Procurement - Improvement, Strategy and Managing Risk

More than just a source of competitive advantage, research shows us the critical role a firm’s procurement practices can play in its very survival. Our procurement track is designed to help supply chain professionals eliminate blind spots among suppliers, to identify exposure to risk, and to craft strategies and practices to both reduce risk and leverage opportunities to a firm’s advantage.

Short Course

Procurement - Improvement, Strategy and Managing Risk

Overview

More than just a source of competitive advantage, research shows us the critical role a firm’s procurement practices can play in its very survival. Our procurement track is designed to help supply chain professionals eliminate blind spots among suppliers, to identify exposure to risk, and to craft strategies and practices to both reduce risk and leverage opportunities to a firm’s advantage.

Current Offerings

There are currently no offerings for this course.

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Who Should Attend

    • Senior Leaders who want to create a consistent foundation of supply chain strategy, language, and principles across their team.
    • Leaders in business units that interact and intersect with the supply chain
    • Newer and high-potential supply chain leaders
    • Managers addressing both strategic concepts and tactical application throughout the end-to-end supply chain.

Program Benefits

    • Accelerator courses - leverage the same expert instructors that you expect from the #1 ranked supply chain department in the country
    • Participate from any location – all you need is access to the internet and a web browser
    • Focus on learning tracks - select what aligns with your organizational responsibilities
    • Develop a new network - Connect live with supply chain experts and other participants from across the country - learn how others are addressing similar issues
    • Develop a new level of understanding – we help you make the connection between concept and application to deliver immediate impact in your workplace

Program Content

Week 1: Improving Procurement Practices      

Description

Firms are finding that they can indeed develop sources of competitive advantage by finding and/or developing excellent partners in procurement. Moreover, as corporate social responsibility becomes more important to consumers, where and how an organization sources its materials tells consumers a lot about the company and whether it “lives” its core values.

  • Topics & Takeaways
    • Procurement, Performance, and Competitive Advantage: read about influence and performance by studying the Penn State Supply Chain Model®, look at strategic variables with procurement, learn proven ways to cut spending
    • Continuity and Resiliency: investigate supplier selection criteria, view and create an ideal supplier scorecard, discuss a metric missing in your supplier’s scorecard
    • Mitigating and Managing Risk: take a closer look at supplier continuity and supplier development strategies, reflect on the Goldilocks Procurement strategy
    • Building a Stronger Business Case: read about the impetus for Supply Management and apply the COMMIT approach internally and synthesize our work from the week
  • Business Impact
    • Leverage your firm’s purchasing power to improve performance
    • Analyze your current supplier selection process and metrics
    • Adopt the use of a proven supplier development model called COMMIT

Week 2: Strategic Sourcing for Improved Performance

Description

Take a critical look at distribution network strategy in order to uncover the possibilities in your organization. Join your cohort in exploring the factors and stages of a distribution network strategy and apply possible solutions to a simulated case study, learning what takeaways will be useful in your leadership role.

  • Topics & Takeaways
    • Sourcing for Performance: identify critical leadership skills for more effective sourcing
    • Sourcing Strategies: apply the content to develop insight on how to improve your organization’s sourcing
    • Challenges and Opportunities of Globalization: explore the balance between value and risk
    • Strategic Sourcing and Competitive Advantage: reflect on your company’s competitive initiatives, discuss how customer demands will change in the future and how that will alter the competition
  • Business Impact
    • Improved alignment with supply chain partners
    • Demonstrated understanding of supplier relationships and production needs

Week 3: Managing Supply Chain Risk

Description

InManaging Supplier Risk, you will investigate the ability of your supply chain organization to minimize, react to and resolve disruptions in the supplier network. The experts will present a supplier failure scenario to prompt dialogue around recovery tactics. You will work together on the components of a continuity and resiliency plan and reflect on how to transfer the learnings to your own organization to solve real business challenges.

