The Effective Approach to Buying : Strategic Sourcing

OBJECTIVE:
By the end of this training seminar, 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

CONTENT:
Defining and Implementing Effective Sourcing Strategies
• Definition of Sourcing Strategy
• Defining Procurement Excellence
• Tactical vs. Strategic Sourcing
• Strategic Sourcing Benefits
• Industry and Strategic Sourcing
• The Strategic Sourcing Process

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

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

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

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

FOR WHOM:
Stores Purchasing and Logistics Personnel in the Public and Private Sectors

Methodology
The training methodology integrates lectures, interactive discussions, collaborative group exercises, and illustrative examples. Participants will acquire a blend of theoretical insights and hands-on practical experience, emphasizing the application of learned techniques. This approach ensures that attendees return to their professional environments equipped with both the competence and self-assurance to effectively implement the acquired skills in their responsibilities.

DATE:

1ST BATCH:        18th – 21st Feb,               2025     

2ND BATCH:       22nd – 25th July,              2025