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Pro-D Supply Management (Procurement) Track
Module 6
Implementing Strategic Sourcing (SS) 

Module Summary

Master the art of Strategic Sourcing.

 

In response to today's business challenges, learn to shift from tactical to strategic procurement, emphasizing the lowest total cost rather than just price.

Key Course Highlights:

  • Tailored Strategic Procurement Strategies: Develop operational, financial, and marketing strategies aligned with stakeholder needs for resilient supply chains, accurate budgets, and on-time deliveries.

  • Supply Strategy and Regression Analysis: Explore supply strategy development considering procurement value and market conditions. Apply Regression Analysis tools for effective forecasting and price modeling.

  • Technology-Driven Approaches: Embrace cutting-edge technology tools such as Spend Analysis, Reverse Auctions, and Performance Measurement to enhance procurement efficiency.

  • 7-Step Implementation Process: Gain practical insights into implementing Strategic Sourcing through a systematic 7-step process

To round out this course, you will have the opportunity to complete a 50-question quiz to test your knowledge and apply what you learned. Successfully pass this module and the other 5 modules to earn your Certificate of Achievement from Missouri State University.

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Benefits of Attending

Upon completion of the Implementing Strategic Sourcing course, the participant will:

  • develop and implement the five (5) key strategies of Operational (continuity of supply), Financial (accurate budgeting), Marketing (correctly supplied goods and services to meet customer demand), Supply (commodity direction) and Technology (to drive optimization)

  • roll out the Supply strategy by developing the Risk (sole, limited or perfect competition) vs. Profit (A, B or C procurement) matrix

  • incorporate Econometric Models to determine the correlation between pricing (dependent variable) and cost (drivers)

  • implement change management including an understanding of and solution to barriers for positive change in Strategic Sourcing

  • make use of technology tools including Spend Analysis, Reverse Auctions and Performance Measurements as either module(s) of the current ERP system or as an add-on package

  • form key stakeholders groups for buy-in including identification, importance, relationships and involvement

  • achieve stakeholder alignment for buy-in including outcome(s), development/implantation of strategies (listed above) and results-tracking

  • facilitate a “steering-committee” for both decision-making and carrying out action items

  • effect spend/supplier leverage through process improvements, innovation and prioritization of projects

  • participate in make-vs-buy decisions, primarily the outside supply justification for an outsourcing or offshoring move

  • segregate supply chain focus in Strategic Sourcing per the target market, product features, customer service and/or customer selection

  • develop an effective roll-out plan for Strategic Sourcing

Self-Paced Learning

You will be provided with access to the BMTG e-Learning Academy which will guide you through Module 1: Fundamentals of Supplier Relationship Management.

To ensure a smooth learning experience, each  Module is presented as a comprehensive "Course Book" within the user-friendly BMTG e-Learning Academy.

 

The Course Book is divided into four chapters, providing you with in-depth study materials and practical insights.

 

Here's what you can expect in each Course Book:

  • Chapter 1: Learning Objectives: Three downloadable PDFs serves as your study materials offering detailed information on the course topic comprising of a set of learning objectives that you can refer to it at your own pace, allowing you to absorb the content effectively.

  • Chapter 2: PowerPoint Slide Deck with Audio: As an additional learning resource, the PowerPoint Slide Deck is accompanied by audio narration to guide you through the study materials. This audio-led approach ensures a dynamic learning experience.

  • Chapter 3: Review Points: A summary PDF of the key learning outcomes to be studied prior to attempting your online assessment.

  • Chapter 4: 50 Question Multiple Choice Assessment: To assess your understanding of the course content, each Course Book includes a 50-question multiple choice assessment. The passing score for the assessment is 65%, thereby ensuring you have grasped the core concepts effectively. You will be able to take and retake the assessment until you pass.

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How to Apply

Enroll in the Pro-D Supply Management (Procurement) Track directly on the BMTG e-learning Academy for only US$399 + VAT and gain automatic access to the course. Start enhancing your procurement skills today!

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