Course of Procurement Management, Demand Supply and Inventory Management

Definition and objectives of procurement within organizations.

Difference between operational and strategic purchasing.

The relationship between procurement and other departments.

Identifying needs and analyzing demand.

Selecting suppliers and issuing purchase orders.

Receiving materials and evaluating performance.

Types of contracts in procurement.

Supplier negotiation and bid evaluation.

Local vs. international purchasing policies.

Sources of demand forecasting.

Differences between stable and variable demand.

The role of historical data in demand forecasting.

Inventory-based demand models.

Material Requirements Planning (MRP).

Scheduling for demand fulfillment.

Delivery delays and their operational impact.

Adapting to market fluctuations.

Coordination between procurement, storage, and production.

Suppliers, manufacturers, distributors, and customers.

Flow of information and goods.

Importance of integration among stakeholders.

Quality and reliability.

On-time delivery capabilities.

Compliance with commercial and contractual terms.

Identifying vulnerabilities within the supply chain.

Developing contingency plans for supply continuity.

Periodic evaluation of supply chain performance.

Types of inventory: raw materials, work-in-progress, finished goods.

Difference between periodic and perpetual inventory systems.

The role of inventory in supporting operational activities.

Minimum stock and reorder point systems.

ABC classification method.

Manual and electronic inventory systems.

Storage and maintenance costs.

Stockout and ordering costs.

Balancing availability with cost minimization.

Importance of information flow across units.

Automation of processes for seamless operations.

ERP systems as integrated solutions.

Measuring delivery accuracy and material availability.

Indicators for purchasing efficiency and inventory cost.

The role of data analytics in performance improvement.

E-procurement and supplier platforms.

Smart warehouses and digital intelligence applications.

Environmental sustainability in supply and storage management.