In an interconnected and increasingly uncertain global environment, procurement plays a critical role in shaping firm performance, risk exposure, and value creation. This course introduces students to strategic procurement as a managerial decision discipline, focusing on how firms design sourcing strategies, manage supplier relationships, and align incentives across supply chains.
Drawing on established frameworks from purchasing and supply management, the course develops students’ ability to analyse procurement decisions under conditions of uncertainty, market power, and information asymmetry. Students examine how buyer–supplier relationships are structured, how pricing and contracts influence behaviour, and how procurement contributes to cost management, resilience, and long-term value creation. Throughout the course, emphasis is placed on applying theory to real procurement contexts, including supplier selection, global sourcing, and ethical and legal considerations in supply management.