Recent and ongoing disruptions to existing supply chains have given many manufacturers reason to reassess their current sourcing strategy. By developing an internal strategic sourcing team and leveraging commodity strategy as a part of strategic sourcing, business owners can regain control of where and with whom their money is being spent. This one-day workshop will take a deeper look at strategic sourcing and how manufacturers and other business owners can benefit from this approach to supply chain management. Topics include:

• Summary of what Strategic Sourcing is and what it should not be
• Strategic Sourcing: What’s in it for me?
• Review specific functions and responsibilities in general of the Strategic Sourcing team
• Key components of a Commodity Strategy as part of Strategic Sourcing
• Negotiation Strategy Considerations
• Data-driven Decision Making
• Relationship & Leverage Buying
• Sole Source and Single Source products
• Customer Directed Buy
• Customer negotiated pricing
• Ease of Resourcing:
  • Understanding the ramifications of all actions relative to the supplier
• Preparation is always the key to successful negotiations
• Buyer work and capacity chart
• Commodity Taxonomy