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Level 5 Diploma in Logistics and Supply Chain Management

Foundations of Procurement and Purchasing

LSC502 · Procurement and Inventory Management — Week 1 of 16

CourseLSC502
Week1 of 16
SemesterI
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This week’s topics

Foundations of Procurement and Purchasing

  1. Strategic procurement versus transactional purchasing
  2. The procurement management cycle
  3. Stakeholder identification
  4. Specification and requirement definition
  5. Lec 12 - Purchasing Cycle & Procurement Development Process
  6. #6 Procure to Pay Cycle | Strategic Sourcing
  7. #14 Procurement in Organizations | Part 1 | Strategic Sourcing

What you will be able to do

  • 1.1 Differentiate between procurement and purchasing.
  • 1.2 Describe a procurement management cycle.

Activity

Start with this week’s 3 videos, then: Seminar, guided reading and a short written task: differentiate between procurement and purchasing.

Study materials

Videos

  • Strategic Sourcing in Supply Chain: Elevating Procurement for Business Success · YouTube · MIT Center for Transportation & Logistics · 50 min · for registered students

Further resources

  • Procurement in the Supply Chain World (Conestoga, 2022) – whole book · Reading · Other, textbook; 139 pages · for registered students
  • Introduction to Business 2e, ch. 10.4: Resource planning – purchasing and suppliers · PDF · OpenStax, textbook chapter; pp. 337–341 · for registered students
  • Business Ethics, ch. 3: Defining and Prioritizing Stakeholders · PDF · OpenStax, textbook chapter; pp. 69–92 · for registered students
Materials marked “for registered students” open in the student portal, which is set up as soon as you receive final acceptance.
Week 2
Course chat

Admitted students ask questions on this week’s page in the student portal: an AI assistant trained on the course answers first, and during the course’s timetabled classes Connect to your tutor brings your tutor into the chat, who may start a call if needed.

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Course plan
  • Week 1: Foundations of Procurement and Purchasing
  • Week 2: Procurement Methods and Sourcing Strategies
  • Week 3: The End-to-End Procurement Process
  • Week 4: Procurement Management within the Supply Chain Context
  • Week 5: Strategic and Operational Impact of Procurement on Logistics
  • Week 6: Inventory Management and Inventory Control Fundamentals
  • Week 7: Inventory Management Methods and Replenishment Models
  • Midterm: Midterm evaluation
  • Week 9: Strategic Value and Role of Inventory in Supply Chains
  • Week 10: Supply Chain Factors Influencing Inventory Management
  • Week 11: Assessing the Impact of Inventory on Supply Chain Performan…
  • Week 12: Applying Procurement and Inventory Management in practice: …
  • Week 13: Assignment workshop: research, planning and referencing
  • Week 14: Assignment workshop: drafting, feedback and improvement
  • Week 15: Review and coursework completion
  • Final: Final assessment and submission
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