On Demand Webinar
Webinar Details $219
- Webinar Length: 100 Minutes
- Guest Speaker: Kevin Giblin
- Topic: Purchasing
- Credit: ATAPU 1.5, CPE 2.0
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Becoming a trusted advisor. Getting an early seat at the table.These are some of the issues that Sourcing teams struggle with all too often. The same teams are continually challenged by their own stakeholders to demonstrate value. Often overlooked in the process are the broader opportunities for ensuring post-contract efficiency (and further value).
This session will explore best practices in cultivating sustainable stakeholder relationships to create a strong foundation for Strategic Sourcing, and development of a collaborative process to add value throughout the relationship.
Your Benefits of Attending:
- Understand which metrics matter and why.
- Want to be more efficient? Gain insight into "tips and tricks" that optimize resources and minimize effort.
- Most importantly... make it resonate! You will hear case studies on measures of success.
- Introduction
- Today’s Learning Objectives 00:03:30
- Perception vs. Reality vs. Opportunity 00:06:29
- Shifting Focus on Value 00:08:57
- Value Evolution Strategy 00:10:12
- Developing and Promoting Sourcing’s Strategic Value - Tools, Techniques, Considerations 00:19:58
- The Essential Steps to Ensure Sustainable Sourcing Value 00:20:18
- Enabling Success With 360 Views 00:24:47
- Developing and Promoting Sourcing’s Strategic Value - Measures of Success 00:32:01
- Commonly Used Metrics 00:33:30
- Metrics That Matter 00:00:36:41
- Opportunities for Value Creation 00:46:44
- Developing and Promoting Sourcing’s Strategic Value - Practical Examples 00:54:08
- Add Value With Insight 00:55:52
- Add Value With Opportunity Analysis 01:02:16
- Developing and Promoting Sourcing’s Strategic Value - Case Study – 01:10:39
- Establishing a Baseline – Identifying the Opportunity 01:12:57
- Problem Statement 01:16:40
- Creating Better Supplier Engagement Using Agile Methodology 01:18:02
- Establishing Sprint Goals 01:19:04
- Internal Service Levels vs. Benchmark Findings 01:20:34
- Internal Customer Experience: Third Party Onboarding 01:22:42
- Assessing the Findings 01:23:36
- Showing Improvement – Metrics That Matter 01:24:31
- Developing and Promoting Sourcing’s Strategic Value - Benefits and Takeaways 01:27:47
- Procurement’s Trendline 01:28:12
- Enabling Success 01:32:56
- Key Takeaways 01:36:44
- Presentation Closing 01:39:00
- Agile Methodology 01:18:02
- Baseline 01:24:50
- Compound Annual Growth Rate (CAGR) 00:55:52
- Contract 01:01:23, 01:03:13, 00:26:41, 00:30:56
- Cost 00:09:29, 00:16:37
- Procurement 00:06:50, 00:09:11, 00:12:31, 00:34:06, 01:24:29
- RACI Chart 01:16:40
- Request For Information (RFI) 00:11:05
- Request for Proposal (RFP) 00:10:54, 00:25:46, 00:29:12
- Request For Quotation (RFQ) 00:11:04
- Return on investment (ROI) 00:33:54
- Risk Mitigation 00:13:13
- Root Cause Analysis (RCA) 01:19:17
- Sourcing Value 00:10:08
- Spend Analysis 00:21:01
- Stakeholders 00:12:46, 00:27:21m
- Strategic Sourcing 00:56:21
- Supplier 00:12:47, 00:13:19, 00:18:19, 00:21:54, 00:24:58, 00:32:25, 00:55:22
- Supply Chain 00:31:00
- Value Chain 00:13:15
Agile procurement : An iterative approach to business processes, focusing on continuous improvement and delivering fast results for stakeholders.
Baseline: A critical tool for tracking and managing the cost of materials and services throughout a project. By comparing current costs to past costs, organizations can ensure that their resources are being used efficiently and effectively.
Compound Annual Growth Rate (CAGR) : The compound annual growth rate is the rate of return that would be required for an investment to grow from its beginning balance to its ending balance, assuming the profits were reinvested at the end of each period of the investment’s life span.
Contract: A written or spoken agreement, especially one concerning employment, sales, or tenancy, that is intended to be enforceable by law.
Cost: The sum of the applicable expenditures and charges directly or indirectly incurred in bringing an article to its existing condition and location
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.
RACI Chart: A RACI chart (sometimes called a Responsibility Assignment Matrix) is a way to identify your project teams' roles and responsibilities for any task, milestone, or project deliverable. By following the RACI acronym, you can clarify responsibility and reduce confusion.
Request For Information (RFI): A request for information is a common business process whose purpose is to collect written information about the capabilities of various suppliers. Normally it follows a format that can be used for comparative purposes. An RFI is primarily used to gather information to help make a decision on what steps to take next.
Request For Quotation (RFQ): A process in which a company solicits select suppliers and contractors to submit price quotes and bids for the chance to fulfill certain tasks or projects.
Request for Proposal (RFP): A request for proposal (RFP) is a document that solicits proposal, often made through a bidding process, by an agency or company interested in procurement of a commodity, service, or valuable asset, to potential suppliers to submit business proposals.
Return on investment (ROI): A measure used to evaluate the financial performance relative to the amount of money that was invested. The ROI is calculated by dividing the net profit by the cost of the investment. The result is often expressed as a percentage. See an example here.
Risk Mitigation: Risk mitigation involves taking action to reduce an organization's exposure to potential risks and reduce the likelihood that those risks will happen again.
Root Cause Analysis (RCA) : Root cause analysis (RCA) is the process of discovering the root causes of problems in order to identify appropriate solutions. RCA assumes that it is much more effective to systematically prevent and solve for underlying issues rather than just treating ad hoc symptoms and putting out fires.
Sourcing Value: Sourcing Value is an enterprise decision-making platform of Applied Value Group allowing businesses to automate sourcing needs to save time and money. Sourcing takes care of everything from finding suppliers, vetting & contracting them, and maintaining a healthy chain of vendors to cater to the organizational needs.
Spend Analysis: A spend analysis is the process of cataloging business spend data and reviewing it in order to identify inefficiencies, root out unnecessary costs, remove waste and redundancies, and find gaps within the supply chain to make changes that will ultimately reduce costs.
Stakeholders: A stakeholder is a party that has an interest in a company and can either affect or be affected by the business. The primary stakeholders in a typical corporation are its investors, employees, customers and suppliers.
Strategic Sourcing: Strategic sourcing is an approach to supply chain management that formalizes the way information is gathered and used so an organization can use its consolidated purchasing power to find the best possible values in the marketplace and align its purchasing strategy to business goals.
Supplier: A supplier is an entity that supplies goods and services to another organization. A supplier is usually a manufacturer or a distributor. A distributor buys goods from multiple manufacturers and sells them to its customers. Similar Terms. A supplier is also known as a vendor.
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.
Value Chain: A value chain is a set of activities that a firm operating in a specific industry performs in order to deliver a valuable product for the market.
