Strategic Sourcing: 7 Steps for Better Procurement Value |Plus

Overview

Why Attend

The procurement department is often viewed and managed as an administrative function, with sourcing activities executed at arms length. Strategic sourcing addresses this issue by providing a strategic approach towards optimizing and continuously improving sourcing activities using a proven 7-step methodology. In this course, we describe the steps entailed in the strategic sourcing process. We outline an approach for developing product categories via an analysis of organizational spend. We then discover six go-to-market strategies and describe how each can be matched with different product categories. Finally, we identify the appropriate Key Performance Indicators (KPIs) required for the continuous improvement of sourcing activities.

Course Methodology

This course uses a variety of individual and team exercises, case studies, questionnaires and videos.

Course Objectives

By the end of the course, participants will be able to:

Analyze internal spend and supply market dynamics to provide a foundation for sourcing plans
Execute different sourcing strategies to optimize savings and ensure supply security
Identify appropriate suppliers for effective execution of sourcing plans
Develop operational and strategic procurement processes for better value
Implement different purchasing methods to streamline procurement operations
Apply supplier integration techniques for sustainable supplier relations
Manage performance of procurement processes for continuous improvement

Target Audience

Purchasing and supply chain professionals at all levels of the organization as well as other company personnel who are involved in the purchasing process.

Target Competencies

Integrating vendors
Managing vendor performance
Applying sourcing strategies
Analyzing markets
Thinking strategically
Improving performance

Course Outline

Step 1: Analyze spend categories
- Recognizing strategic role of procurement
- Strategic sourcing in supply chain context
- 7 steps to strategic sourcing
- Analyzing spend categories
  - Profiling spend categories
  - Analyzing financial impact
  - Assessing market risks
  - Consolidating category reports
- Applying Total Cost of Ownership (TCO)
Step 2: Develop sourcing strategies
- Mapping spend categories using purchasing strategy matrix
  - Routine items
  - Bottleneck items
  - Leverage items
  - Strategic items
- Managing balance of power in buyer-supplier relations
- 6 key sourcing strategies
- Applying sourcing strategies effectively
Step 3: Identify suppliers
- Locating suppliers
- Registering suppliers
- Assessing suppliers
- Sourcing locally
- Describing vendor diversity programs
Step 4: Develop procurement processes
- Scoping procurement processes
- Describing strategic and operational processes
- Developing procurement processes
- Rules governing use of flowchart symbols
- Integrating ethical principles
Step 5: Implement procurement processes
- Managing RFI, RFQ and RFP processes
- Defining bid evaluation criteria
- Implementing innovative purchasing methods
- Using purchasing decision matrix
- Employing purchasing templates
Step 6: Integrate suppliers
- Prequalifying suppliers
- Managing supplier certification programs
- Partnering with suppliers
- Managing Supplier Level Agreements (SLAs)
- Typical SLA table of contents
Step 7: Manage procurement performance for continuous improvement
- Managing a strategic sourcing plan
- Measuring, analyzing and reporting on performance
- Developing improvement initiatives
- Institutionalizing supplier report cards
- Bringing it all together

Schedule & Fees

2026 Schedule & Fees

1–5 Nov 2026

Language English
City

USD 3,000

Per participant

1–5 Nov 2026

Language Arabic
City

USD 3,000

Per participant

22–26 Nov 2026

Language English
City

USD 3,000

Per participant

22–26 Nov 2026

Language Arabic
City

USD 3,000

Per participant

2027 Schedule & Fees

31–4 Jan – Feb 2027

Language English
City

USD 3,000

Per participant

31–4 Jan – Feb 2027

Language Arabic
City

USD 3,000

Per participant

21–25 Feb 2027

Language English
City

USD 3,000

Per participant

21–25 Feb 2027

Language Arabic
City

USD 3,000

Per participant

2–6 May 2027

Language English
City

USD 3,000

Per participant

2–6 May 2027

Language Arabic
City

USD 3,000

Per participant

23–27 May 2027

Language English
City

USD 3,000

Per participant

23–27 May 2027

Language Arabic
City

USD 3,000

Per participant

1–5 Aug 2027

Language English
City

USD 3,000

Per participant

1–5 Aug 2027

Language Arabic
City

USD 3,000

Per participant

22–26 Aug 2027

Language English
City

USD 3,000

Per participant

22–26 Aug 2027

Language Arabic
City

USD 3,000

Per participant

31–4 Oct – Nov 2027

Language English
City

USD 3,000

Per participant

31–4 Oct – Nov 2027

Language Arabic
City

USD 3,000

Per participant

21–25 Nov 2027

Language English
City

USD 3,000

Per participant

21–25 Nov 2027

Language Arabic
City

USD 3,000

Per participant

Strategic Sourcing: 7 Steps for Better Procurement Value

Overview

Why Attend

Course Methodology

Course Objectives

Target Audience

Target Competencies

Course Outline

Schedule & Fees

2026 Schedule & Fees

2027 Schedule & Fees

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