Strategic Supply Management
Overview
Examine advanced supply management theory and practices from both academic and real-world perspectives. Gain the skills to assess and create new opportunities, relationships and supply channels, while exploring the entire domain of supply and the ways supply management can deliver sustainable competitive advantage.
In this course, you’ll investigate best practices for achieving long-term value in supply management through exemplar industry trends. Plus, you’ll discover ways to enhance buyer-supplier relationships, overcome supply management challenges and provide the strategic positioning and risk management your organization needs.
What You’ll Learn
Introduction to Strategic Supply Management
- Supply management terminology, trends, and themes
- Ways to evaluate new opportunities and overcome challenges
- The difference between tactical and strategic efforts
- How to transition from leveraging volume to leveraging ideas
- Strategies for creating lasting value and sustainable competitive advantage
Relationships
- The keys to exceptional supplier relationship management
- Ways to evaluate and enhance supplier performance
- How to integrate continuous improvement
- Why loyalty matters and how to measure it
- Game Theory implications for strategic supply management
- Empathy and right brain thinking in building relationships
- Deliverables and outcomes of trust
Scope and Metrics
- Cost concerns and total cost of ownership
- The evolution and purpose of supply management metrics
- Ways to use different metrics and perspectives to optimize your supply base
- The most important (and often neglected) supply management concerns
Process Map
- Definition, scope and elements of supplier base management
- Overview of the sourcing strategy process
- How market characteristics frame the strategy
- Formal supply management strategy methodology
- Six strategic outcomes of supplier base management and their implications
- Ways to assess, identify and prioritize opportunities for various goods and services
Implementing and Measuring Supply Management Strategy
- How to identify the type of supplier relationship needed to support the strategy
- Ways to develop a shared commitment with intended sources
- Methods for monitoring supplier-based risk on a continuous basis
- Ways to evaluate suppliers and sources and complete agreements with them
Robust Cost Knowledge
- Why robust cost knowledge is a game-changer
- How traditional supply chains have evolved into integrated supply networks
- How routine strategy positioning limits opportunity
- Cost modeling, cost drivers and cost elimination
Risk and Sustainability
- Multiple dimensions of supply chain risk
- Supply management’s role in corporate social responsibility and sustainability
- The three dimensions of the “triple bottom line”
- Sustainable procurement metrics
- How to build resiliency, innovation and speed to market into your supply chain
Who Should Register?
The Strategic Supply Management course is designed for professionals who want to gain a greater understanding of the scope, costs, metrics and processes associated with supply management and leverage that knowledge to create sustainable competitive advantage. The course is open to individuals who want to excel in purchasing, sourcing and supply management roles. It is a required course for completing the Master Certificate in Advanced Procurement Management.
Curriculum
8 Week Course
Introduction to Strategic Supply Management
- Setting - What’s in a Name?
- Interlocking Themes
- Trends and Opportunities
- Network vs. Function / Firm Optimization
- The Talent Factor
Relationships
- Expectations
- Outside
- Inside
- Game Theory
- Integration
Scope and Metrics
- Metrics vs. Measurement
- Total Cost of Ownership - Areas and Weights
- Strategic Profit Model
- Strategic vs. Tactical (Table Stakes vs. Winning)
- Payment Terms Example
- Prevention, Savings & Avoidances
Process Map
- Overview
- Assessment
- Profile Spend Category
- Supply Market Analysis
- Developing Strategy
- Implementing Strategy
- Managing Performance and Driving Continuous Improvement
Supply Base Design Considerations
- Network Value Creation
- “Outsource the Rest”
- Deming’s Advice
- Risk Mitigation
Robust Cost Knowledge
- Holistic Perspective
- Back to the Past - Value Analysis and Continuous Process Engagement
- Cost Elimination and Breakthrough Examples Part 1
- Cost Elimination and Breakthrough Examples Part 2
Category Analysis Example
- Requirements and Internal Engagement
- Market Knowledge and Supplier Selection
- Cost Drivers and Price Trends
- Cost Models
- Strategy Implementation
Summary and Perspective
- Talent and SRM
- Sustainable Competitive Advantage
- Earned Preferential Treatment
- Cost Elimination, Asset Productivity and Revenue Growth
- Future of Supply Management
If you’re going to pay by credit card, you can either get started with installment payments or pay in full. Just let your enrollment representative know the option that work best for you.
Corporate and Military Tuition Assistance
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Corporate and Military TA
Corporate tuition assistance is paid by your employer. You will need to provide appropriate forms for processing, prior to enrollment. Air Force tuition assistance is available for active-duty service members. You will need to provide a valid military tuition assistance voucher. Both TA options are subject to employer benefit policies.
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Deferred Corporate TA
Pay tuition now and have your employer reimburse you. Additional documentation will be needed to process this payment. Subject to employer benefit policies.
Military Benefits
Active Duty
Michigan State offers a 15% savings, per certificate course, to active-duty servicemembers, Guardsmen and Reservists (upon verification of military status).
Veterans
Michigan State offers a 15% savings, per certificate course to veterans (upon verification of military status).
Spouses and Family
Michigan State offers a 15% savings, per certificate course, to active-duty servicemembers, veterans, Guardsmen, Reservists and their spouses and dependents (upon verification of military status).
If you are interested in learning more about the steps you need to complete payment, please contact a Student Success Representative. This reduction is valid off the standard tuition fee rate of the listed courses offered by Michigan State University with online administration by Bisk. This reduction is not stackable with other reductions, and you may not use this reduction in conjunction with other reductions.
