Advanced Purchasing Strategies
Please see below for additional instructions and information regarding this program.
The role of Purchasing is changing significantly. Purchasing departments are moving from REACTIVE to PROACTIVE, responding to leadership demands that they add VALUE to the organization, rather than their typical role of price reduction demanders.
In this advanced program you will learn the difference between strategy and tactics and how you should be using each. Understand what proactive procurement looks like and why it can drive a competitive advantage for you. Mike will also cover Value Analysis that you can implement into your purchasing practices.
Your Benefits of Attending:
- Learn how to use measurement as power.
- Gain insight into having your supplier reduce lead teams.
- Understand category management and how to use it to reduce prices.
- Understand why and how to develop trust with suppliers.
- Learn about soft negotiations and why they are so beneficial.
Join Michael Gozzo as he takes your Purchasing strategies to the next level.
- Content 00:01:26
- Section One - Introduction to Program 00:02:53
- Purchasing in Transition 00:02:59
- Purchasing Today and in the Future - Changes in Our Roles 00:03:21
- Purchasing Today and in the Future - Changes in Our Roles (cont’d) 00:04:39
- Strategic Procurement 00:08:51
- Section Two - Direction of Profession - What’s Happening? 00:11:10
- Missed Opportunity in Supply Management 00:11:22
- Su[pply Management Undervalued - Why? 00:13:58
- Evaluating Each Point of Undervaluation 00:14:24
- Evaluating Each Point of Undervaluation (cont’d) 00:18:24
- Gartner’s Top Leaders of Supply Chain 00:20:00
- Four Stages - Supply Management 00:22:07
- Studies for Best Practices 00:27:35
- Best Practices - Findings 00:28:30
- Most Implemented 00:30:02
- Using Strategic Sourcing - Primary Process 00:31:47
- Section Three - Strategic Procurement Management (SPM) 00:32:11
- (SPM) - A Competitive Weapon 00:32:29
- Competitive Edge 00:36:26
- Gaining Velocity - Time 00:39:06
- Sourcing Consideration 00:43:58
- Traditional Impacts 00:47:18
- Optimizing the Cost of Ownership 00:49:53
- Section Four - Proactive Procurement 00:53:07
- Approaches to Achieve Strategic Procurement 00:53:23
- States of Change 00:56:34
- Proactive/Strategic Procurement Challenges 00:59:15
- Section Five - Application of Value Analysis 01:04:06
- Continuous Improvement 01:04:28
- Process Improvement Model 01:07:03
- Application of Value Analysis 01:09:44
- What is Value Analysis? 01:10:42
- Opportunities (Waste) 01:12:19
- Ten Phases of Value Analysis 01:17:18
- Section Six - Supplier Collaboration/Soft Negotiation 01:19:41
- Model of Negotiation Process 01:20:02
- Overview of the Negotiation Process 01:21:41
- Negotiation Tool Summary 01:22:57
- Strategic Sourcing 01:24:44
- Strategic Sourcing/Collaboration 01:25:57
- Creating Successful Strategic Supplier Relationships 01:29:14
- Value Focused Strategic Sourcing 01:31:55
- Recap 01:33:09
- Q & A 01:35:43
- Presentation Closing 01:36:49
- Pareto Analysis 01:05:07
- Procurement 00:01:53, 00:50:04
- Purchase Price Variance (PPV) 00:50:11
- Strategic Procurement 00:08:51
- Supply Chain 00:04:58
- Supply Chain Management 00:11:32
- Total Cost of Ownership (TCO) 00:49:56
- Value Analysis 00:02:21, 01:09:55
Pareto Analysis: Pareto analysis is a formal technique useful where many possible courses of action are competing for attention. In essence, the problem-solver estimates the benefit delivered by each action, then selects a number of the most effective actions that deliver a total benefit reasonably close to the maximal possible one.
Procurement: Procurement is the process of finding and agreeing to terms, and acquiring goods, services, or works from an external source, often via a tendering or competitive bidding process. Procurement is used to ensure the buyer receives goods, services, or works at the best possible price when aspects such as quality, quantity, time, and location are compared.
Purchase Price Variance (PPV) : Purchase Price Variance represents the difference between the actual price and the standard price, multiplied by the quantity purchased. The formula is: Purchase Price Variance = (Actual Price – Standard Price) x Actual Quantity.
Strategic Procurement: Strategic procurement, also known as strategic sourcing, refers to the long-range plan to ensure a timely supply of goods and services that are critical to an organization's ability to meet its core objectives. For a truly strategic procurement process, the entire organization must be involved.
Supply Chain: A supply chain is a network between a company and its suppliers to produce and distribute a specific product to the final buyer. The supply chain also represents the steps it takes to get the product or service from its original state to the customer.
Supply Chain Management: In commerce, supply chain management, the management of the flow of goods and services, involves the movement and storage of raw materials, of work-in-process inventory, and of finished goods as well as end to end order fulfillment from point of origin to point of consumption.
Total Cost of Ownership (TCO) : Total cost of ownership is a financial estimate intended to help buyers and owners determine the direct and indirect costs of a product or system. It is a management accounting concept that can be used in full cost accounting or even ecological economics where it includes social costs
Value Analysis: The systematic and critical assessment by an organization of every feature of a product to ensure that its cost is no greater than is necessary to carry out its functions.
Michael W. Gozzo provides consulting and training services to all levels of management and is a Supply Chain Specialist including Purchasing (Supplier Collaboration), Inventory Control and Production/Operations Management. With many years of practical international experience, he offers a superlative background via his line, staff, training, and consulting activities. Education:MBA from University of New HavenB.S. Finance from University of ConnecticutExperience Lean MasterSan Jose St... View Full Profile
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You must answer all questions during the webinar, view the recording completely and pass the test at the end with 70% correct answers to receive CPE credit.
This program may be used for Continuing Education Hours (CEH) toward recertification for programs offered by the Institute for Supply Management®, including the Certified Professional in Supply Management® and Certified Professional in Supplier Diversity®.