Companies in today’s turbulent business context have learned the hard way how dependent they are on other companies, i.e. suppliers, for much of the direct and indirect goods and services that they need. In many industries, companies spend over 50 per cent of their total costs on purchased goods and services from suppliers. An important implication of this dependence on suppliers is that purchasing and supply management (PSM) is a key business function in many companies, which plays an important role in ensuring the competetiveness and survival of these companies. This means balancing cost, value, and risk. The PSM role includes navigating in a business context, which is besieged with challenges, including climate change, increasing raw material prices, industry 4.0, and unexpected disruptions like the pandemic and sociopolitical issues.
How PSM can play this important role, by developing superior competences, processes and supplier relationships, is at the core of this course. Students will gain understanding of the role of PSM in companies, and also in the public sector, which is a large procurer in most countries. The course is a mix of theoretical insights and high level analyses on the one hand and practical tools and examples on the other.
- The role of purchasing and supply management in a company: definitions, trends and challenges
- Purchasing and supply strategy
- The purchasing process
- Conditions & applications
This is an excerpt from the complete course description for the course. If you are an active student at BI, you can find the complete course descriptions with information on eg. learning goals, learning process, curriculum and exam at portal.bi.no. We reserve the right to make changes to this description.