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December 9, 2024
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Take your procurement knowledge to the next level. Master strategies how to run a world class procurement organization
Instructor: Don Klock
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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.
Applied Learning Project
In addition to the videos, readings and frequent assessments, learners will use their knowledge and newly acquired skills to solve questions for "real" life cases. These cases are required and will be assessed by student Peer Group. All of these items will allow you obtain new skills that will be able to better understand, manage and direct a world-class procurement organization.
This course will give you a brief introduction of the professor, Don Klock, and Rutgers University. It will cover who should take this course, and outline the topics to be discussed in this Specialization.
It will also review the Key Take-aways from the original Coursera Global Procurement and Sourcing Specialization. While it is not required to take the original specialization for this course, it will provide a basic procurement foundation for this course, as the instructor occasionally references that material in his videos. This will be followed by a brief practice assessment to test your overall knowledge in this area. Lastly, it will briefly cover the key learning materials that will be used in this specialization.
This course is primary focused on Procurement Organization-how to integrate procurement into the business and with your suppliers, review different types of procurement organizations, the importance of having policy and and procedures, how to establish meaningful Key Performance Indicators (KPIs) , and lastly examine the criterial roll of talent. All of this learning is meant to create a "real" competitive advantage for your procurement organization and your firm.
After a brief introduction, this course will first cover the on-going rational and challenges of worldwide sourcing. There were a lot of lesson learned as a result of Covid and the subsequent disruption of many supply chains. After reviewing the even more important topics of Supplier Quality and Risk Management, the course will cover three strategies to minimize risks: China +1, Near Shoring and Reshoring. Lastly, the very important topic of Total Cost of Ownership (TCO) is covered which is needed to evaluate these strategies.
This course covers the very important topic of Supplier Partnerships. After a brief introduction to the course, the course will cover why partnerships are important and what exactly is a partnership. The course will give a "real life" example Partnership Model that has been successfully used in over 150 companies.
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 and recommendations how to move forward using these risk management techniques.
After a brief introduction, this course will cover procurement technology solutions that will help achieve your goals. First, the course will cover Enterprise Resource Planning (ERP), a large software program that is used across the entire organization. The ERP segment will focus on just the procurement segments and how one can use this information to achieve your goals. Then the course will cover Procurement-to-Pay solutions that can either be integrated into ERP or as a stand alone solution. Lastly, the course will cover some of the "new" digital and other enabling technologies (e.g. AI, ML & RPA). All of these technologies and processes will make your procurement department more efficient and effective such that you can work on more value add activities.
This is the final course in the Specialization. After a brief introduction, the course will cover two Special Topics that weren't covered in the previous courses, but considered very important. The first topic is procurement's role in Environmental, Social and Governance (ESG) and the second topic is Suppliers Diversity and reviews why both of these initiatives are important to procurement and your firm any how to implement them.
From there, the course has a review of the entire Specialization by restating all the Key Take-Aways from all the courses. This is meant to be a review for the Final Assessment. Lastly, there is a Final Assessment consisting of 40 multiple choice question.
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Depending on your timing, this specialization can be completed in 7 to 10 weeks.
It would be helpful, but not necessary to complete the Original Global Procurement and Sourcing Specialization in Coursera or at least have the basic procurement knowledge.(e.g.worked in procurement for a few years) Most courses are geared to more experienced procurement professionals. However, if a non-procurement person wants to understand more strategic initiatives it can also work.
No, these courses are somewhat stand alone courses, therefore one does not have take the courses in a specific order.
No, but you can, at your option, receive a Certificate if you pass all the assessments.
You can use this knowledge to either run a procurement organization or make your current organization more effective and efficient such that you can create real value and reduce costs for your company.
This course is completely online, so there’s no need to show up to a classroom in person. You can access your lectures, readings and assignments anytime and anywhere via the web or your mobile device.
If you subscribed, you get a 7-day free trial during which you can cancel at no penalty. After that, we don’t give refunds, but you can cancel your subscription at any time. See our full refund policy.
Yes! To get started, click the course card that interests you and enroll. You can enroll and complete the course to earn a shareable certificate, or you can audit it to view the course materials for free. When you subscribe to a course that is part of a Specialization, you’re automatically subscribed to the full Specialization. Visit your learner dashboard to track your progress.
Yes. In select learning programs, you can apply for financial aid or a scholarship if you can’t afford the enrollment fee. If fin aid or scholarship is available for your learning program selection, you’ll find a link to apply on the description page.
When you enroll in the course, you get access to all of the courses in the Specialization, and you earn a certificate when you complete the work. If you only want to read and view the course content, you can audit the course for free. If you cannot afford the fee, you can apply for financial aid.