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Course Schedule

We currently have no scheduled session for this Course. If you are interested in running this course, please contact our Training Department at [email protected]

Course Description

INTRODUCTION

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 GLOMACS training 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

Objectives

By the end of this GLOMACS training 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

Training Methodology

This GLOMACS 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 GLOMACS training 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.

WHO SHOULD ATTEND?

This GLOMACS training 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 GLOMACS 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
Course Outline

DAY 1

Defining and Developing Effective Sourcing Strategies

  • Defining Procurement Excellence
  • Tactical versus Strategic Sourcing
  • Strategic Sourcing Benefits
  • The Strategic Sourcing Process
  • Develop a Strategic Sourcing Plan
  • Develop the Acquisition Strategy

DAY 2

Supply Management Analysis and Techniques Used in Strategic Sourcing

  • 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 3

Sourcing Path Selection (Competition or Collaborative Supplier Development) and Supplier Performance Management

  • 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
Certificates
  • On successful completion of this training course, GLOMACS Certificate will be awarded to the delegates
  • Continuing Professional Education credits (CPE) : In accordance with the standards of the National Registry of CPE Sponsor, one CPE credit is granted per 50 minutes of attendance
Providers and Associations

Endorsed Education Provider

  • Quality Logo

GLOMACS is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org

In Association With

PetroKnowledge

PetroKnowledge

Our collaboration with Petroknowledge aims to provide the best training services and benefits for our valued clients

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