An Intensive 3-day Training Course
Strategic Sourcing
Building Superior Capabilities for Strategic Sourcing
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We don’t have a scheduled session for this course at the moment. For more information and to enquire about future sessions, please feel free to reach out to our Training Department ([email protected])
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 One: 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 Two: 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 Three: 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.
