Strategic Sourcing and Purchasing

The "Strategic Sourcing & Purchasing" course is designed for professionals involved in procurement and sourcing activities. Over two days, participants will explore strategic approaches to sourcing and purchasing, emphasizing the importance of aligning procurement with organizational goals. The course covers essential concepts such as supplier management, cost optimization, risk mitigation, and strategic decision-making to enhance the effectiveness of procurement processes.

Statistics:

According to a report by Deloitte, organizations with mature strategic sourcing processes can achieve cost savings of up to 20%.

The World Economic Forum notes that 70-80% of a company's revenue is spent on goods and services, underscoring the strategic importance of effective sourcing and purchasing.

Course Objectives:

Upon completion of the course, participants will be able to:

• Understand the strategic role of sourcing and purchasing in organizational success.
• Develop and implement effective sourcing strategies aligned with business objectives.
• Enhance supplier relationships and optimize procurement costs.
• Mitigate risks and make strategic decisions in the procurement process.

Benefits of Attending:

For Participants:

• Acquire strategic sourcing skills to advance their career in procurement.
• Enhance decision-making abilities in sourcing and purchasing processes.
• Network with industry professionals and peers.

For Organizations:

• Improve cost efficiency through strategic sourcing and purchasing.
• Strengthen supplier relationships for long-term collaboration.
• Enhance overall procurement effectiveness and contribute to organizational success.

Course Outlines:

Day 1: Module 1 - Fundamentals of Strategic Sourcing

• Introduction to Strategic Sourcing: Understanding the strategic role of procurement.
• Aligning Sourcing with Organizational Goals: Integrating procurement strategies with business objectives.
• Market Analysis and Trends: Analyzing market dynamics to inform sourcing decisions.
• Strategic Sourcing Process: Overview and key stages in the strategic sourcing process.

Day 1: Module 2 - Supplier Management and Collaboration

• Supplier Relationship Management (SRM): Developing and maintaining positive supplier relationships.
• Supplier Evaluation and Selection: Criteria for selecting strategic suppliers.
• Negotiation Strategies: Effective negotiation techniques for favorable agreements.
• Collaborative Sourcing Practices: Enhancing collaboration for mutual benefit.

Day 2: Module 3 - Cost Optimization in Sourcing

• Total Cost of Ownership (TCO): Evaluating the full cost implications beyond purchase price.
• Cost Analysis Techniques: Utilizing cost analysis tools for informed decision-making.
• Value Engineering: Optimizing value in procurement processes.
• *Cost Reduction