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Learn to manage all activities related to the acquisition and management of resources for an organization using data analytics, relationship management, and assessment of global sourcing. As part of the Rutgers Stackable Business Innovation Program (rSBI), the Global Procurement Management Concentration is stackable with the following master's programs: Master of Supply Chain Analytics, MS in Healthcare Analytics and Intelligence, MS in Supply Chain Management, MBA.
Procurement involves identifying and agreeing to terms for the acquisition of goods, services, or works from an external source, often via a competitive bidding process. involving constrained decision making and economic analysis. This concentration will present both academic foundations and real-life applications designed to ensure successful procurement operations. It further presents the causes, assessment of organization vulnerability, and strategies for managing supply chain disruptions. It explores the area of Business Continuity and Risk Management comprehensively to provide for organizational resilience. Particular emphasis is placed on assessing threats, which may lead to disastrous events, evaluating control alternatives, and implementing strategies. Practical solutions to enable an organization to mitigate risk, manage crisis, and recover after a disaster are explored.
You can take the course listed below as individual classes or as stackable courses towards the completion of a concentration.
Intense competition is a key driver that elevates supply contracts and their lifetime management to a strategic level. How well supply chain management professionals structure supply contracts and commercially manage supply transactions will continue to be an important part of how organizations improve, reduce costs, and maximize opportunities. The success of critical commercial transactions depends on flawless execution which in turn requires expert contracting and management skills. Billions of dollars are spent every year by corporations in procuring goods and services from their suppliers. Therefore, even small changes and improvements in how supplier contracts are managed can have substantial positive impacts on the bottom line. Supply chain and procurement professionals need to be well versed in the subtleties of how to optimally manage supply contracts and their associated commercial challenges. This course provides supply chain management professionals with skills, strategies and techniques to avoid the pitfalls associated with poor contract management. The course focuses on crucial real-world contract management considerations including: how sound contract management practices are an important part of being successful in an increasingly competitive global environment; how to assess, minimize and commercially manage supply contracts by early identification of contract management “red flags”; and practical steps for improving and standardizing contract management techniques in organizations.
Supply Chain Management is generally focused on product and information flow but is largely driven by financial and accounting considerations. An often-unknown fact is that the supply chain is designed to enhance the financial value of a corporation, or ultimately to serve the chief financial officer. The objective of the course is to introduce key financial and accounting aspects of SCM and instill a financially oriented mindset by integrating said aspects into the analysis of SCM issues and systems. Topics covered include supply chain costing, working capital management, supply chain financing, supply chain risk management, and supply chain contracts and purchasing. Some case studies will illustrate the concepts learned.
Supply Management is the overarching cross-functional management framework that integrates all activities related to the acquisition and management of resources for the organization. It includes global sourcing, supplier relationship management, procurement and purchasing. Supply Management is now recognized as a key strategic initiative to create value for the corporation. This course reviews the demands placed on today's procurement and supply management from the firm's stakeholders and demonstrates their impact on the competitive success and profitability of the organization. Furthermore, it describes ethical, contractual and legal issues faced by procurement, and recognizes the expanding strategic nature of supply management. The major areas covered are procurement as a functional activity, and how effective supply management impacts on total quality, cost, delivery, technology, and responsiveness to the needs of a firm's external customers (insourcing/outsourcing, supplier evaluation, supplier development, and global sourcing). We introduce the tools, techniques, and approaches for managing the procurement and sourcing process (cost/price analysis, negotiations, and contract management). Case studies and outside speakers will be used to illustrate the issues discussed in lectures.
Properly addressing risks and facing possible disruptions are of primary importance to supply chain management. With the wake of high consequence disruptive events, risk identification and disruption response activities have become ever more critical. The objective of the course is to provide an overview of key supply chain risk areas, particularly with the proliferation of outsourcing, use of information technology and global logistics. Equally important is how companies are managing the preparation, mitigation and response strategies to major disruptive events. Topics covered include science of catastrophes, vulnerability and threat assessments, resources and capabilities identification/integration, basic crisis management, contingency planning, disaster recovery and business continuity in supply chain settings. Scenario based experiments (table-top exercises) will provide mock situations where students will make decisions on how to handle supply chain disruption. Case-based studies will be used to provide hands-on learning to illustrate the issues discussed in lectures.
The concentration and courses are offered by the Supply Chain Management Department
Sample Relevant Careers: Procurement Officer, Buyer, Supply Chain Manager, Operations Manager