Increasing competition and globalization of the supply chain have made cost competitiveness and procurement effectiveness key to successful business performance. Best-in-class procurement practices are essential to attaining global supply chain competitiveness today. This course introduces students to the principles of procurement and how they can help enhance cost and supply chain efficiency. Learning outcomes will be both strategic and tactical including topics such as the business function of procurement, the procurement process and organization, trends in organizational design, quality management, make - buy decisions, strategic cost management, strategic and global sourcing, supplier selection and management, inventory strategies, category management, performance measurement and evaluation, RFP (Request for Proposal) and contract management, negotiations and conflict management, and electronic sourcing. Prerequisite: BUEC 503.