OPM600 - Purchasing and Materials Management
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|Last revision date||May 25, 2015 12:06:13 AM|
|Last review date||Aug 3, 2015 12:15:03 AM|
Purchasing and Materials Management
OPM 600 introduces the student to Purchasing and Supply Management. In general usage the term purchasing describes the process of buying: learning of a need, locating and selecting a supplier, negotiating a price and other pertinent terms, and following up to ensure delivery. Materials Management refers to an organizational structure where there is a single manager responsible for the planning, organizing, motivating, and controlling of all those activities principally concerned with the flow of materials into an organization.
This is a core subject for the BAD Operations Management specialization, as well as a Professional Option for 5th and 6th semester students of other programs.
Upon successful completion of this subject the student will be able to:
1. Recognize how purchasing enhances the performance of the overall organization.
2. Differentiate between purchasing, supply management, and supply chain management.
3. Understand the Benefits of Strong Supplier Relationships.
4. Understand the application of Technology in purchasing such as EDI, internet, and reverse auctions.
5. Understand the legal aspects of the purchasing function, along with the benefits and risks of long term contracts.
6. Understand the purpose and functions of materials management.
7. Describe the primary advantages of both making a product in-house, as well as buying from an outside source.
8. Describe the steps in the purchasing cycle and the various documents used in each step.
9. Use supplier evaluation criteria to develop a selection survey.
10. Discuss the pros and cons of single versus multiple sourcing and the impact on pricing.
11. Identify ways of reducing the number of small value purchase orders.
12. Summarize the key differences between purchasing in the public sector and private sectors in Canada.
13. Discuss the evaluation criteria for the purchase of capital equipment.
14. Demonstrate an understanding of the critical importance of ethics and transparency in the purchasing role.
Essential Employability Skills
Communicate clearly, concisely and correctly in the written, spoken and visual form that fulfils the purpose and meets the needs of the audience.
Respond to written, spoken, or visual messages in a manner that ensures effective communication.
Use a variety of thinking skills to anticipate and solve problems.
Locate, select, organize, and document information using appropriate technology and information systems.
Analyze, evaluate, and apply relevant information from a variety of sources.
Manage the use of time and other resources to complete projects.
Cheating and Plagiarism
Each student should be aware of the College's policy regarding Cheating and Plagiarism. Seneca's Academic Policy will be strictly enforced.
To support academic honesty at Seneca College, all work submitted by students may be reviewed for authenticity and originality, utilizing software tools and third party services. Please visit the Academic Honesty site on http://library.senecacollege.ca for further information regarding cheating and plagiarism policies and procedures.
All students and employees have the right to study and work in an environment that is free from discrimination and/or harassment. Language or activities that defeat this objective violate the College Policy on Discrimination/Harassment and shall not be tolerated. Information and assistance are available from the Student Conduct Office at email@example.com.
Accommodation for Students with Disabilities
The College will provide reasonable accommodation to students with disabilities in order to promote academic success. If you require accommodation, contact the Counselling and Disabilities Services Office at ext. 22900 to initiate the process for documenting, assessing and implementing your individual accommodation needs.