CILT Endorsed Strategic Sourcing: 7 Steps for Better Procurement Value Course

The British Academy for Training and Development offers the CILT Endorsed Strategic Sourcing: 7 Steps for Better Procurement Value Course, designed to improve the capabilities of procurement professionals to source strategies that maximize value. This course covers the 7-step strategic sourcing process, empowering attendees to create cost-efficient and value-driving solutions for procurement. Starting from spend visibility, this process guides organisations through analyzing current expenditures and identifying areas where costs can be saved. Attendees will learn to undertake market research to help understand supplier capabilities and market trends. Identification and evaluation are key focus areas that determine the right partners for a company. The course teaches the creation of sourcing strategies that guide professionals in determining the best procurement approaches. The Acquisition will empower attendees with contract negotiation and supplier selection skills, which will enable them to negotiate the best contracts. Implementation and management of supplier relationships form the other part of procurement success over time. Finally, the continuous improvement and performance measurement part helps professionals refine their sourcing strategies in line with key performance indicators (KPIs). Attending this course will provide procurement professionals with the exact skills on procurement value piping, furnish cost savings, and enhance supplier collaboration for sustainable gains.