Name: Strategic Sourcing Training Course
Rating: 4.7 (1076 reviews)

Why Choose this Training Course?

Best-in-class companies recognize 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.

Strategically sourcing product or services 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.

This course will feature:

Strategic Sourcing: Critical Elements and keys to success
Strategic Sourcing as compared with tactical or transactional sourcing
The importance of Strategic Sourcing
Solicitation and negotiation strategy
Superior and sustainable supplier performance

What are the Goals?

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

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

Who is this Training Course for?

This course is designed for procurement professionals who need to understand the strategic sourcing process in order to participate in a strategic sourcing acquisition team.

This 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

How will this Training Course be Presented?

This course will utilise a variety of proven adult learning techniques to ensure maximum understanding, comprehension and retention of the information presented. This course will combine variety of instructional methods including lecture by a world-class subject matter expert in procurement and supply chain strategy. This is a highly interactive and competitive course where the participants will work and compete in team exercises, group discussions covering current practices and their relationship to the implementation of new concepts.

Daily Agenda

Day 1: Defining and Developing Effective Sourcing Strategies

Key Behaviours:

Understand the various strategies available
Decision making process
Working with diverse teams
Development of long term strategies

Topics to be Covered:

Defining Procurement Excellence
Tactical versus Strategic Sourcing
Strategic Sourcing Benefits
The Strategic Sourcing Process
Develop a Strategic Sourcing Plan
Develop the Acquisition Strategy

Day 2: Supply Management Analysis and Techniques used in Strategic Sourcing

Key Behaviours:

Understand the range of analytical tools and techniques to be used
Data Analysis and making informed decisions
Understanding Whole Life Costing
How to use Earned Value Management techniques

Topics to be Covered:

Procurement Analysis and Classification
Evaluate and Prioritize Commodities
Strategic Cost Management
Principles of Cost and Value Management.
Understanding the Total Cost of Ownership
Purchasing Analysis Tools and Techniques

Day 3: Sourcing Path Selection (Competition or Collaborative Supplier Development) and Supplier Performance Management

Key Behaviours:

Determining supplier evaluation criteria
Understanding the concept of solicitation and awarding of contracts
Effective negotiation tactics and strategies
Managing superior performance

Topics to be Covered:

Analyze the Supply Market and Identification of Preferred Supplier(s)
Supplier Development and the Strategic Sourcing Process
Proposal Solicitation and Evaluation
Negotiation Strategy – Competitive vs. Collaborative
The Importance of Supplier Performance Management
Developing and Maintaining Long-term Supplier Relationships

Certificate

On successful completion of this Training Course / Online Training Course, a PetroKnowledge Certificate / E-Certificate will be awarded to the delegates.

In Association With

Visit Website

Would an alternative date be more suitable?

We offer a variety of tailored training options, customized to meet your organisation's needs. Delivered anytime, anywhere, we make it easy to bring expert training directly to your team.

Related Categories

Contracts Management

Subscribe To Our Newsletter

Strategic Sourcing

Building Superior Capabilities for Strategic Sourcing