  • Topics & Takeaways
    • Supply Chain Disruptions: brainstorm and collaborate on how to respond to supplier disruptions
    • Mitigating and Managing Supplier Risk: reflect on who the at-risk suppliers are in your supply chain and discuss risk levers in the supply base
    • Continuity and Resiliency in the Supply Base: assess how well your organization does at managing and mitigating risk, draft a continuity and resiliency plan using a provided toolkit
    • Supplier Risk Reduction Tactics: research a best in class supplier Code of Conduct, discuss technology and supplier risk management
  • Business Impact
    • Improved ability to recognize potential at-risk suppliers
    • Increased knowledge of how to mitigate and manage at-risk suppliers
    • Strengthened resiliency against unpredictable disruptions to your supply chain
  • What You’ll Learn
    • Find ways to develop sources of competitive advantage by finding and/or developing excellent partners in procurement. Moreover, as corporate social responsibility becomes more important to consumers, where and how an organization sources its materials tells customers a lot about the company and how it truly “lives” its core values
    • Learn why sourcing is truly a strategic function in the organization and why forms have matured from the legacy of purchasing to having the procurement function be a competitive advantage.
    • You’ll investigate the ability of your supply chain organization to anticipate, minimize, react to and resolve disruptions in the supplier network. Learn the components of a continuity and resiliency plan and reflect on how to transfer the learnings to your own organization to solve real business challenges.

Date

Learning Path

Date/Time

10/5/20-10/23/20

Procurement – Improvement, Strategy and Managing Risk

 

Week One Live Event

Improving Procurement Practices

10/9/20

2:00-3:00pm

Week Two Live Event

Strategic Sourcing for Improved Performance

10/16/20

2:00-3:00pm

Week Three Live Event

Managing Supply Chain Risk

10/23/20

2:00-3:00pm

Value For You and Your Organization

Faculty

Expert executive faculty who have led significant change within the private and public sectors will provide models and frameworks to help you transform vision into and action plan for results.

Customize This Program

All programs can be tailored to your organization and team, and be delivered to groups of 10 or more. Contact us about custom program possibilities. Customize Request Info 800-311-6364
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Additional Details

Our Learning Solutions Associate will be happy to hold a seat for you in this program. A reservation does not commit you to the program until you submit the registration form online. To reserve your spot, click the ‘Save my Seat’ button next the program’s offering, listed above.

Discount Rates

  • 20%: In-Person delivery, or Live Remote delivery with 20+ participants on same invoice (Contact us to register your group)
  • 10%: Live Remote delivery

Eligibility

Tuition discounts are available for:

  • DoD or government employees
  • Penn State alumni
  • Individuals who commit to earning a Professional Certificate
  • Teams of three or more attending from the same organization
  • CSCR Corporate Sponsors and other affiliated groups (with valid discount code)

After registration, you will receive access to your personal learning portal. There you can find the following information:

  • Pre-program assignments, which prepare you for the program before the start date
  • A list of program faculty and fellow registered participants
  • Travel coordination and support, if applicable

Transfers

If an accepted Penn State Executive Programs applicant finds it necessary to transfer to another session of the same program, one transfer will be allowed with no charge if arranged more than six (6) weeks prior. Additional transfers, transfers to a different program, or transfers arranged less than six (6) weeks prior incur a charge of 10% of the current program fee.

The sponsoring company may identify a replacement candidate, but the replacement candidate must be accepted for the program through an admissions review.

Refunds

The following refunds will apply for withdraws if Penn State Executive Programs is notified in writing within the time period stated:

  • Full refund with notification received more than six (6) weeks prior to start of the program
  • 50% refund with notification received between two (2) and six (6) weeks before the start of the program.
  • No refund with notification received two (2) weeks or less prior to the start of program.

Note: The registered participant or their agent must confirm all notification of withdrawals, transfers and substitutions in writing. If written notification is not received, the full program fee will be assessed.

Cancellations

The University may cancel or postpone any course or activity because of insufficient enrollment or other unforeseen circumstances. If a program is canceled or postponed, the University will refund registration fees but cannot be held responsible for any other related charges, or expenses, including cancellation/change charges by airlines or travel agencies. In the case of postponement, as an alternative to a refund, program fees may be transferred to another session of that program.

If you have any questions or concerns about our cancellation policy, please contact us to discuss further.