisations. Strategic sourcing decisions and approaches. The stages of a typical purchasing process and introduction to various tools buyers use. Internal organisation of the purchasing function such as centralisation vs decentralisation. Supplier evaluation, selection issues, and total costing. Portfolio and segmentation approaches to supplier management. Understanding sustainability issues in managing suppliers. Negotiations. Special issues in purchasing: service sourcing and retail buying. Industrial case studies.
Target Students
Available to Part 2 undergraduate students.
Classes
- One 5-hour seminar
- One 2-hour lecture each week for 11 weeks
Assessment
- 10% In-Class Test: Team negotiation exercise.
- 40% Coursework: 2,500 word group coursework.
- 50% Exam (2-hour): Written in-person exam.
Assessed by end of spring semester
Educational Aims
Purchasing has a significant impact on a company's performance. Purchasing requirements, rooted in cultural and social expectations, have become increasingly demanding and entrenched in legislation. This module provides a contemporary overview of purchasing concepts and methods. Students develop an understanding of the factors affecting purchasing decisions and learn about ways to organise the purchasing function while adhering to these requirements. Attention is paid to purchasing activities, requirements, and objectives within a global context. This module will also partner with the Business Technology Centre of Excellence to facilitate the use of modern purchasing software such as SAP.Learning Outcomes
Knowledge and understanding
This module develops a knowledge and understanding of:
- The dynamic and changing nature of business and the consideration of the future of organisations within the global business environment, including the management of risk.
- Leadership, management and development of people and organisations including the implications of the legal context.
- The management of resources, supply chains, procurements and logistics.
- The management of procurement.
- The need for individuals and organisations to manage responsibly and sustainably and behave ethically in relation to social, cultural, economic and environmental issues.
- The different approaches for supplier appraisal, segmentation, and relationship management.
- An understanding of the factors affecting purchasing decisions, organisation of the purchasing function and the technology and tools used in purchasing.
Intellectual skills
This module develops:
- The ability to analyse facts and circumstances to determine the cause of a problem and identifying and selecting appropriate solutions.
Professional practical skills
This module develops:
- Self-analysis and awareness/sensitivity to diversity in terms of people and cultures. This includes a continuing appetite for development.
- People management, to include communications, team building, leadership and motivating others.
Transferable (key) skills
This module develops:
- An awareness of the interpersonal skills of effective listening, negotiating, persuasion and presentation and their use in generating business contacts.
- Ability to work collaboratively both internally and with external customers and an awareness of mutual interdependence.
- Self-management and a readiness to accept responsibility and flexibility, to be resilient, self-starting and appropriately assertive, to plan, organise and manage time.
- Articulating and effectively explaining information.
- Emotional intelligence and empathy.