Procurement & Contracts

Course Objective

The primary objective of this course is to students with the knowledge and skills necessary to effectively manage procurement and contracts within an organization. Students will learn the principles and practices of procurement, understand the strategic role of procurement in achieving organizational goals, and develop the ability to draft and manage contracts to maximize value and minimize risk.

Course Overview

This course provides a comprehensive exploration of procurement and contract management. It covers the entire procurement cycle, from identifying needs and developing specifications to supplier selection, negotiation, and contract administration. Students will gain insights into the strategic importance of procurement in the context of supply chain management and organizational performance.

Key topics:

 

Introduction to Procurement and Supply Chain Management: Understanding the role of procurement in the broader supply chain context and its impact on organizational success.

Procurement Planning and Strategy: Developing procurement strategies aligned with organizational goals, including make-or-buy decisions, and supplier relationship management.

Supplier Selection and Evaluation: Criteria and processes for selecting and evaluating suppliers, including request for proposals (RFP), request for quotations (RFQ), and tendering processes.

Contract Law and Legal Aspects: Fundamental principles of contract law, key legal terms, and the legal framework governing procurement contracts.

Contract Development: Techniques for drafting clear, enforceable contracts to achieve favorable terms and conditions.

Contract Management and Administration: Best practices for managing contracts post-award, including performance monitoring, change management, dispute resolution, and contract closeout.

Through a combination of lectures, case studies, group discussions, and practical exercises, students will develop a deep understanding of procurement and contract management, preparing them to make informed decisions and lead procurement initiatives in their future careers.

Course Materials:

Main books:

1. “Procurement and Supply Chain Management” by Kenneth Lysons and Brian Farrington (2020)

Overview: This comprehensive textbook covers all aspects of procurement and supply chain management, offering a detailed exploration of strategic sourcing, supplier management, and the latest trends in procurement practices.

2. “Drafting and Negotiating Commercial Contracts” by Mark Anderson and Victor Warner (2023)

Overview: This practical guide focuses on the nuances of negotiating and drafting commercial contracts. It provides detailed advice on contract terms, risk management, and dispute resolution.

3. “Building procurement” edited by Roy Morledge et all (2021).

Overview: This handbook offers a comprehensive overview of procurement practices and policies, combining theoretical insights with practical applications. It covers various sectors and international perspectives.

4. “Purchasing & supply chain management” by Robert Monczka (2021).

Overview: This book explores advanced concepts in strategic sourcing, purchasing, emphasizing the importance of innovative sourcing models and the role of technology in modern procurement.

5. “Contract administration” by Bill Davison and McCue Clifford (2023).

Overview: This book provides an in-depth look at contract management as a core business competence. It covers the lifecycle of contract management, from initiation and negotiation to execution and closeout.

6. “World Class Contracting” by Gregory A. Garrett (6th Edition, 2015)

Overview: This book offers practical insights and strategies for managing contracts effectively. It emphasizes best practices and provides real-world examples to illustrate key concepts.

7. “The Procurement and Supply Manager’s Desk Reference” by Fred Sollish and John Semanik (3rd Edition, 2007)

Overview: This reference book is an essential guide for procurement professionals, covering topics such as strategic sourcing, negotiation techniques, supplier management, and procurement law.

Complementary book:

Procurement finance by Bernardo Nicoletti (2022)

Corey, J. (2021). Contract Management and Administration for Contract and Project Management Professionals: Second Edition Volume – 2.

 

 

Grading:

Items	Marks
Home works	2
Class Exams	3
Project	5
Mid term	4
Final Exam	6
Total	20

 

 

 

 

Outline:

Session	Module	Topic	Reading
1	Introduction	Overview of the course
2		Overview of Procurement and Supply Chain Management	“Procurement and Supply Chain Management” by Lysons & Farrington – Chapter 1 (2020)
3	Procurement Strategy	Make or buy Decision	“Procurement and Supply Chain Management” by Lysons & Farrington – Chapter 2 (2020)
4		Warehousing and Logistics	“Procurement and Supply Chain Management” by Lysons & Farrington – Chapter 2 (10th Edition)
		Types of Procurement Strategy	“Procurement and Supply Chain Management” by Lysons & Farrington – Chapter 2 (10th Edition)
5		Procurement Risk and Procurement Plan	“Procurement and Supply Chain Management” by Kenneth Lysons and Brian Farrington (2020)
6		How to Buy (Contract award method)	“Procurement and Supply Chain Management” by Lysons & Farrington – Chapter 3 (2020)
7	Procurement	Types of Requests	“Procurement and Supply Chain Management” by Kenneth Lysons and Brian Farrington (2020)
8		Tender Terms and Documents	“Procurement and Supply Chain Management” by Kenneth Lysons and Brian Farrington (2020)
9		Tender- Qualitative	“Purchasing & supply chain management” by Robert Monczka, (2021)
10		Tender- Quantitative	“Purchasing & supply chain management” by Robert Monczka, (2021)
14	Contract Management	MOU& Agreements& Contracts	“Commercial Contracting” by Anderson & Warner – Chapter 1 (2023)
15		Contract Checklist for Purchase of Goods	“Commercial Contracting” by Anderson & Warner – Chapter 2 (2023)
16		Contract Types and Formation	“Commercial Contracting” by Anderson & Warner – Chapter 2 (2023)
17		Contract Types and Formation	“Drafting and Negotiating Commercial Contracts” by Mark Anderson and Victor Warner (2023)
18		Introduction to Contract law	“Drafting and Negotiating Commercial Contracts” by Mark Anderson and Victor Warner (2023)
19		Contract law	“Contract administration” by Bill Davison and McCue Clifford (2023).
20		Key Contract Terms	“Contract administration” by Bill Davison and McCue Clifford (2023).
21		Key Contract Terms	“Contract administration” by Bill Davison and McCue Clifford (2023).
22		Key Contract Terms	“Commercial Contracting” by Anderson & Warner – Chapter 4 (2023)
23		Dispute Resolution Mechanisms	“Contract administration” by Bill Davison and McCue Clifford (2023).