Professional Diploma in Procurement, Sourcing, Supply Chains

Welcome to course Professional Diploma in Procurement, Sourcing, Supply Chains by MTF Institute

Course provided by MTF Institute of Management, Technology and Finance

MTF is the global educational and research institute with HQ at Lisbon, Portugal, focused on business & professional hybrid (on-campus and online) education at areas: Business & Administration, Science & Technology, Banking & Finance.

MTF R&D center focused on research activities at areas: Artificial Intelligence, Machine Learning, Data Science, Big Data, WEB3, Blockchain, Cryptocurrency & Digital Assets, Metaverses, Digital Transformation, Fintech, Electronic Commerce, Internet of Things.

MTF is the official partner of: IBM, Intel, Microsoft, member of the Portuguese Chamber of Commerce and Industry, and resident of the incubator “The Fintech House of Portugal”.

MTF is present in 208 countries and has been chosen by more than 380,000 students.

Course Author: Igor Dmitriev

Digital Transformation and Banking Expert

Education:

MBA, The Boston University

Master of Science at Engineering (Technical) Management,

The State University of New York at Buffalo

Master of Science at Informatics and Economics,

Six Sigma Black Belt

Experience:

Expert at Banking (> 18 years), FinTech & Digital (> 15 years),

Experienced Manager (> 14 years) with successful track of records

at personal and corporate entrepreneurship.

More than 12 years at worldwide banking groups such us

Societe Generale , Raiffeisenbank

Experience at roles: CEO, Head of Business, Chief Digital &

Marketing Officer, Head of Digital Transformation and Channels, Head of Products and Marketing.

What are Procurement and Sourcing?

Procurement: The overarching process of acquiring goods and services that a company needs for its operations. It goes beyond simply buying things; procurement covers:

• Identifying needs
• Finding suppliers
• Negotiating contracts
• Ordering
• Receiving goods/services
• Payment processing
• Managing supplier relationships

Sourcing:  A strategic part of procurement. It focuses on:

• Researching the market to find potential suppliers
• Evaluating suppliers based on cost, quality, reliability, sustainability, and risk factors
• Selecting the best suppliers for the business’s specific needs

Why is Learning Procurement and Sourcing Important for Companies and Managers?

• Cost Savings: Effective procurement and sourcing finds the best value for money. This directly impacts the company’s bottom line.
• Efficiency: Streamlined processes in procurement avoid delays and bottlenecks in a company’s operations.
• Risk Mitigation: Thorough sourcing helps identify potential risks (like supply disruptions) and proactively manage them.
• Competitive Advantage: Strong supplier relationships and access to quality materials or services can give companies an edge in the market.
• Innovation: Sourcing can help uncover new technologies, materials, or processes that boost a company’s offerings.

How Procurement and Sourcing Skills Build Global Careers

• High Demand: Companies worldwide of all sizes need individuals who understand how to source and procure effectively.
• Transferable Skills: The fundamentals of procurement and sourcing apply across industries and countries.
• Cross-Functional Collaboration: Procurement interacts with many departments (finance, operations, legal), giving a broad view of how businesses function globally.
• Growth Potential: As globalization increases, the need for professionals who understand the complexities of international procurement and supply chains will rise.

Tips for Learning:

Courses and Certifications: Consider specialized courses or certifications in procurement or supply chain management. Organizations like CIPS (Chartered Institute of Procurement and Supply) offer many of these globally.

Industry Networks: Join professional associations in this field to connect with others and learn best practices.

Practical Experience: Seek out internships or roles, even part-time, that give hands-on experience.