Contracts are the backbone of supply chains. They are what allow agreements to be made between key stakeholders, and what guarantees that they are fulfilled. In this module, you’ll learn what contracts are and their fundamental elements, what the main challenges in contract management are and the importance of innovation in contracting, along with the most important technological developments in this area.

Knowing how to evaluate suppliers and select the right ones is one of the most important elements to efficient supply chains. In this module, you’ll dive deeper into supplier evaluation processes, assessment and proposals, you’ll learn the best assessment methods and criteria, understand how to develop your existing suppliers to their maximum potential, and how to manage this whole process.

Strong supplier relationships are the bedrock of resilient supply chains, and negotiation is how such relationships can be established in lasting and mutually beneficial ways. In this module, you will explore what negotiation is, its importance for supply chains and its key concepts, the main negotiation techniques, the main steps of a negotiation strategy and how to execute one. You will also learn why building supplier relationships is so important, and how to build them in ethical ways.

Welcome to the final project of the course "Procurement Strategies"! This hands-on project will be graded and necessary for you to receive your certificate. It will require around 60 minutes to complete, so make sure to set aside enough time to focus on it!