Strategic Sourcing and Procurement Process Mastery

Details

This course delves into the complexities of procurement processes and strategic sourcing, focusing on the latest techniques and best practices. Participants will learn how to enhance the efficiency and effectiveness of the Purchase & Contracts Department, align procurement strategies with business goals, and manage risk and compliance within the supply chain.

Target Group

Target Group:

• Procurement Managers and Directors
• Strategic Sourcing Specialists
• Contracts Administrators and Managers
• Supply Chain Professionals
• Financial Officers involved in procurement planning

Goals

• Develop a comprehensive understanding of strategic sourcing principles.
• Master the procurement process from planning to contract management.
• Implement effective sourcing strategies that align with organizational objectives.
• Enhance negotiation skills to secure favorable terms and build strong supplier relationships.
• Apply risk management techniques to procurement activities to minimize vulnerabilities.

Target Competencies

Target Competencies:

• Strategic sourcing and procurement planning
• Contract negotiation and management
• Risk assessment and mitigation in procurement
• Supplier relationship management
• Procurement analytics and decision making

Outlines

Foundations of Procurement and Strategic Sourcing

• Exploring the role of procurement in organizational success.
• Key principles of strategic sourcing and its impact on business.
• The evolution of procurement from tactical to strategic roles.
• Integrating sustainability and ethical considerations in procurement practices.
• Overview of global sourcing and its challenges.

Procurement Process Lifecycle

• Steps in the procurement process: from need identification to contract closure.
• Techniques for effective requirement gathering and specification development.
• Best practices in supplier market research and pre-qualification.
• Advanced methods in RFP (Request for Proposal) development and bid management.
• Utilizing technology and e-procurement tools to streamline processes.