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Procurement and Supply Chain Management
Strategic Sourcing
Overview:
Introduction:
This training program delves into the intricacies of strategic sourcing, offering participants a comprehensive understanding of its principles and methodologies. It empowers them to become strategic sourcing experts capable of driving cost savings and enhancing supplier relationships.
Program Objectives:
At the end of this program, participants will be able to:
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Understand the fundamentals of strategic sourcing and its importance in procurement.
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Identify sourcing opportunities and assess supplier capabilities effectively.
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Develop strategic sourcing plans aligned with organizational objectives.
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Implement negotiation techniques to achieve favorable terms and conditions.
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Evaluate supplier performance and manage supplier relationships for long-term success.
Targeted Audience:
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Procurement professionals.
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Sourcing managers and specialists.
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Supply chain analysts.
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Contract managers.
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Anyone involved in strategic procurement functions.
Program Outlines:
Unit 1:
Fundamentals of Strategic Sourcing:
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Introduction to strategic sourcing and its significance in procurement.
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Key principles and objectives of strategic sourcing.
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Strategic sourcing process: analysis, strategy development, execution, and evaluation.
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Role of strategic sourcing in achieving cost savings, quality improvements, and risk mitigation.
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Case studies illustrating successful strategic sourcing initiatives.
Unit 2:
Sourcing Opportunity Assessment:
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Identifying sourcing opportunities through spend analysis and market research.
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Assessing supplier capabilities, capacity, and performance.
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Conducting supplier segmentation to prioritize sourcing efforts.
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Analyzing Total Cost of Ownership (TCO) to evaluate sourcing alternatives.
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Examples to identify and prioritize strategic sourcing opportunities.
Unit 3:
Strategic Sourcing Planning and Strategy Development:
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Developing strategic sourcing plans aligned with organizational goals and objectives.
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Defining sourcing strategies based on category analysis and market dynamics.
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Implementing supplier relationship management strategies to foster collaboration and innovation.
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Establishing performance metrics and KPIs to measure sourcing effectiveness.
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Real-world examples of successful strategic sourcing planning and strategy development.
Unit 4:
Negotiation Techniques and Contract Management:
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Effective negotiation strategies and tactics for achieving win-win outcomes.
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Understanding negotiation styles and adapting to different situations.
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Contract management best practices, including contract drafting and review.
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Negotiating favorable terms and conditions while maintaining supplier relationships.
Unit 5:
Supplier Performance Management and Relationship Building:
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Evaluating supplier performance against predefined metrics and benchmarks.
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Implementing supplier scorecards and performance improvement plans.
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Strategies for managing supplier relationships and resolving conflicts.
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Enhancing collaboration and communication with strategic suppliers.
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Case studies on effective supplier performance management and relationship building.