BSC-115 Effective Sourcing and Procurement
Effective Sourcing and Procurement play a vital role in ensuring an organization’s operational efficiency and competitiveness. By strategically managing how goods and services are acquired, businesses can optimize costs, improve quality, and strengthen relationships with reliable suppliers. The focus is not only on getting the lowest price but also on achieving the best value through balanced considerations of cost, quality, delivery, and sustainability.
A well-structured sourcing and procurement process involves thorough market analysis, supplier evaluation, and contract management. It requires aligning purchasing strategies with organizational goals and ensuring transparency and compliance throughout the procurement cycle. Effective sourcing enables organizations to identify the right suppliers, negotiate favorable terms, and maintain a resilient supply chain capable of adapting to market changes.
Furthermore, adopting digital tools and data-driven approaches enhances decision-making and efficiency in procurement operations. Technologies such as e-sourcing platforms, spend analytics, and supplier performance dashboards provide greater visibility and control. When sourcing and procurement are managed effectively, organizations can reduce risks, enhance supplier collaboration, and achieve long-term operational excellence.
A well-structured sourcing and procurement process involves thorough market analysis, supplier evaluation, and contract management. It requires aligning purchasing strategies with organizational goals and ensuring transparency and compliance throughout the procurement cycle. Effective sourcing enables organizations to identify the right suppliers, negotiate favorable terms, and maintain a resilient supply chain capable of adapting to market changes.
Furthermore, adopting digital tools and data-driven approaches enhances decision-making and efficiency in procurement operations. Technologies such as e-sourcing platforms, spend analytics, and supplier performance dashboards provide greater visibility and control. When sourcing and procurement are managed effectively, organizations can reduce risks, enhance supplier collaboration, and achieve long-term operational excellence.
The two-day intensive course "Effective Sourcing and Procurement" aims to give participants the information and abilities they need to handle sourcing and procurement procedures successfully.
The course covers the main ideas, tactics, and best practices for streamlining sourcing and procurement processes to save costs, strengthen links with suppliers, and increase overall procurement efficiency.
The course covers the main ideas, tactics, and best practices for streamlining sourcing and procurement processes to save costs, strengthen links with suppliers, and increase overall procurement efficiency.
Day 1 Foundations of Sourcing And Procurement
Day 2 Advanced Strategies and Best Practices
- Section 1: Introduction
- Section 2: Introduction to Sourcing and Procurement
- Section 3: Supplier Market Analysis
- Section 4: Supplier Evaluation and Selection
- Section 5: Contracting Fundamentals
- Section 6: Strategic Sourcing Principles
Day 2 Advanced Strategies and Best Practices
- Section 7: Negotiation Skills for Procurement
- Section 8: Supplier Relationship Management
- Section 9: Risk Management in Procurement
- Section 10: Legal and Ethical Considerations
- Section 11: Addressing Challenges in Sourcing and Procurement
- Section 12: Technology in Sourcing and Procurement
- Procurement Managers
- Sourcing Specialists
- Supply Chain Professionals
- Contract Managers
- Operations Managers
- Anyone involved in the sourcing and procurement process.
This is a 2-days programme.
This course runs from 9:00am – 5:00pm with an hour for lunch and periodic short breaks.
This is an intensive session designed to include as much discussion as possible. Lunch and breaks provide an opportunity for further questioning and discussion with the instructors.
This course runs from 9:00am – 5:00pm with an hour for lunch and periodic short breaks.
This is an intensive session designed to include as much discussion as possible. Lunch and breaks provide an opportunity for further questioning and discussion with the instructors.
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