Course Overview
Strategic sourcing is a critical function that drives competitive advantage through effective procurement and supplier relationship management. This advanced course builds on foundational sourcing knowledge, focusing on sophisticated strategies, tools, and analytics to optimize supplier selection, negotiate better contracts, and manage risks. Participants will learn to align sourcing strategies with business goals and create value across the supply chain.
Course Objectives
By the end of this course, participants will be able to:
- Apply advanced strategic sourcing frameworks and methodologies
- Conduct comprehensive market and supplier analyses
- Develop effective supplier segmentation and risk management strategies
- Utilize negotiation tactics to maximize value and minimize costs
- Leverage technology and data analytics in sourcing decisions
- Build and manage collaborative supplier partnerships
- Integrate sustainability and ethical considerations into sourcing strategies
- Measure sourcing performance and continuous improvement
Who Should Attend
This course is ideal for:
- Procurement and sourcing professionals seeking advanced skills
- Supply chain and category managers
- Contract managers and negotiators
- Supplier relationship managers
- Business leaders involved in procurement strategy
Course Outline
- Strategic Sourcing Frameworks and Processes
- Overview of strategic sourcing lifecycle
- Advanced sourcing models and approaches
- Aligning sourcing strategy with organizational objectives
- Market and Supplier Analysis
- Conducting market research and competitive analysis
- Supplier capability and risk assessment
- Total cost of ownership (TCO) analysis
- Supplier Segmentation and Relationship Management
- Criteria for supplier segmentation
- Strategic, preferred, and transactional suppliers
- Building supplier collaboration and innovation partnerships
- Advanced Negotiation Techniques
- Preparing for complex negotiations
- Negotiation strategies and tactics
- Handling conflicts and creating win-win outcomes
- Technology and Data Analytics in Sourcing
- E-sourcing tools and platforms
- Using big data and analytics for supplier selection
- Supplier performance monitoring systems
- Risk Management and Compliance
- Identifying and mitigating sourcing risks
- Managing supplier compliance and ethical sourcing
- Incorporating sustainability and corporate social responsibility
- Performance Measurement and Continuous Improvement
- Key performance indicators (KPIs) for strategic sourcing
- Supplier scorecards and audits
- Lean and Six Sigma applications in sourcing
- Case Studies and Practical Exercises
- Real-world examples of advanced sourcing strategies
- Group exercises on supplier evaluation and negotiation simulations
- Developing a strategic sourcing improvement plan