Amanager typically has four major resources with which to work — money, men, machines and materials. This course focuses on materials — specifically, the management of materials, and the control of materials costs in business and institutional enterprises. It emphasises procurement as the primary materials activity; at the same time, it explicitly integrates the procurement activity with all other materials activities. Further, the course material views the procurement function in the context of a total business operation; it consistently relates this function to relevant activities in the engineering, operations, marketing and finance functions, as well as to the business as a whole.
The past two decades have been marked by numerous important developments — political, economical, socio-cultural, technological, legal and ecological. Many of these have impacted both the significance and the conduct of an organisation’s procurement management activities. As a result, the procurement function has undergone a significant re-evaluation by top management. A number of new strategies and techniques have emerged during this period. The traditional procurement function has also evolved from a narrowly defined activity into a professional supply
management function, driven by people and technology.
The course material deals directly with these changes — and integrates them into the ongoing Procurement function at both the conceptual and the operation level. It provides a sound introduction to those with career interest in any business area, as it is for those interested in the procurement field.
Finally, please take note that this five-unit course serves as the first part of Procurement Management syllabus. After completing this course, you would proceed with the second part of procurement management syllabus under the course name of BLC 307/05 Inventory Management. The course of Inventory Management will cover the topics of inventory management, supplier development and procurement principles.