An Intensive 5-day Training Course
Strategic Sourcing: The Optimum Approach to Buying
Building Superior Capabilities for Strategic Sourcing
Course 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.
Strategic sourcing 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 Strategic Sourcing training course will feature:
- Strategic Sourcing: Critical Elements & Keys to Success
- Strategic Sourcing as compared with Tactical or Transactional Sourcing
- The Importance of Strategic Sourcing
- The Transition Process from Tactical to Strategic Sourcing
- Where e-Procurement Fits with Strategic Sourcing
Objectives
By the end of this Strategic Sourcing 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 Strategic Sourcing training course will utilise a variety of proven adult learning techniques to ensure maximum understanding, comprehension and retention of the information presented. This training 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 Strategic Sourcing training programme where the participants will work and compete in team exercises, group discussions covering current practices and their relationship to the implementation of new concepts.
Organisational Impact
- Develop critical supply strategies
- Understand the need for change to more strategic and innovative approaches
- An understanding of how to delineate between what is considered “tactical” and what is genuinely “strategic” when sourcing
- Evaluate how the strategies in place are delivering quantifiable value to the organization
- Define the end-to-end sourcing process and explore the relation of value to each of those areas
- Understand the 7 Phases of the Strategic Sourcing Process
Personal Impact
- Implement the strategic sourcing strategy to maximize total cost savings, value, vendor access, and socioeconomic participation
- Understand the actual requirements of why a service or product is being procured
- Confidence to develop strategy that will inform the approach to the supply market, factoring in the external environment and internal issues
- The tools with which to develop a sourcing process that factors in complexity around supply market and the relevant category
- Establish processes to track and manage performance of the strategic sourcing contract
- Apply best practices and lessons learned in strategic sourcing efforts
Who Should Attend?
This Strategic Sourcing training course is designed for procurement professionals who need to understand the strategic sourcing process in order to participate on a strategic sourcing acquisition team.
This Strategic Sourcing 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 One
Defining and Implementing Effective Sourcing Strategies
- Definition of Sourcing Strategy
- Defining Procurement Excellence
- Tactical vs. Strategic Sourcing
- Strategic Sourcing Benefits
- Industry and Strategic Sourcing
- The Strategic Sourcing Process
Day Two
Strategy Development and Commodity Management
- Develop a Strategic Sourcing Plan
- Evaluate and Prioritize Commodities
- Analyze The Supply Market
- Develop a Commodity Strategy
- Develop The Acquisition Strategy
- Develop a Transition Plan
Day Three
Sourcing Path Selection (Competition or Collaborative Supplier Development)
- Selection of Implementation Path
- Identification of Preferred Supplier(s)
- Supplier Development and The Strategic Sourcing Process
- Supplier Development Constraints
- Negotiation Strategy – Competitive vs. Collaborative
- Proposal Solicitation and Evaluation
Day Four
Leveraging Supply Management Tools and Techniques to Improve Performance
- Procurement Analysis and Classification
- Strategic Cost Management
- Principles of Cost and Value Management
- Understanding the Total Cost of Ownership
- Purchasing Analysis Tools and Techniques
- Performance Measurement and Evaluation
Day Five
Supplier Performance Management, Quality Management, and Supply Base Integration
- The Importance of Supplier Performance Management
- Developing and Maintaining Long-term Supplier Relationships
- Performance Measurement and Evaluation
- Quality Management for Strategic Sourcing
- Supply Base Integration and Development
- Pursuing Global Supply Management Excellence
Certificate
Oxford Management Centre Certificate will be provided to delegates who successfully completed the training course.
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FREQUENTLY ASKED QUESTIONS
To check on availability please call Registrar’s Office at +971 50 985 0174. If you have any questions or enquiries please feel free to contact us
- Telephone: +971 50 985 0174
- E-mail: [email protected]
Yes, we provide assistance in securing both hotel reservations & entry visa on all our international training venues, for delegates attending our training courses. For further information / assistance, please contact our Customer Service at:
- Telephone: +971 50 985 0174
- E-mail: [email protected]
Yes, Oxford Management Centre is accredited by the following professional bodies;
National Association of State Board of Accountancy (NASBA)
The Oxford Management Centre is registered with NASBA as a sponsor of Continuing Professional Education (CPE) on the National Registry of CPE Sponsors. NASBA have final authority on the acceptance of individual courses for CPE credit.
Yes, discounts are available. For further information please call +971 50 985 0174 or email, [email protected]
Note: Discounts are not applicable with any other special offer that may be available.
There are 2 easy ways to register:
- Online: Select the training course you want to register for, Click the “Book Your Place” button on the course page, complete the form and click submit.
- E-mail: Send your details to [email protected]
We request that all cancellations be made at least one week before the class start date. You may reschedule this class without any penalty. If not, a $250 fee will be charged for cancellations received less than one week before a class begins and for no-shows. Cancellation penalties and any fees incurred by Oxford Management Centre will be deducted from refunds.
For more information request, email [email protected] or call +971 50 985 0174.
The classroom training fees include course presentation, relevant materials, physical & digital documentation, lunch and refreshments served during entire training. Accommodation and transportation are not included in the training course fees.
While, online training fees cover the course presentation and digital documentation and relevant materials.
The Oxford Management Centre Certificate of Completion with corresponding CPE credits shall be awarded to delegates who has successfully completed the training course.
Payment must be received before the training course commences. You can make payment by bank draft, cash, credit card or wire transfer.
Note: If the payment is not received, Oxford Management Centre has the right to refuse admission.
Upon receipt of your registration form, we will send you the following by e-mail:
- Registration Confirmation
- Invoice/Receipt (where appropriate)
If you register online you will receive an e-mail within 24 hours confirming your registration.
