7 Steps to Successful Strategic Sourcing
Webinar Details $219
- Webinar Date: July 11, 2023
- Webinar Time: 2:00pm - 3:40pm EDT live
- Webinar Length: 100 Minutes
- Guest Speaker: Michael W. Gozzo
- Topic: Purchasing
- Credit: ISM 1.5, ATAPU 1.5, CPE 2.0, QPANJ 2.0
The role of Purchasing continues to need tools that will make a difference in achieving business improvements. Increasing competitive posture is a necessity to survive.
This program provides a practical tool that will enable an enterprise to achieve significant changes in our relationships with suppliers and our customers.
Your Benefits of Attending:
- Learn how to employ category management in reducing prices.
- Understand why and how to develop trust with suppliers.
- Learn how to address change in a positive and beneficial way.
- Gain insight in the "Targeting Model" for pursuing results.
Join Mike Gozzo as he walks you through the 7 steps to strategic sourcing.
- Content 00:01:47
- Presentation Objective 00:02:26
- Section One - Introduction 00:03:55
- What Is Strategic Sourcing? 00:04:04
- Section Two - Developing Strategies - Step 1 00:05:16
- Four Stages - Supply Management 00:05:25
- Strategic Sourcing Challenges 00:07:42
- Critical Areas 00:10:10
- Creating Time to be Strategic 00:12:12
- Selecting Commodities 00:14:06
- Spend Analysis Framework 00:14:49
- Categorizing Best Opportunities for Strategic Sourcing 00:18:05
- Supply Risk and Profit Impact Model 00:21:11
- Section Three - Step - 2 - Developing and Managing Suppliers 00:26:09
- Evaluating Supplier Performance & Capabilities 00:26:21
- Prime Performance Data 00:29:16
- The Role of Supplier Self-Evaluation 00:31:08
- Qualifying the Supplier 00:33:14
- Supplier Checklist 00:34:25
- Checklist Cont’d 00:37:06
- Performance Evaluation 00:39:48
- Evaluation Cont’d 00:43:44
- Section Four - Step 3 - Further Tools 00:48:17
- Lean Supply Chain 00:48:32
- Risk Analysis 00:51:05
- What is an FMEA? Failure Mode & Effects Analysis 00:54:40
- Failure Mode & Effects Analysis (FMEA) 00:55:28
- Understanding “Total Cost” 01:00:34
- Procurement Process Cost Factors 01:02:09
- Commodity Process Cost Factors 01:03:24
- Procurement Operational Performance Costs 01:06:18
- The Impact Of Suppliers On Total Company Costs 01:10:57
- Simplified Income Statement 01:11:50
- Modified Statement 01:12:52
- Supplier Role In Quality 01:13:40
- Impact On Inventory 01:14:39
- Carrying Cost 01:16:38
- Section Five - Step 4 Technology Enablers 01:19:13
- SRM - Supplier Relationship Mgt. Technology 01:19:36
- SRM Technology 01:21:17
- Benefits Of Managing SC Network Relationships 01:23:45
- Benefits of Managing SC Network Relationships Continued 01:24:50
- Section Six - Step 5 Collaborating Internally And Externally 01:25:44
- Collaborative Relationships 01:25:54
- Transforming The Relationship 01:28:15
- Lifetime Customer 01:30:15
- Section Seven - Step 6 Attracting And Retaining Supply Management Talent 01:35:26
- The Future 01:35:42
- Changes In Our Roles 01:37:28
- Skill Sets 01:40:58
- Technology 01:42:09
- Organization 01:43:16
- Section Eight - Step 7 Managing And Enabling The Future Supply Management Organization 01:45:06
- Supply Management Vision 01:45:41
- Supply Management Mission 01:46:42
- Mission Continued 01:48:35
- Supplier/Purchasing Performance Metrics 01:49:52
- Selected Procurement Measures 01:50:50
- Quarterly Business Review (QBR) 01:53:00
- Rules For Success 01:54:07
- Success 01:56:28
- What’s Next 01:57:21
- Recap 01:58:36
- Question & Answer 01:59:44
- Final Comment Reflecting 02:00:16
- Presentation Closing 02:02:08
- 80-20 Pareto Rule 00:12:28, 00:12:35
- Commodity 00:13:14, 00:14:44, 01:43:29
- Cost 01:15:03
- FMEA - Failure Mode and Effects Analysis 00:54:40
- Inventory 01:14:46, 01:16:46
- Risk Analysis 00:51:05
- Strategic Sourcing 00:04:04
- Supplier 00:05:47, 00:06:26, 01:10:53
- Supply Chain 00:48:38
- Total Quality Management (TQM) 00:36:40
80-20 Pareto Rule: The Pareto principle states that, for many events, roughly 80% of the effects come from 20% of the causes.
Commodity: A basic good used in commerce that is interchangeable with other goods of the same type.
Cost: The sum of the applicable expenditures and charges directly or indirectly incurred in bringing an article to its existing condition and location
Failure Mode Effects Analysis (FMEA): Failure mode and effects analysis is the process of reviewing as many components, assemblies, and subsystems as possible to identify potential failure modes in a system and their causes and effects.
Inventory: A company's inventory typically involves goods in three stages of production: raw goods, in-progress goods, and finished goods that are ready for sale. Inventory or stock refers to the goods and materials that a business holds for the ultimate goal of resale, production or utilization.
Risk Analysis: Risk analysis is a technique used to identify and assess factors that may jeopardize the success of a project or achieving a goal.
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.
Total Quality Management (TQM): Total quality management consists of organization-wide efforts to "install and make permanent climate where employees continuously improve their ability to provide on-demand products and services that customers will find of particular value."