Strategic Sourcing and Supplier Relationships.

Description

Strategic sourcing is core activity in procurement and supply management. It is a complex commercial process requiring extensive knowledge and competence. Strategic sourcing can be defined as ‘satisfying business needs from markets via the proactive and planned analysis of supply markets and the selection of suppliers with the objective of delivering solutions o meet predetermined and agreed business needs. The participants will be able to understand the logical processes involved in strategic source, with contemporary approach on obtaining goods and services effectively and efficiently.

Learning Outcome

Participants will be able to:

1. Understand and explain the importance of strategic sourcing.
2. Assess and prioritize opportunities for savings through strategic sourcing.
3. Evaluate the best approach to ‘go to market’ to evaluate and recommend the best source of supply of goods and services.
4. From the supply chain perspective, apply the best practices and lessons learned in strategic sourcing.
5. Understand the importance of establishing long term business relationship with the suppliers.

Target Audience

Anyone in procurement and supply role or looking at enhancing their knowledge in procurement and supply.