Strategic Sourcing

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.