Effective Sourcing Strategy

Effective Sourcing Strategy

PROGRAM OBJECTIVES
After attending participants will be better able to:

• Understand concept of strategic procurement and sourcing strategy
• Analyze the supply chain and develop appropriate supply strategies for your organization’s supply categories.
• Identify and develop the appropriate types of relationships to foster with your suppliers.
• An understanding of different sourcing methods, including e-sourcing, competitive tendering, sole sourcing, single sourcing, multi-stage bidding, and others.
• An appreciation of the value and limitations of early supplier involvement, open book pricing, long term agreements, risk and revenue sharing arrangements.

PROGRAM CONTENT

• The concept of effective strategic procurement
• Strategic sourcing process – An overview of the strategic sourcing process and context.
• Strategic sourcing initiation – Assessing the current structure and performance of the supply network.
• Supply chain analysis – Assessment of the supply network using various tools to analyze current and forecasted needs.
• Strategy creation – Interpreting data and structuring the supply network to deliver maximum value. Identifying and developing appropriate category strategies.
• Strategy implementation – Assessing risks and opportunities in strategy implementation. Identifying and selecting appropriate tools for sourcing within categories. Apply the most effective means of selecting and managing suppliers.