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Strategic Sourcing: An Intensive Workshop

Strategic Sourcing: An Intensive Workshop

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Overview
Why Attend

Procurement spend could reach 80% of an organization’s revenue. Therefore, procurement is a vital component of the organization with increasing pressure on practitioners to abandon tedious administrative tasks in favor of a more central strategic role. This role requires procurement teams to assess procurement spend, analyze complex market segments, engage suppliers, develop sophisticated go-to-market strategies and lead make-or-buy decisions. The intended outcomes, of course, are ensuring security of supply, generating savings and satisfying internal customers.  This course is designed to help procurement professionals acquire the competencies required to excel in today’s business environment.

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:

  • Recognize trends and modern practices in supply chain management
  • Analyze internal spend and supply market dynamics to provide a foundation for strategic sourcing plan
  • Apply different sourcing strategies to optimize savings and ensure supply security
  • Utilize supplier integration techniques for sustainable supplier relations
  • Apply Supply Chain Operations Reference (SCOR) framework for management of supply chain performance
Target Audience

Purchasing and supply chain professionals at all levels of the organization.

Target Competencies
  • Sourcing strategies
  • Market analysis
  • Risk management
  • Strategic thinking
  • Continuous improvement
Note

In order to earn a CILT Certificate of Attendance (40 CPDs), participants are required to attend the course in full and to complete a post-course assignment.

Course Outline
  • Fundamentals of supply chain management
    • Supply chain overview
    • Sustainability in supply chains and logistics
    • Supply chain configuration
    • The 3 Vs of supply chain management
    • The role of procurement in supply chain
    • Introducing the purchasing decision matrix
  • Analysis of spend groups
    • 7 steps to strategic sourcing
    • Analyzing spend categories
      • Profiling spend categories
      • Analyzing financial impact
      • Assessing market risks
      • Consolidating category reports
    • Operating the strategic sourcing toolkit
    • Segmentation and analysis of suppliers
    • Calculating Total Cost of Ownership (TCO)
  • Identification and utilization of sourcing strategies
    • Mapping spend categories using purchasing strategy matrix
      • Routine items
      • Bottleneck items
      • Tactical items
      • Strategic items
    • Managing balance of power in buyer-supplier relations
    • 6 sourcing strategies
    • Applying sourcing strategies effectively
  • Supplier Integration Strategies
    • Prequalifying suppliers
    • Managing supplier certification programs
    • Partnering with suppliers
    • Managing Supplier Level Agreements (SLAs)
  • Supply Chain Operations Reference (SCOR) framework for performance management
    • SCOR framework overview
    • Identifying level 1, 2 and 3 SCOR metrics
    • Customizing level 4 SCOR metrics
    • Setting performance targets
    • Continuous performance improvement
Schedule & Fees