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An Intensive 5 Day Training Course

Strategic Sourcing for the Oil & Gas Industry

Attaining Procurement Excellence

Print this Course

Code Date Venue Fee($)
MM116 09 - 13 Dec 2018 Dubai - UAE 4,750
MM116 08 - 12 Dec 2019 Dubai - UAE 4,950

*All fees are exclusive of VAT


Why Choose this Training Course?

Procurement in the Oil and Gas industry has always faced particular challenges. With the background of volatile oil and gas prices, marginal oilfields, extreme locations and new global business trends, the oil and gas industry is forced to seek better solutions to overcome these challenges. Procurement Leaders need to think about the sourcing strategies they employ to maximise the value they bring to their organizations.

Strategic Sourcing is a disciplined, multi-stage process that examines, addresses and optimizes the Total Cost of Ownership, and that typically involves cross-functional teams. This is why Strategic Sourcing is so critical and can have such a strong effect on the bottom line. Strategic Sourcing can go well beyond cutting costs. Best-in-class companies recognize strategic sourcing as a value creator and consider it to be integral to their overall strategies for growth.

This highly-interactive PetroKnowledge training course has been specifically designed to focus procurement professionals on the many benefits of utilizing and working to a comprehensive strategic sourcing policy that encompasses real value for money; and highlights why the strategic sourcing approach allows procurement professionals to consolidate purchasing power in order to secure the best value available in the marketplace, in addition to:


Training Objectives click here

What are the Goals?

By the end of this training course, participants will be able to:

  • Gain stakeholder involvement and buy-in
  • Comprehensively understand both internal needs and the external supply market
  • Understand the Total Cost of Ownership (TCO)
  • Build effective RFIs and RFPs
  • Develop the right sourcing strategy to achieve tangible results

Target Audience click here

Who is this Training Course for?

This training course is designed for anyone involved in the sourcing process, particularly those who want to be able to define and quantify value to the business, and support it through analysis and understanding.

This PetroKnowledge course is suitable to a wide range of professionals but will greatly benefit:

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

Training Methods click here

How will this Training Course be Presented?

Using a unique blend of cutting-edge research and proven techniques, this training course will be delivered a recognised world-class procurement professional. Participants will increase competencies through a variety of instructional methods including lecture, exercises, reviewing published articles, checklists, videos, and group discussions. A comprehensive course manual enabling practical application and reinforcement is provided. Using the most up to date world-class materials, the instructor will take the participants through a journey of learning new skills and give them the confidence to use these skills on their return to their duties.

Daily Agenda click here

Day One: Defining and Implementing Effective Sourcing Strategies

Competency Description: As a Procurement Professional, it is vital that you understand the various strategies involved in sourcing activities.

Key behaviours

  • Strategic understanding
  • Benefits analysis
  • Defining excellence
  • Key elements of planning

Topics to be covered

  • The Importance of Strategic Sourcing in the Oil & Gas industry

  • Tactical versus Strategic Sourcing 

  • Strategic Sourcing Benefits 

  • Key Steps in a Strategic Sourcing Process
  • Developing a Strategic Sourcing Plan

Day Two: Strategic Sourcing Approach to Critical Success Factors

Competency Description: To be totally effective in your chosen profession, you must possess a deep understanding of the strategies and processes of the procurement department and the role you play in making sure that time, money and effort is not wasted though inefficiency and wasteful activities

Key behaviours

  • Understand the role and objectives of strategic sourcing within the organization
  • Procurement spend analysis
  • Building robust performance measures
  • Collaboration for effective specification development/impacts of failure

Topics to be covered

  • Organizational Commitment
  • Supply Market Understanding
  • Total Cost Evaluation
  • Modifying Approach Towards Suppliers
  • Organizational Role Changes
  • Culture / Processes for Continuous Improvement

Day Three: Creating Effective Oil & Gas Sourcing Teams

Competency Description: It is imperative that sourcing teams all work together to deliver the desired outcomes.  Procurement professionals must be capable of working with, and understanding end users’ requirements and then develop a comprehensive supplier portfolio to aid the selection of the right suppliers to exceed expectations

Key behaviours

  • Working in diverse teams
  • Managing expectations
  • Understanding scope of requirements
  • Develop supplier selection strategies

Topics to be covered

  • Understanding the Business Requirements
  • Supplier and Supply Market Research
  • Identification of Preferred Supplier(s) 

  • Supplier Selection Processes
  • Supplier Development and the Strategic Sourcing Process

Day Four: Leveraging Supply Management Tools and Techniques to Improve Cost Performance

Competency Description: Strategic sourcing is not just about cutting costs – it is based on understanding the differences between cost and value and how to conduct cost benefit analysis in order to source the highest quality materials/services at the optimum price.

