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Advanced Global Procurement and Sourcing

Don Klock and Don Klock

This specialization is intended for experienced procurement people seeking to develop skills to run a world-class procurement department. Through seven (7) courses you will cover how to run an efficient and effective procurement organization. This specialization will help you operate in a post-Covid world, understand how to create world-class supplier partnerships, and reduce risks through commodity and currency hedging. You will also learn how to leverage technology to make you and your organization more effective. Lastly we cover some timely special topics such as Environmental, Social , and Governance (ESG) and how to run a successful Supplier Diversity program. Outside reading will be provided to reinforce your knowledge.

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What's inside

Seven courses

Introduction and Course Outline

This course introduces Professor Don Klock and Rutgers University. It outlines the topics covered in this Specialization and reviews key takeaways from the original Coursera Global Procurement and Sourcing Specialization. It also covers the learning materials used in this specialization.

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Procurement Organizations

This course focuses on Procurement Organization, integrating it into the business and with suppliers. It reviews different types of procurement organizations, the importance of policy and procedures, establishing meaningful Key Performance Indicators (KPIs), and examining the critical role of talent. This learning aims to create a competitive advantage for your procurement organization and firm.

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Global Procurement in a Post Covid World

After an intro, this course covers the ongoing rationale and challenges of worldwide sourcing, including lessons learned from Covid-related supply chain disruptions. We'll review supplier quality and risk management, and explore three strategies to minimize risks: China +1, near shoring, and reshoring. Finally, we'll discuss total cost of ownership (TCO) to evaluate these strategies.

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Supplier Partnerships

This course explores the significance of Supplier Partnerships. It defines partnerships and presents a practical Partnership Model that has been successfully implemented in numerous organizations.

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Commodity and Currency Hedging

After a brief introduction, this course will first explain hedging, and how one might use hedging as a risk management tool. Then the course will look at both Commodity Hedging and Currency Risk Management and Currency Hedging. Actual examples will be provided.

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Leveraging Technology to Achieve Results

After a brief introduction, this course will cover procurement technology solutions to achieve goals. It covers Enterprise Resource Planning (ERP), Procurement-to-Pay solutions, and digital technologies like AI, ML, and RPA. These technologies and processes enhance procurement efficiency and effectiveness, enabling focus on value-added activities.

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Special Topics and Specialization Wrap-up

This final course in the Specialization covers two Special Topics not covered previously: procurement's role in Environmental, Social and Governance (ESG) and Supplier Diversity. The course reviews the entire Specialization's Key Take-Aways in preparation for the Final Assessment, which consists of 40 multiple choice questions.

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Time

0 hours

Level

Intermediate

Via

Coursera

Institution

Rutgers the State University of New Jersey

Instructors

Don Klock

Level

Intermediate

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