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Fundamentals of Strategic Sourcing

You’ve got the fundamentals of supply management down and are off-and-running in your purchasing career. Now, it’s time to take the next step and boost your skills and knowledge for even greater success. This sourcing training will provide you with the knowledge and skills you need to succeed and offers hands-on exercises using quadrant analysis and supplier evaluations. It also examines how to develop content for a service-related RFP. This course will ensure you have the most up-to-date skills and knowledge for strategic sourcing. You’ll gain resources to add new value to your organization. This course is an excellent follow-up to the Fundamentals of Purchasing course.

Member Price: $1,199.00

List Price: $1,499.00
VIRTUAL CLASS

Date

Oct 19-20, 2021

Add To Calendar 10/19/2021 10:00:00 AM 10/20/2021 6:00:00 PM ET Fundamentals of Strategic Sourcing Online

Location

Online
Format
Virtual Class
CEH Credits
14.0
Product Code
VC-4334-21

Additional Information

Presenters

Ana Brasher is an experienced leader distinguished for her track record at successfully identifying and unlocking business value trapped in supply chain sourcing and procurement within the Chemical, Oilfield, Logistics and Manufacturing industries. As founder of SupplySense Consulting, Ana helps clients increase profitability using diagnostic spend analysis, opportunity mapping, 360 Supplier Review™ and targeted procurement strategies. Her approach blends insightful and practical approaches for supply chain sourcing and procurement with strategic business acumen. She uses her clients’ internal expertise and existing resources to navigate the journey to cost reduction. Ana is energized by new challenges, digging into the data, and collaborating with internal stakeholders to optimize processes and execute solutions that meet profitability goals. SupplySense builds on Ana’s 25 years in leadership roles for Operations Support, Business Development and Supply Chain with multi-billion-dollar global company, Baker Hughes. Her consistent focus was on the transformation of teams from tactical to strategic work and the hard and soft business benefits that result. A notable success she led during the downturn achieved double digit cost reductions over 3 years AND produced unprecedented supplier collaboration. Ana is a native Houstonian and graduated from Texas A&M University in Industrial Engineering. She is an Aggie, proud mother of Aggies and married to an Aggie. She enjoys watching sports with her family, being active outside and all activities related to water.

Description

What You Will Learn:

  • Supply management strategy and techniques for developing a strategy
  • Key elements of negotiation
  • How to develop a strategic sourcing process
  • Quadrant analysis and supplier evaluations
  • Develop content for service-related RFP
  • Supplier management methods
  • Cost management tools and techniques

Virtual Class Schedule:

Day 1 - 10:00 am ET - 1:30 pm ET / 7:00 am PT - 10:30 am PT (3.5 hours), Break for Lunch
Day 1 - 2:30 pm ET - 6:00 pm ET / 11:30 am PT - 3:00 pm PT (3.5 hours)
Day 2 - 10:00 am ET - 1:30 pm ET / 7:00 am PT - 10:30 am PT (3.5 hours), Break for Lunch
Day 2 - 2:30 pm ET - 6:00 pm ET / 11:30 am PT - 3:00 pm PT (3.5 hours)

Course Overview & Goals:

  1. The importance of teamwork in supply management.
  2. Supply management’s contribution to organizational success and supply management's strategic roles.
  3. The typical evolution of purchasing to supply management.
  4. Techniques for developing supply strategy including using the “Should Be” strategy development model.
  5. The Strategic sourcing process including: identifying and defining the project; justifying the project internally and selling it to stakeholders; forming the project team; a typical team model; roles of team members; and creating performance incentives.
  6. Supplier management methods to include spend analysis, supplier identification, evaluation, and selection, metrics for supplier selection and management, supplier quality assurance, supplier solicitation methods (EOI, RFI, RFQ, RFP, 2-Step Bidding), performance management, compliance management, continuous improvement, outsourcing overview, and domestic vs. offshore requirements.
  7. Cost management tools and techniques, including total cost of ownership, cost-drivers, price analysis, cost analysis, and price management techniques.
  8. Contract management including: what is "contract management?”, objectives of contract management, important legal aspects of supply management, Article 2 of the Uniform Commercial Code, key legal considerations, and the convention for the International Sale of Goods.
  9. Ethical considerations in supply management to include and exploration of ethics – what is ethical, what is ethical behavior, gifts and gratuities, and ISM principles and standards.
  10. Key elements of negotiation to include: negotiation defined, negotiation styles, the negotiation process, preparation, people factors, reaching a mutually satisfactory agreement, closure, and post negotiation.

Who Should Attend:

Supply management professionals who have taken the Fundamentals of Purchasing course and are seeking the next step in their continuing education for knowledge and advancement.

Terms And Conditions

Virtual Learning Transferals: Registrations are transferable without any charge to another ISM Virtual Learning Course occurring within 12 months of the original purchase. Transferring registrations to another party are subject to price variance or change based on membership status and an additional $50 fee will be incurred.

Cancellations Virtual Learning: Cancellations more than 5 weeks before the date of the course will incur an administrative charge of 50 percent. Cancellation within 5 weeks of the date of the event will be charged the full fee. You must notify ISM in writing of a cancellation.

Tax Deduction: The Internal Revenue Service may permit an income tax deduction to U.S. residents for expenses (including registration fees, travel costs, meals and lodging) incurred in pursuit of continuing professional education. Consult your tax adviser for details.

View full terms of service here.