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Strategic Sourcing



This training program delves into the intricacies of strategic sourcing, offering participants a comprehensive understanding of its principles and methodologies. It empowers them to become strategic sourcing experts capable of driving cost savings and enhancing supplier relationships.

Program Objectives:

At the end of this program, participants will be able to:

  • Understand the fundamentals of strategic sourcing and its importance in procurement.

  • Identify sourcing opportunities and assess supplier capabilities effectively.

  • Develop strategic sourcing plans aligned with organizational objectives.

  • Implement negotiation techniques to achieve favorable terms and conditions.

  • Evaluate supplier performance and manage supplier relationships for long-term success.

Targeted Audience:

  • Procurement professionals.

  • Sourcing managers and specialists.

  • Supply chain analysts.

  • Contract managers.

  • Anyone involved in strategic procurement functions.

Program Outlines:

Unit 1:

Fundamentals of Strategic Sourcing:

  • Introduction to strategic sourcing and its significance in procurement.

  • Key principles and objectives of strategic sourcing.

  • Strategic sourcing process: analysis, strategy development, execution, and evaluation.

  • Role of strategic sourcing in achieving cost savings, quality improvements, and risk mitigation.

  • Case studies illustrating successful strategic sourcing initiatives.

Unit 2:

Sourcing Opportunity Assessment:

  • Identifying sourcing opportunities through spend analysis and market research.

  • Assessing supplier capabilities, capacity, and performance.

  • Conducting supplier segmentation to prioritize sourcing efforts.

  • Analyzing Total Cost of Ownership (TCO) to evaluate sourcing alternatives.

  • Examples to identify and prioritize strategic sourcing opportunities.

Unit 3:

Strategic Sourcing Planning and Strategy Development:

  • Developing strategic sourcing plans aligned with organizational goals and objectives.

  • Defining sourcing strategies based on category analysis and market dynamics.

  • Implementing supplier relationship management strategies to foster collaboration and innovation.

  • Establishing performance metrics and KPIs to measure sourcing effectiveness.

  • Real-world examples of successful strategic sourcing planning and strategy development.

Unit 4:

Negotiation Techniques and Contract Management:

  • Effective negotiation strategies and tactics for achieving win-win outcomes.

  • Understanding negotiation styles and adapting to different situations.

  • Contract management best practices, including contract drafting and review.

  • Negotiating favorable terms and conditions while maintaining supplier relationships.

Unit 5:

Supplier Performance Management and Relationship Building:

  • Evaluating supplier performance against predefined metrics and benchmarks.

  • Implementing supplier scorecards and performance improvement plans.

  • Strategies for managing supplier relationships and resolving conflicts.

  • Enhancing collaboration and communication with strategic suppliers.

  • Case studies on effective supplier performance management and relationship building.

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