Overview

Procurement or Sourcing costs typically account for a major chunk of total planned or budgeted costs for many firms. Yet firms are unable to leverage the true value from sourcing activity. Oftentimes, sourcing decisions are related to procuring various products, services, sub-assemblies, and at times capital equipment as well. Many firms have been transforming their traditional purchasing activity into the sourcing activity realizing strategic role of sourcing. It is important for the executives to know how to add value to their organization by implementing best sourcing practices.

Objectives

This programme introduces the participants to the strategic sourcing, spend analytics, sourcing process, digital or e-procurement, source-to-pay cycle, sourcing strategies, vendor development, risk management, negotiation, and best practices to realize the competitive benefits from sourcing within an organization and across it’s the supply chain. It will also showcase recent trends in sourcing, application of new technology such as AI/ML IoT, Blockchain in sourcing.

Content

The programme shall cover the broader topics related to sourcing. An indicative but not exhaustive list is given below.

• Digital / e-Procurement
• Strategic role of procurement in a firm
• Category Management: Leveraging Value from Spend Categories
• Spend Analytics
• Selection of Suppliers / Vendors
• Negotiation for Sourcing
• Onboarding a Supplier
• Measuring Supplier Performance
• Buyer – Supplier Relationships
• Supply Contracts
• Managing world class supply base: Inventory and logistics Planning
• Sustainability in sourcing
• Recent trends in sourcing: To showcase applications of new technology such as IoT, AI/ML and Blockchain in sourcing

For Whom