Key behaviours

  • Understand the 25/75% rule of total ownership costs
  • Analyzing cost vs value
  • Risk understanding in strategic sourcing and costing
  • Price and value negotiation strategies

Topics to be covered

  • Major Procurement Challenges in Oil & Gas
  • Strategic Cost Management
  • Principles of Cost and Value Management.
  • Understanding the Total Cost of Ownership
  • Strategic Analysis and Generating Options
  • Analysing and Mitigating Risks

Day Five: Supplier Performance Management, Quality Management and Supply Based Integration

Competency Description: It is essential that procurement professionals understand the importance of supplier collaboration and how to implement the right measures and performance criteria to sustain continuous performance over the life of the contract.

Key behaviours

  • Developing a supplier engagement strategy
  • Choosing the right measures for the situation
  • Stakeholder engagement
  • Decision analysis

Topics to be covered

  • The Importance of Supplier Performance Management
  • Developing and Maintaining Long-term Supplier Relationships
  • Performance Measurement and Evaluation

  • Quality Management for Strategic Sourcing

  • “Speaking with one voice” to Suppliers

Related Courses click here


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Home » Courses » Contracts, Purchasing & Procurement Management » Strategic Sourcing for the Oil & Gas Industry
PetroKnowledge Training


Strategic Sourcing for the Oil & Gas Industry
Attaining Procurement Excellence


Code Date Venue Fees
MM116 09 - 13 Dec 2018 Dubai - UAE $4,750
MM116 08 - 12 Dec 2019 Dubai - UAE $4,950



Why Choose this Training Course?

Procurement in the Oil and Gas industry has always faced particular challenges. With the background of volatile oil and gas prices, marginal oilfields, extreme locations and new global business trends, the oil and gas industry is forced to seek better solutions to overcome these challenges. Procurement Leaders need to think about the sourcing strategies they employ to maximise the value they bring to their organizations.

Strategic Sourcing is a disciplined, multi-stage process that examines, addresses and optimizes the Total Cost of Ownership, and that typically involves cross-functional teams. This is why Strategic Sourcing is so critical and can have such a strong effect on the bottom line. Strategic Sourcing can go well beyond cutting costs. Best-in-class companies recognize strategic sourcing as a value creator and consider it to be integral to their overall strategies for growth.

This highly-interactive PetroKnowledge training course has been specifically designed to focus procurement professionals on the many benefits of utilizing and working to a comprehensive strategic sourcing policy that encompasses real value for money; and highlights why the strategic sourcing approach allows procurement professionals to consolidate purchasing power in order to secure the best value available in the marketplace, in addition to:


Training Objectives

What are the Goals?

By the end of this training course, participants will be able to:

Target Audience

Who is this Training Course for?

This training course is designed for anyone involved in the sourcing process, particularly those who want to be able to define and quantify value to the business, and support it through analysis and understanding.

This PetroKnowledge course is suitable to a wide range of professionals but will greatly benefit:

Training Methods

How will this Training Course be Presented?

Using a unique blend of cutting-edge research and proven techniques, this training course will be delivered a recognised world-class procurement professional. Participants will increase competencies through a variety of instructional methods including lecture, exercises, reviewing published articles, checklists, videos, and group discussions. A comprehensive course manual enabling practical application and reinforcement is provided. Using the most up to date world-class materials, the instructor will take the participants through a journey of learning new skills and give them the confidence to use these skills on their return to their duties.

Daily Agenda

Day One: Defining and Implementing Effective Sourcing Strategies

Competency Description: As a Procurement Professional, it is vital that you understand the various strategies involved in sourcing activities.

Key behaviours

Topics to be covered

Day Two: Strategic Sourcing Approach to Critical Success Factors

Competency Description: To be totally effective in your chosen profession, you must possess a deep understanding of the strategies and processes of the procurement department and the role you play in making sure that time, money and effort is not wasted though inefficiency and wasteful activities

Key behaviours

Topics to be covered

Day Three: Creating Effective Oil & Gas Sourcing Teams

Competency Description: It is imperative that sourcing teams all work together to deliver the desired outcomes.  Procurement professionals must be capable of working with, and understanding end users’ requirements and then develop a comprehensive supplier portfolio to aid the selection of the right suppliers to exceed expectations

Key behaviours

Topics to be covered

Day Four: Leveraging Supply Management Tools and Techniques to Improve Cost Performance

Competency Description: Strategic sourcing is not just about cutting costs – it is based on understanding the differences between cost and value and how to conduct cost benefit analysis in order to source the highest quality materials/services at the optimum price.

Key behaviours

Topics to be covered

Day Five: Supplier Performance Management, Quality Management and Supply Based Integration

Competency Description: It is essential that procurement professionals understand the importance of supplier collaboration and how to implement the right measures and performance criteria to sustain continuous performance over the life of the contract.

Key behaviours

Topics to be covered

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© 2018. Material published by Petroknowledge shown here is copyrighted.

All rights reserved. Any unauthorized copying, distribution, use, dissemination, downloading, storing (in any medium), transmission, reproduction or reliance in whole or any part of this course outline is prohibited and will constitute an infringement of copyright.


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