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NEW!!! Fundamentals of Strategic Sourcing

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Seminar #4331
August 11 - 12, 2014
Nashville, TN

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This seminar is an excellent follow up to the Fundamentals of Purchasing course as it's a next step in knowledge needed to succeed today. Hands on exercises are embedded throughout using quadrant analysis, supplier evaluation, and developing content of a service-related RFP.

Bio for Wade Ferguson

Who Should Attend

This seminar is intended for all levels of supply management professionals, and others who wish to become robust in strategic sourcing techniques.

You Will Learn...
  • The importance of teamwork in strategic sourcing
  • How strategic sourcing contributes to organizational success
  • The importance of supply management strategy
  • The strategic sourcing process
  • Supplier management methods
  • Cost management tools and techniques
  • Contract management
  • Ethical considerations in supply management
  • Key elements of successful negotiations

You Will Earn...

14 continuing education hours

Course Outline
  1. The importance of teamwork in supply management
  2. Supply management's contribution to organizational success: supply management's role in organizational success; the typical evolution of purchasing to supply management; supply management's strategic roles
  3. Supply management strategy: reasons for strategy development; techniques for developing supply strategy — strategy development using the "Should Be" strategy development model, spend category — specific strategy development (SWOT Analysis, Quadrant Analysis)
  4. The Strategic sourcing process:

    1. First, identify and define the project
    2. Justifying the project internally and selling it to stakeholders
    3. Forming the project team
      1. A typical team model
      2. Roles of team members
      3. Creating performance incentives
  5. Supplier management methods: spend analysis, supplier identification, evaluation, and selection, Metrics for supplier selection and management, supplier quality assurance, supplier solicitation methods (EOI, RFI, RFQ, RFP, 2-Step Bidding), performance management, compliance management, continuous improvement, outsourcing overview, domestic vs. offshore requirements
  6. Cost management tools and techniques: total cost of ownership, cost-drivers, price analysis, cost analysis, price management techniques
  7. Contract management: What is "contract management"?, objectives of contract management, important legal aspects of supply management, Article 2 of the Uniform Commercial Code, key legal considerations, The convention for the International Sale of Goods
  8. Ethical considerations in supply management: What is ethics? What is ethical behavior? Gifts and gratuities, ISM Principles and Standards
  9. Key elements of negotiation: negotiation defined, negotiation styles, The negotiation process, preparation, people factors, reaching a mutually satisfactory agreement, closure, post negotiation

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Hotel Information

Courtyard Nashville Downtown
170 4th Avenue North.
Nashville, TN 37219

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In order to ensure maximum participation interaction and learning, enrollment is limited.

Seminar Hours:
2-Day Seminars
First Day: 8:30 a.m. - 4:30 p.m.
Second Day: 8:30 a.m. - 4:00 p.m.

3-Day Seminars
First Day: 8:30 a.m. - 4:30 p.m.
Second Day: 8:30 a.m. - 4:30 p.m.
Third Day: 8:30 a.m. - 4:00 p.m.

One-Day Seminars:       8:30 a.m. - 4:30 p.m.

Half-Day Seminars (On-Point):     1:00 - 4:30 p.m.

Please be sure to read all Seminar Registration Information prior to registering for a course.

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Seminar #4331 Regular Price Member Price
Cost: $1,699.00 $1,399.00
Total: $1,699.00 $1,399.00
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