Commodity Teams: Leveraging Value Across the Entire Organization
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This advanced seminar covers how to organize and use commodity teams with a value focus. Learn effective team-building, participation skills and ways to measure and report value delivered.
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Who Should Attend
Supply management professionals and others involved in a commodity team. This program is valuable to those who are or may become members of a commodity team initiative in their organization.
You Will Learn...
- How to form an effective commodity team for the purchase of goods and/or services
- Six key characteristics of an effective team
- How to develop commodity-specific strategy
- Four stages of team development
- How successful commodity teams function
- How to measure team success
- Four key questions that test the effectiveness of teams
- Seven key strategies for effective team leadership
- Three ways to unlock a team’s potential
- How to effectively communicate value delivered
You Will Earn...
14 continuing education hours
- Forming commodity teams: The commodity team concept; A model for strategic sourcing through commodity teams; Characteristics of successful commodity teams; A typical commodity team support structure; Ensuring a supportive environment; Getting senior management support
- Commodity team functions: Defining the sourceable spend; Identifying commodity groups; Prioritizing commodity groups in terms of potential value; A commodity strategy matrix; Determining when a commodity team is applicable; Identifying required resources
- Implementing commodity teams: The team sponsors; The team charter; Determining the number of team members; Who selects team members?; Team member selection criteria; Establishing roles and accountability; Initiating team activity; Defining an appropriate level of team autonomy; Matching the team's pace to available resources; Defining commodity-specific strategies; Selecting potential suppliers; Requests for information; Requests for proposal; Receiving, comparing and evaluating proposals; The proposal selection process; Key issues in structuring final agreements with suppliers
- How to lead and participate in teams effectively: Team dynamics; How to form a cross-functional team; How to develop and maintain team effectiveness; How to facilitate the team's success; Important skills for team members; Team leadership and facilitation; Common team-related problems and pitfalls and how to avoid them; Getting management buy-in and support for team decisions; When and how to disband a team
- How to measure and report value delivered: Cost savings, cost avoidance and process improvements; Hard-dollar impact versus soft-dollar impact; Defining customer satisfaction levels; Understanding the need to communicate before reporting; Reporting in the language of management; The ultimate objective: competitive advantage and how to address it; Cases: how to measure and report value
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