BEGIN:VCALENDAR VERSION:2.0 PRODID:-//wp-events-plugin.com//7.3.2//EN BEGIN:VEVENT UID:1831@x8ti.com DTSTART;TZID=Asia/Kuala_Lumpur:20261005T090000 DTEND;TZID=Asia/Kuala_Lumpur:20261009T130000 DTSTAMP:20260227T113609Z URL:https://x8ti.com/event/strategic-sourcing-training-course-4/ SUMMARY:Strategic Sourcing Training Course DESCRIPTION:Course Overview\nWhat is Strategic Sourcing?  Strategic sourci ng is the process of developing and increasing channels of supply at the l owest total cost\, not just the lowermost purchase price.\n\nIt advances a nd develops upon conventional buying activities to embrace and include eve ry event within the procurement cycle\, from specification to receipt and payment of goods and services.\n\nPurchasing and supply management decisio ns are crucial because they impact directly on the competitive position an d operational efficiency of organizations.\n\nThe word “Sourcing” is a substitute and alternate word for procurement. It is financially material \, however strategically peripheral\, corporate function. Now\, globalizat ion\, aided by rapid technology innovation\, is shifting the basis of comp etition.\n\nPurchasing is perceived to change its focus from daily procure ment activities to long term\, value-adding strategic tasks\, which can he lp companies attain success in the marketplace.\n\nStrategic sourcing is a methodology and approach in supply chain management that enacts the techn ique in which the information is collected and used so that an organizatio n can leverage its consolidated purchasing power to find the best values.\ n\nThis advanced certification course will focus on the supply network\, v alue creation\, risk\, and uncertainty in the supply chain and the overall responsiveness and resilience of the supply chain.\nCourse Objectives\n\n Show the importance of purchasing for an organization and a supply chain \n The purchasing process\, purchasing policy and procedures\n Formulate effective and successful strategies for supply management and supplier ev aluation\n Examine and assess the approaches to supplier management and w orldwide sourcing\n Analyse supplier costs and purchasing processes by me ans of suitable techniques\n Plan and strategize effectively for supply m anagement negotiation and contracting\n Appraise and consider the legal a nd ethical issues in purchasing\n Propose and recommend a framework for m easuring and evaluating purchasing performance\n Relate with the strategi es and techniques in purchasing and supply management to the work environm ent\n Develop the necessary knowledge and interpersonal skills to work ef fectively in a team\n Demonstrate written proficiency on specification\, performance and contractual areas\n\nTraining Methodology\nStrategic Sourc ing Certification is an interactive training program and will consist of t he following training approaches:\n\n Lectures\n Seminars &\; Present ations\n Group Discussions\n Assignments\n Case Studies &\; Function al Exercises\n\nOrganizational Benefits\nCompanies who send in their emplo yees to participate in the Strategic Sourcing Certification Course can ben efit in the following ways:\n\n Get an understanding of the purchasing op erations and structure\, so that they gain an appreciation of the role pur chasing plays in the supply chain\n Serves as a roadmap to procure and ac quire the goods and services the organization knows it needs ahead of time \n\nPersonal Benefits\nProfessionals who participate in this Strategic Sou rcing Certification Course can benefit in the following ways:\n\n Procure ment professionals will receive time to find the best price\, instead of w aiting until there is an immediate need\n Identify and recognize opportun ity areas in the supply chain process that will assist in improving servic e levels and cost risk reduction\n Enhanced credibility\, capability and confidence in supply chain expertise\n\nWho Should Attend?\nThis course wo uld be suitable for:\n\n Procurement Professionals\n All professionals\, including managers and supervisors\, who are in various stages of the sup ply chain in an organization\n Senior members of an organization responsi ble for critical and analytical decision making\n Professionals involved and responsible for rolling out and scrutinizing tenders received from pro spective suppliers\n Any other professional interested in knowing more ab out strategic sourcing\n\nCourse Outline\nEffective Category Management\nC ategory Management is a strategic approach to maximize value\, benefit and profit to the organization through structured procurement processes and i t requires organization-wide involvement to succeed.