Effective Strategies: Building Purchasing Value for Your Organization
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Understand the influences that impact your organization's bottom-line and learn to evaluate various cost drivers. Discover how to become a strategic player and measure and report results. Leverage agreements and familiarize yourself with the tools you need to establish supplier performance and measurement criteria. Make continuous improvement a reality.
Who Should Attend
Professionals seeking to learn the how-to’s for leveraging the value-add contributions of purchasing and supply management. Experienced supply management professionals affecting change in the organization. Those who have been challenged with building value into the supply organization.
You Will Learn...
- How to develop strategies and targets
- How to build a strategic purchasing and supply management plan that adds value to the organization
- 11 critical considerations when developing supply strategy
- Four phases of an internal communications plan
- Ways to establish and measure supplier performance
- Techniques for measuring total cost reduction results, with specific ideas for supply cost reduction, supplier alliances and process improvements
- How to shape your purchasing and supply organization for leadership
- How to manage change and sell your plans throughout your organization
You Will Earn...
21 continuing education hours
- Understanding the influences that continue to reshape the purchasing function; Matching the strategic supply management plan to that of the organization; Devising a long-term vision; Setting the target of a long-term strategy; Developing a strategic plan to reach the target
- Factors and conditions that influence and facilitate purchasing value contribution to an organization; Markets and competitive position; Access to essential resources; Support at senior levels in the organization; Employee skill levels; Measuring buyer performance in terms of value-adding activity that produces a measurable contribution to the organization's competitive position
- Measuring total cost reduction results; Tools for adding value; Understanding cost drivers and opportunity areas to leverage agreements; Benefits of supplier alliances; A pricing model for leveraging volume; Standardization and process improvements to impact pricing and supplier support positively; Supplier base reduction strategies; A focus on continuous improvement; Continuous improvement tools that work
- Purchasing's opportunities for quality leadership; Cultivation of entrepreneurship, flexibility and creativity; Identifying and filling skill gaps; Building effective feedback loops; The importance of teaming; Communication to external and internal stakeholders; How to market the strategic purchasing and supply management plan and get the support needed for implementation
- Reactive versus proactive purchasing management; How to measure contribution from service functions; Establishing supplier performance objectives and measurement criteria; Tools and techniques to monitor supplier quality and performance
- How to manage change and resistance to change; Effective project management skills for setting milestones, changing directions, changing impetus and changing scope; Performance feedback; Effective reporting and communication up the ladder; How to communicate success; The importance of champions and support coalitions and how to build them
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