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Fundamentals of Strategic Sourcing

Upcoming Dates

You have the fundamentals down, now it’s time to take the next step. This seminar is an excellent follow- up to the Fundamentals of Purchasing because it offers the knowledge you need to succeed as you grow in your supply management career. This strategic-focused seminar offers hands-on exercises using quadrant analysis and supplier evaluations. It also examines how to developing content for a service-related RFP.

Who should attend

Supply management professionals who have taken the Fundamentals of Purchasing seminar and are seeking the next step in their continuing education.

You will earn 14 CEHs for this seminar

You will learn

  • Supply management strategy and techniques for developing a strategy
  • Key elements of negotiation
  • How to develop a strategic sourcing process
  • Supplier management methods
  • Cost management tools and techniques.

Course Outline

  1. The importance of teamwork in supply management
  2. Supply management’s contribution to organizational success: Supply management’s role in organizational success; The typical evolution of purchasing to supply management; Supply Management’s strategic roles
  3. C. Supply management strategy: Reasons for strategy development; Techniques for developing supply strategy – Strategy development using the “Should Be” strategy development model.
  4. The Strategic sourcing process:

    1. Identify and define the project
    2. Justifying the project internally and selling it to stakeholders
    3. Forming the project team
      1. A typical team model
      2. Roles of team members
      3. Creating performance incentives
  5. Supplier management methods: spend analysis, supplier identification, evaluation, and selection, Metrics for supplier selection and management, supplier quality assurance, supplier solicitation methods (EOI, RFI, RFQ, RFP, 2-Step Bidding), performance management, compliance management, continuous improvement, outsourcing overview, domestic vs. offshore requirements
  6. Cost management tools and techniques: total cost of ownership, cost-drivers, price analysis, cost analysis, price management techniques
  7. Contract management: What is "contract management"?, objectives of contract management, important legal aspects of supply management, Article 2 of the Uniform Commercial Code, key legal considerations, The convention for the International Sale of Goods
  8. Ethical considerations in supply management: What is ethics? What is ethical behavior? Gifts and gratuities, ISM Principles and Standards
  9. Key elements of negotiation: negotiation defined, negotiation styles, The negotiation process, preparation, people factors, reaching a mutually satisfactory agreement, closure, post negotiation.


Upcoming Dates & Locations

August 13-14, 2019 Boston, MA Register


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