Strategic sourcing is an approach to supply chain management that formalizes the way information is gathered and used so that an organization can leverage its consolidated purchasing power to find the best possible values in the marketplace. This requires analysis of what an organization buys, from whom, at what price and at what volume. Strategic sourcing differs from conventional purchasing because it places emphasis on the entire life cycle of a product, not just its initial purchase price.

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. This course is designed to help procurement professionals acquire the competencies required to excel in today's business environment.

For whom:

This program is designed for purchasing and supply chain management professionals at all levels of the organization, as well as other company personnel involved in the purchasing process.

Learning objectives:

At the end of the course, participants will be able to: 

• Recognize trends and modern practices in supply chain management
• Analyze internal spending and supply market dynamics to provide a foundation for a 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