CILT Endorsed Strategic Sourcing: 7 Steps for Better |Meirc

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
Describe 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

Vendor integration
Vendor performance management
Sourcing strategies
Market analysis
Strategic thinking
Continuous performance improvement

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

Chartered Institute of Logistics and Transport (CILT)

Meirc is an Approved Training Provider (ATP) in the region for the Chartered Institute of Logistics and Transport (CILT). Established in 1919, CILT is the world’s leading supply chain, logistics and transport professional body with over 33,000 members across the globe. CILT seeks to add value to individual and corporate members by enhancing their knowledge, careers, and businesses by setting, supporting and delivering professional standards and education in the fields of logistics, transport and supply chain. By attending Meirc’s CILT accredited courses, participants can earn CPD units as well as attain modular unit award courses that can be combined for international certification

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2023 Schedule & Fees

There are no public sessions remaining for the course this year. Please contact us if you wish to have a customized in-house session, or to find out how an additional public session can be scheduled.

2024 Schedule & Fees

Fees

Per participant

USD 5450

Fees + VAT as applicable

(including coffee breaks and a buffet lunch daily)

Discount Plans & Cancellations Policy

Location & Date

11 - 15 Feb, 2024

Dubai

English

Venue to be assigned

1 - 5 Sep, 2024

Dubai

English

Venue to be assigned

Meirc reserves the right to alter dates, content, venue, trainer, and to offer courses in an integrated virtual learning (IVL) format whereby face to face classroom participants and virtual learners participate simultaneously in the same course in an interactive learning experience.

Tax Registration Number: 100239834300003

This course is also offered in Virtual Learning, click on the course below.

CILT Endorsed Strategic Sourcing: 7 Steps for Better Procurement Value - Virtual Learning

11 - 15 Feb, 2024

English

Virtual Learning

Overview

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
Describe 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

Vendor integration
Vendor performance management
Sourcing strategies
Market analysis
Strategic thinking
Continuous performance improvement

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