Course Overview: Strategic sourcing focuses on optimizing an organization’s procurement processes to improve cost-efficiency, supplier relationships, and overall supply chain performance. It combines data analysis, market research, and supplier management to align purchasing strategies with organizational goals.
Key Topics Covered:
1. Introduction to Strategic Sourcing:
Definition and importance of strategic sourcing.
Difference between tactical and strategic procurement
Role in supply chain management.
2. Procurement and Spend Analysis:
Categorizing and analyzing spending patterns.
Identifying cost-saving opportunities.
Tools and techniques for effective spend analysis.
3. Supplier Selection and Management:
Criteria for supplier evaluation and selection.
Developing and maintaining supplier relationships.
Risk management in supplier selection.
4. Market Research and Competitive Analysis:
Conducting market assessments.
Understanding industry trends and dynamics.
Benchmarking against competitors.
5. Strategic Sourcing Process:
Steps in the strategic sourcing lifecycle.
Request for Proposal (RFP) and Request for Quotation (RFQ) processes.
Contract negotiation and management.
6. Cost and Value Analysis:
Total Cost of Ownership (TCO).
Value creation through strategic sourcing
Balancing cost reduction with quality and innovation.
7. Sustainability and Ethical Sourcing:
Incorporating sustainability into procurement.
Ethical considerations in sourcing decisions
Corporate social responsibility (CSR) in the supply chain.
8. Technology in Strategic Sourcing:
Role of digital tools and platforms (e.g., e-sourcing)
Automation and data analytics in procurement
Emerging technologies (AI, blockchain) in strategic sourcing.
9. Case Studies and Practical Applications:
Real-world examples of successful sourcing strategies.
Group projects to develop and present sourcing plans.
Problem-solving exercises in supplier management.
Learning Outcomes: By the end of the course, participants will:
Understand the strategic importance of sourcing in supply chain management.
Be able to conduct comprehensive spend analyses and supplier evaluations.
Develop sourcing strategies that align with organizational objectives.
Utilize technology and data-driven approaches to improve procurement processes.
Apply ethical and sustainable practices in sourcing decisions.
This course is essential for professionals looking to enhance their procurement and supply chain skills, drive organizational value, and adapt to evolving market dynamics.
- Teacher: ALFRED NGENO