But companies must now factor in a host of new variables, such as rising protectionism and nationalism across the political landscape. It is carried out by analyzing spending patterns, defining requirements and aligning the company’s needs with market capabilities. The Supply Chain Management Specialization is made up of four basic courses in logistics, operations, planning, and sourcing, followed by a capstone course in Supply Chain Management Strategy. In today’s competitive business climate, supply chain management professionals are constantly seeking out creative ways to reduce costs, assure and improve the quality of the final product and achieve a faster time to market. Managed a staff of six inclusive of in-house print management firm leadership. The Supply Chain Logistics course will cover transportation, … Identify the targeted spend area(s) and conduct a spend analysis. Here’s how it works: How Incorporating Six Sigma into Strategic Sourcing helps Strengthen the Supply Chain In the early days of manufacturing, managers often relied on guesswork when adjusting their processes. Develop strategic sourcing goals and strategies for each category 3. Expertise in P&L management, supply chain improvement, project leadership and operational excellence; * Customer focused, execution minded and result oriented professional.
Failures and missed opportunities were common, as tweaks to manufacturing and supply lines were frequently based on “gut feelings.”
Strategic sourcing is an approach to supply chain management that formalizes the way information is gathered and used so that an organization can leverage its consolidated purchasing power to find the best possible values in the marketplace. Six Sourcing Strategies • Many suppliers • Few suppliers • Vertical integration • Joint ventures • Keiretsu networks • Virtual companies 13 Many Suppliers • Commonly used for commodity products • Purchasing is typically based on price • Suppliers compete with one another • Supplier is responsible for technology, expertise, forecasting, cost, quality, and delivery This is forcing many to reexamine their business-continuity risks and embrace new sourcing strategies. Strategic Sourcing: A Step -By-Step Practical Model Robert J. Engel, Vice President -Project Services The Procurement Centre 713-623-0111 Ext. We hear and read a great deal of information in our Supply Chain profession about Strategic Sourcing. The main objective of strategic sourcing is to save money but other reasons include improving the acquisition process, supplier performance and minimizing risk. Here are six trends that will help you re-evaluate current processes and performance . A periodic review of the sourcing strategy ensures achievement of desired results and continued alignment with business objectives. 224; bengel@tpc-usa.com 89th Annual International Supply Management C onference, April 2004 Abstract.
The COVID-19 pandemic is a wakeup call for C-level executives to develop new business strategies in their future supply chain designs.
Create the sourcing team (typically a cross-functional team led by Procurement) 4. Here are six supply-chain strategies designed to help enterprises thrive in the current environment. Develop a team strategy and communication plan 5. Strategic Sourcing- The Six Step Process Strategic sourcing is a structured process that optimizes a company’s supply base, increases efficiency and reduces cost. Getty Images. Tim Vaio. 3. As companies increasingly use their supply chain …
Risk Management. Experience has shown that the 7 step* strategic sourcing process developed in 2001 has stood the test of time and with variations, has become best practice. The supplier ensures purchasing best practices using a number of tools such as six sigma. Strategic sourcing is one method that procurement managers can use to help achieve these supply chain goals.
Some of the sourcing strategies that are used in supply chain management today include: Single sourcing: A method whereby a purchased part is supplied by only one supplier. Strategic Sourcing Manager at DHL Supply Chain ... to identify an in-house print management firm.
the presentation is about the six sourcing strategy in supply chain it has included all type of sourcing strategies that are used in supply chain. Hitachi Consulting. Many Suppliers With the many-suppliers strategy, a supplier responds to … - Selection from Operations Management: Sustainability and Supply Chain Management, Twelfth Edition [Book] Gather information on supplier capabilities. November 4, 2019. Global Sourcing. Six Sourcing Strategies LO 11.2 Identify six sourcing strategies Having decided what to outsource, managers have six strategies to consider. As more companies obtain their supplies from countries such as China and India, they are more concerned with the risk management of this supply chain.