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Sourcing

Course Summary

This training is designed to equip procurement professionals with comprehensive knowledge and practical skills essential for strategic sourcing excellence. This training program will delve into the methodologies, techniques, and best practices crucial for optimizing procurement processes, enhancing supplier relationships, and achieving cost-efficiency. Participants will gain insights into various strategic sourcing models, tools, and frameworks, enabling them to develop and implement effective sourcing strategies aligned with organizational objectives. The course emphasizes practical applications through workshops, case studies, and real-world scenarios to enable procurement professionals to drive significant value through strategic sourcing initiatives.

Course Objectives

Understand and Learn

  • Key concepts and elements of developing a Category Strategy
  • How to use and apply the Procurement Handbook and the Lever Selection Tool Bull’s Eye
  • How to manage and address all spend within Procurement Categories
  1. Introduction to Strategic Sourcing
  • Overview of Strategic Sourcing: Definition and Importance
  • Strategic Sourcing vs. Traditional Procurement Approaches
  • Understanding Total Cost of Ownership (TCO) in Sourcing
  • Case Studies: Successful Applications of Strategic Sourcing
  1. Strategic Sourcing Methodologies
  • Category Management and Strategic Sourcing Integration
  • Developing a Strategic Sourcing Plan: Objectives and Scope
  • Supplier Relationship Management (SRM) Strategies
  • Role of Technology in Strategic Sourcing
  1. Analytical Tools and Techniques
  • Spend Analysis: Data-Driven Decision Making in Sourcing
  • Market Analysis and Forecasting in Sourcing
  • Risk Assessment and Mitigation Strategies in Sourcing
  • Workshop: Applying Analytical Tools in Sourcing Scenarios
  1. Negotiation and Contracting Strategies
  • Advanced Negotiation Techniques for Strategic Sourcing
  • Contract Management Best Practices
  • Supplier Selection Criteria and Evaluation Metrics
  • Case Studies: Effective Negotiation and Contracting in Sourcing
  1. Implementing Strategic Sourcing
  • Developing Actionable Sourcing Strategies
  • Change Management in Implementing Sourcing Strategies
  • Performance Metrics and Continuous Improvement in Sourcing
  • Course Review, Feedback, and Closing Remarks

Pre-requisites: Basic experience in procurement

Target Audience

  • Category Managers
  • Other employees working within Category Management
  • Employees with an active role in the Plan-to-Strategy process

A pre-requisite for attending the course is ownership of a specific category or spend area.

Course Duration

2 Days

Facilitator

Ctrlpsend Procurement Employees

Course Fee

$600

Place

Classroom/Virtual upon request

Cancellation policy

Deadline for cancellation free of charge is 4 weeks prior to each course. In case of a cancellation later than that, the employee’s department will be charged the full course fee. The departments/business units are allowed to replace their participants.

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