Strategic Sourcing: Adding Value through Procurement
5 DaysStrategic Sourcing: Adding Value through Procurement
Course Methodology
This course uses a variety of individual and team exercises, case studies, questionnaires and videos.
Course Objectives
By the end of the course, participants will be able to:
- Analyze internal spend and supply market dynamics to provide a foundation for sourcing plans
- Execute different sourcing strategies to optimize savings and ensure supply security
- Identify appropriate suppliers for effective execution of sourcing plans
- Describe operational and strategic procurement processes for better value
- Manage performance of procurement processes for continuous improvement
Target Audience
Purchasing and supply chain professionals at all levels of the organization as well as other company personnel who are involved in the purchasing process.
Target Competencies
- Analyze internal spend and supply market dynamics to provide a foundation for sourcing plans
- Execute different sourcing strategies to optimize savings and ensure supply security
- Identify appropriate suppliers for effective execution of sourcing plans
- Describe operational and strategic procurement processes for better value
- Implement different purchasing methods to streamline procurement operations
- Apply supplier integration techniques for sustainable supplier relations
- Manage performance of procurement processes for continuous improvement
Course Outline
- Module 1: Analyze spend categories
- Recognizing strategic role of procurement
- Strategic sourcing in supply chain context
- Steps to strategic sourcing
- Analyzing spend categories
- Profiling spend categories
- Analyzing financial impact
- Assessing market risks
- Consolidating category reports
- Operating the strategic sourcing toolkit
- Applying Total Cost of Ownership (TCO)
- Segmentation and analysis of suppliers
- Module 2: Develop sourcing strategies
- Mapping spend categories using purchasing strategy matrix
- Routine items
- Bottleneck items
- Leverage items
- Strategic items
- Managing balance of power in buyer-supplier relations
- 6 key sourcing strategies
- Applying sourcing strategies effectively
- Module 3: Identify suppliers
- Locating suppliers
- Registering suppliers
- Assessing suppliers
- Sourcing locally
- Describing vendor diversity programs
- Module 4: Integrate suppliers
- Prequalifying suppliers
- Managing supplier certification programs
- Partnering with suppliers
- Managing Supplier Level Agreements (SLAs)
- Module 5: Manage procurement performance for continuous improvement
- Managing a strategic sourcing plan
- Measuring, analyzing and reporting on performance
- Developing improvement initiatives
- Institutionalizing supplier report cards
- Monitoring industry conditions
- Bringing it all together
Mawred Certificate
Mawred Certificate courses by Al mawred Training & Consulting are designed for those willing to challenge themselves and go the extra distance...
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Classroom Schedule
Virtual Schedule
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