\n\nThis module shares the tools involved in making category management success in organizations and the implementation steps to it. When implemented and executed effecti vely\, this approach can build significant competitive advantage\, deliver dramatic cost reduction and the value and innovation required for busines s success.\n\n Comprehend what is category management and the strategic f unction it plays to deliver better outcomes\n Defining strategic sourcing and category management\n The stages of a conventional sourcing process\ n Transactional and strategic sourcing activities\n Differentiating acco unt management and category management\n Understand the key principles of category management\n How to utilize various tools to develop the catego ry strategy for their organizations\n Implement the 5 stages of category management\n\nDigital Procurement- Past\, Present and Future\n\n Gain an overview of the impact of digitalization on procurement over the years\, t he benefits and pitfalls\n Know and understand the things\, e.g.\, techno logies\, systems\, structural change\, etc. needed to support their organi zation’s digital procurement strategy\n Understand the steps to be take n to implement the digital procurement plan in order to realize the full p otential of the digital revolution\n\nSourcing and Risk Management\n\n Me aning and definition of risks\, hazards\, exposure and risk appetite\n Po sitive and negative consequences of risk\n Direct and indirect losses\n Internal and external sources of risk\n Classifications of risk: financia l\, strategic\, operational and hazard\n Risks from the broader environme nt: STEEPLED – social\, technological (failure including cyber risks and crime)\, economic\, environmental\, political\, legislative\, ethical (la bour standards and sourcing aspects) and demographic\n The nature of frau d in organization’s and supply chains\, why fraud takes place and differ ent types of fraud\n\nData Analytics and Finance for Procurement \n\n In crease and Gain an appreciation of finance and its impact on procurement\n Study about financial ratios and interpret financial documents\n Link f inancial information to procurement tasks\n Use data analytics to forecas t demand planning\n Analyze and explore data impact to warehouse manageme nt and other functions\n\nSupplier Relationship Management \nDistinguish between different types of commercial relationships in supply chains.\n\n Internal and external relationships\n The relationship spectrum\n The r elationship life cycle\n\n Review portfolio analysis techniques to gauge relationships in supply chains\n\n Matrices to find and identify supply\, supplier and purchaser positioning\n Developing action plans\n\nRecogniz e the competitive forces that impact on relationships in supply chains\n\n Sources of competitive advantage\n Competitive forces: sources and base s of competitive rivalry\, bargaining power of buyers and suppliers\, the threat of new entrants and potential substitutes\n STEEPLE factors that i nfluence and impact on supply chains (social\, technological\, economic\, environmental\, political\, legislative and ethical)\n\n Compare and Matc h the sources of added value that can be achieved through\n       su pply chain relationships\n\n The connection between relationships as a pr ocess and the achievement of added value outcomes\n Sources of added valu e: pricing and cost management\, refining quality\, timescales\, quantitie s and place considerations in procurements from external suppliers\n The link between an organization’s in supply networks\n\nProcurement Fraud\, Ethics and Sustainability \n\n Know the principles of public procuremen t and the key role they place in conducting a fair and ethical procurement process\n Acknowledge the vital role of each stakeholder in reducing opp ortunities for corrupt practices and conflicts of interest\n Understand w here in the procurement process corruption risks and ethical dilemmas can happen and recognize how to anticipate and avoid them\n Endorse common va lues and define the behavior and performance expected of procurement profe ssionals\n Understand sustainable procurement and its benefits\n\n \; ATTACH;FMTTYPE=image/jpeg:https://x8ti.com/wp-content/uploads/2025/01/Scre en-Shot-2025-01-22-at-1.30.25-PM.png CATEGORIES:Procurement, Logistics and Supply Chain Management LOCATION:Kuala Lumpur Training Courses\, Banyan Tree Kuala Lumpur\, Kuala L umpur\, Malaysia\, Malaysia X-APPLE-STRUCTURED-LOCATION;VALUE=URI;X-ADDRESS=Banyan Tree Kuala Lumpur\, Kuala Lumpur\, Malaysia\, Malaysia;X-APPLE-RADIUS=100;X-TITLE=Kuala Lumpur Training Courses:geo:0,0 END:VEVENT BEGIN:VTIMEZONE TZID:Asia/Kuala_Lumpur X-LIC-LOCATION:Asia/Kuala_Lumpur BEGIN:STANDARD DTSTART:20251005T090000 TZOFFSETFROM:+0800 TZOFFSETTO:+0800 TZNAME:+08 END:STANDARD END:VTIMEZONE END:VCALENDAR