An Intensive 5-day Training Course
Strategic Sourcing
The Optimum Approach to Buying
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.
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.
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.
This training course will feature:
- Strategic Sourcing: Critical Elements & Keys to Success
- Strategic Sourcing as compared with tactical or transactional sourcing
- The importance of Strategic Sourcing
- The transition process from tactical to strategic sourcing
- Where e-Procurement fits with Strategic Sourcing
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 PetroKnowledge course is designed for procurement professionals who need to understand the strategic sourcing process in order to participate on a strategic sourcing acquisition team.
This Strategis Sourcing training 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 training 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 programme 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 Implementing Effective Sourcing Strategies
- Definition of Sourcing Strategy
- Defining Procurement Excellence
- Tactical versus Strategic Sourcing
- Strategic Sourcing Benefits
- Industry and Strategic Sourcing
- The Strategic Sourcing Process
Day Two: 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
Day Three: Sourcing Path Selection (Competition or Collaborative Supplier Development)
- 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
Day Four: 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
Day Five: 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
Certificate
- On successful completion of this Training Course / Online Training Course, a PetroKnowledge Certificate / E-Certificate will be awarded to the delegates.
