Seven Step Strategic Sourcing

The development and implementation of carefully crafted strategies for the acquisition of all goods, equipment, materials, and services have become a critical issue in all organizations wishing to reduce operating cost while improving quality and productivity. This program explores seven key areas considered critical to the future success of Procurement Organizations and moves today’s supply management activities from its typical tactical focus to the strategic focus needed to successfully implement the processes and methods needed to reach world-class performance now and maintain it in the future.

You Will Learn
•    7 Areas Critical To Future Procurement Success
•    4 Stages To World Class Supply Management
•    Many Increased Skill Sets In Supply Management 
•    Supplier Segmentation Model And Their Strategies
•    3 Categories For Organizing The Spend Profile for increased effectiveness
•    Steps In Improving Internal And External Collaboration
•    How To Develop A “Purchasing Hierarchical Coding System” 
•    How To Get More Time To Work On Strategic Issues
•    The Important Sections To Include In A Strategic Sourcing Plan
•    Total Cost of Ownership Models 

What’s in it for the organization? 
The organization will benefit by:
•    The greater strategic focus of those involved in supply management resulting in an improved bottom line
•    Higher productivity of personnel involved in supply management activities 
•    Reduced total cost of ownership for purchased materials, equipment, and services
•    Improved productivity of the entire organization by better on-time delivery of high-quality goods and services
•    Improved supplier performance and relations
•    Increased customer satisfaction

What’s in it for you? 
Attendees will gain by participation in this program as a result of:
•    Increased skill sets in supply management 
•    A greater sense of professionalism
•    Knowledge of world-class supply management practices
•    Greater ability to lead continuous improvement programs
•    Increased recognition by the organization due to improved performance

Who Should Attend:
•    Managers and Professionals in Purchasing, Procurement, and Supply Management 
•    Materials, Contracts, Projects, Maintenance, Operations, and Financial Managers and,    
•    All other Managers and Professionals interested in lowering total cost and increasing productivity and profit contributions from better supply management operations.


Seminar Outline

Step 1:  Developing Category Strategies 
•    7 Areas Critical to Future Procurement Success
•    4 Stages To World Class Supply Management
•    Developing The Spend Profile
•    Creating Time To Be Strategic
•    Material/Services Hierarchical Purchasing Code Development
•    Segmentation/Category Management Model 
Step 1 reviews the elements essential to becoming more strategic and adding real value to the organization.

Step 2:  Developing and Managing Suppliers
•    Bidder Qualification And Selection Best Practices
•    Supplier Performance Measurement Best Practices 
•    Objectives of Supplier Performance Measurement
•    Supplier Performance Measurement Key Points
Step 2 recognizes that an organization can perform no better than its suppliers. 

Step 3:  Designing and Operating Multiple Supply Networks
•    Supply Chain Mapping
•    Reducing Waste in the Supply Chain
•    Typical Supplier Risk Management Process
•    Total Cost of Ownership
Step 3 focuses on the understanding that the best way to increase profit is by reducing the Total Cost of Ownership for every member of the entire supply chain.

Step 4:  Leveraging Technology Enablers
•    Reengineering The Processes
•    SRM and Integration
•    Exception Management
Step 4 recognizes that world-class organizations no longer talk about whether or not they should improve their processes, but how fast they can improve them.

Step 5:  Collaborating Internally and Externally 
•    Supplier Relationship Management Maturity Model 
•    Being an “A” Customer
•    Developing Trust
Step 5 identifies many best practices that contribute to improving both buyer and supplier performance.

Step 6:  Attracting and Retaining Supply Management Talent
•    Supply Management Competencies
•    Key to Success in Supply Management Departments
•    Example Job Descriptions For Purchasing 
•    Training Programs
Step 6 focuses on the fact that Supply Management skill sets are a predictor of the supplier’s responsiveness to the buying organization’s requirements and are positively related to a firm’s financial performance.

Step 7:  Managing and enabling the Future Supply Management Organization 
•    Purchasing Impact On The Bottom Line 
•    Key Performance Measurements  
•    Strategic Sourcing Plans
Step 7 brings to the conclusion many of the important issues covered in previous steps and adds some practical implementation approaches to show Procurements contributions to the organization