Strategic Sourcing  and Purchasing Training

Strategic Sourcing  and Purchasing Training

About the Program

Most organizations consider strategic sourcing as a value creator and consider it to be integral to their overall strategies for growth. To become a world-class procurement organization in the 21st century, a company requires various competencies that will enable it to effect strategic sourcing and transfer value throughout the supply chain from supplier to customer. Strategic sourcing is far more than a simple allocation of business to suppliers by the purchasing function. It is a multi-functional activity that produces a plan of action for several years. Successful sourcing strategies are built on a rigorous analysis of the buy, the supply industry, and the fundamental drivers of value.

Program Objectives

• Develop a strategic sourcing strategy that achieves tangible results
• Implement the strategic sourcing strategy to maximize total cost savings
• Assess and prioritize opportunities for savings
• Establish processes to manage performance of the strategic sourcing contract
• Apply best practices and lessons learned in strategic sourcing efforts

Target Audience

• Supply  Chain Professionals
• Program Managers
• Procurement Officers
• Contracting Officers
• Professionals involved in the planning, evaluation, preparation and management of purchasing, tenders, contracts that cover the acquisition of materials, equipment, and services

Training Period

• Classroom: 5 Days
• Online: 7 Days

Modules

Module 1: Defining and Implementing Effective Sourcing Strategies

• Definition of Sourcing Strategy
• Defining Procurement Excellence
• Tactical vs. Strategic Sourcing
• Strategic Sourcing Benefits
• Industry and Strategic Sourcing
• The Strategic Sourcing Process

Module 2: Strategy Development and Commodity Management

• Develop a Strategic Sourcing Plan
• Evaluate and Prioritize Commodities
• Analyze The Supply Market
• Develop a Commodity Strategy
• Develop The Acquisition Strategy
• Develop a Transition Plan

Module 3: Sourcing Path Selection

• Selection of Implementation Path
• Identification of Preferred Supplier(s)
• Supplier Development and The Strategic Sourcing Process
• Supplier Development Constraints
• Negotiation Strategy – Competitive vs. Collaborative
• Proposal Solicitation and Evaluation

Module 4: Leveraging Supply Management Tools and Techniques to Improve Performance

• Procurement Analysis and Classification
• Strategic Cost Management
• Principles of Cost and Value Management
• Understanding the Total Cost of Ownership
• Purchasing Analysis Tools and Techniques
• Performance Measurement and Evaluation

Module 5: Supplier Performance Management, Quality Management, and Supply Base Integration

• The Importance of Supplier Performance Management
• Developing and Maintaining Long-term Supplier Relationships
• Performance Measurement and Evaluation
• Quality Management for Strategic Sourcing
• Supply Base Integration and Development
• Pursuing Global Supply Management Excellence

Delivery Method

This program is taught through a mix of practical activities, theory, group work and case studies. Training manuals and additional reference materials are provided to the participants.

CERTIFICATION

Upon successful completion of the training, participants will be awarded a certificate of course completion