Strategic Sourcing

Strategic sourcing is an approach to supply chain management that gather and use information so an organization can use its consolidated purchasing power to find the best possible values in the marketplace and align its purchasing strategy to business goals. 

Digital transformation is causing procurement and supply chain processes to evolve. You need to analyses what your organization buys, from whom, at what price and at what volume.

It is different from the conventional purchasing because it places emphasis beyond initial purchase price to focus on total cost of ownership and optimizing the sourcing process through ongoing market analysis and building relationships with suppliers.

The best-in-class companies sees strategic sourcing as a value creator and integral for long term 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. This workshop addresses these and talk delegates through a journey of 360 value creation.

By the end of this Implementation of Strategic Sourcing program, you will be able to:

• Develop strategic sourcing strategies to achieve tangible results
• Implement the strategic sourcing strategy to maximize total cost savings
• Assess and prioritize opportunities for savings
• Identify execution gaps in procurement
• Avoid of the pitfalls and shortfalls of purchasing and supplying

Course benefits

• Enable organizations to probe and find the root of the problems
• Empower key departments to synergize and leverage
• Manage the strength and weakness in fulfilment aims

All executives and managers involve in Purchasing and Supplying, Finance and Costing, Order and Sales Planning.

• The four objective phases flow
• The three segmented rationale
• The make or buy strategic decision

• Core competency and supplier dominance
• Strategic vulnerabilities and vertical integration
• Product development and lean management

• SWOT matrix of strength and weakness
• PORTER’s five forces of competitive strategy
• GROVE’s six models of paranoid survival

• Internal and external threats
• Security monitoring deviation
• Disclosure of confidential data

• Discovery and Evaluation
• Selection and Development
• Monitoring and control

• Cost and quality consideration
• Freight and logistics precaution
• Interdependency and risk apportion

• The seven supplier evaluation steps
• The six supplier development project flow
• The twelve supplier relationship barriers

• Implementing Category Management
• Executing Demand Management
• Strengthening Supply Chain Management

An interactive based workshop with assignments and interactive group activities reinforcing the understanding of learning points and related participant’s job scope

“Before attending the course, I am not sure if I am doing the right thing.  During the course, I learned about Strategic Sourcing, Logistic, Supplier Relationship, SOW, Incoterm 2020, marine Insurance CIF. After the course, I feel confidence. The trainer is very knowledgeable in the subject matter.” Head Of Sirim Berhad, Malaysia

“Before attending the course, I feel would like to learn new about procurement management. During the course, I learned about The Relationship Between Procurement, Supplier Management And Purchasing, 3 golden rules negotiation, framework in purchasing , detail incoterms 2010 and 2020. After the course, I feel good and give me new knowledge about strategic procurement, negotiation and incoterms. The trainer is very good have more knowledge and experience. Able to answer all question and easy to understand." Procurement of Sirim Berhad, Malaysia

6% SST is chargeable, excluded in the quoted fee above