Supply Chain, Logistics & Warehouse Training

Strategic Sourcing Training

Strategic Sourcing is a purchasing process that takes a strategic approach to supplier relationships and purchase decisions.  Senior management of most leading companies in a variety of industries—manufacturing, distribution, and service—have identified purchasing as an “untapped gold mine” within their organizations.

As a result, the new sourcing paradigm is being referred to as Strategic Sourcing or Strategic Sourcing Management.  It incorporates a balanced sourcing approach that keeps your suppliers striving for innovation and efficiencies competitively in order to stake out a significant portion of your growing business every year.  This approach relies on an optimal number of suppliers and the right blend of cooperation and competition.  It encourages suppliers to invest in techniques and resources aligned to their customers’ long-term objectives while removing unnecessary costs and non-value added activities for the supply system.

This strategic sourcing training will address this new sourcing paradigm and its approach and will provide you with practical techniques and vital information to enhance your purchasing function’s overall strategic sourcing effort.

The changing role of the purchasing manager

Under Strategic Sourcing Management, purchasing managers are no longer mere buyers but become supply chain “owners” for the items or services they buy.  They focus on supply chain costs, capabilities, and risks at the product development or line-of-business concept stage.  Under this approach, purchasing managers are no longer gatekeepers but are collaborators to facilitate early supplier involvement and integration into the entire inbound logistical supply chain.  This approach cuts across vertical markets, including first, second, and third-tier supplier levels.

Purchasing managers in Strategic Sourcing Management environments become “reverse marketing” managers, evaluating and segmenting the supplier base to determine the appropriate supplier mix that can deliver the demands of the internal customer’s diverse needs or requirements.  These ground-breaking managers go beyond the foundation of identifying the right suppliers—they commit to developing supplier capabilities that meet business objectives driven by cross-functional teams.  This commitment is accomplished by developing a supplier partnering incentive system to promote supplier innovation and integration.

Through this approach, purchasing managers now focus on strategic costs (20-80 cents for every dollar of revenue is purchasing-related) by monitoring key cost drivers, supply markets, and competitive dynamics.  Functioning as risk managers, they cover decisions relating to availability, on-time delivery, and total cost of ownership through decisions relating to solicitation and contracts, commodity or service group management, price/cost mechanisms, and so on.  Additionally, they become the internal champions for their suppliers’ innovative, cost-saving ideas and value analysis/engineering suggestions.

If your purchasing function is not yet perceived as a new source of competitive advantage but as a limited process point, transaction-oriented, back-office operation, then this Strategic Sourcing training is for you!

Plan to attend this valuable workshop to learn the skills, concepts, and techniques you will need to have a significant impact on your organization’s bottom line.  Strategic sourcing training will give you the savvy to save time and money through sound purchasing decisions that further your business goals.

What you will learn strategic sourcing training?

  • Accommodate the cultural changes of integrated supply management and consider the elements of an effective supply chain strategy.
  • Align your supply base’s capabilities with your organization’s strategic initiatives.
  • Utilize the four-step process of strategic sourcing implementation using a cross-functional team approach.
  • Encourage and/or implement Early Supply Involvement in product design, outsourcing initiatives, or service solicitations.
  • Use supplier relationships, consolidation, alliances, partnering, and linking in a strategic approach to supplier relations and purchasing decisions.
  • Understand the significance of process management and why eliminating non-value added activities in the supply management process is so important.
  • Upgrade the way your company develops enhanced supplier relationships for competitive advantage.
  • Develop a plan and proven framework for Strategic Sourcing Management and required communication among stakeholders, suppliers, and internal customers.
  • Use reengineering, process mapping, and Activity Based Costing to develop, evaluate and improve the purchasing cycle process in your organization.
  • Apply the new skill sets and enabling technologies required to manage in today’s Strategic Supply Management environment.

The specific benefits of attending this strategic sourcing training

  • Discuss how to align your supply base’s capabilities with your company’s strategic initiatives.
  • Upgrade the way your company conducts its supply management activities and process.
  • Understand the significance of process management and non-value added activities.
  • Discuss how to get a competitive advantage through collaboration by involving suppliers in substantive company work plans.
  • Develop a plan to improve supply management and strategic sourcing.

Who should attend strategic sourcing training?

This facilitative workshop is designed to enhance the Strategic Sourcing initiatives and Strategic Supply Management currently undertaken or being considered at the participant’s organization.  It will be particularly beneficial to purchasing, procurement, acquisition, sourcing, materials, or logistics personnel who are responsible for tactical and strategic purchasing activity.

Note: Kindly provide company email address. Personal email addresses such as gmail, yahoo, hotmail and others will be filtered automatically by system.

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