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Strategic Sourcing and Supplier Relationship Management

Strategic sourcing is an institutional procurement process that continuously improves and re-evaluates the purchasing activities of a company.  Procurement is the acquisition of goods, services or works from an external source. It is favorable that the goods, services or works are appropriate and that they are procured at the best possible cost to meet the needs of the purchaser in terms of quality and quantity, time, and location. Corporations and public bodies often define processes intended to promote fair and open competition for their business while minimizing exposure to fraud and collusion.

Supplier relationship management (SRM) is the discipline of strategically planning for, and managing, all interactions with third party organizations that supply goods and/or services to an organization in order to maximize the value of those interactions. In practice, SRM entails creating closer, more collaborative relationships with key suppliers in order to uncover and realize new value and reduce risk.

Topic Preview:

  • What is strategic sourcing?
  • Total cost and decision making process
  • The importance of systems thinking and stability
  • Global sourcing issues
  • How to calculate total cost
  • Supplier relationships
  • Supplier collaboration
  • Supplier evaluation and scorecards

What you will learn:

  • How to determine total landed cost and the importance of it
  • To determine when to buy versus make
  • To understand long term supply requirements
  • Determine appropriate supplier categories based spend
  • How to manage supplier performance
  • System performance stability techniques
  • The complexities of global sourcing
  • Techniques to measure, evaluate, and manage suppliers and costs

Registration begins at 7:30 a.m. for all classes (breakfast included). Class will run from 8:00 a.m. to 4:00 p.m.

Price:$1,300.00

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Center for Supply Chain Management

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