COURSE DESCRIPTION
In recent years, increasing numbers of companies have become aware that the marketplace encompasses the world, not just the country in which they do business. For example, many firms have found that evaluating offshore sourcing alternatives is essential to a well-run, cost effective organization. Alternatively, by developing export markets, firms have highlighted the need for effective supply networks throughout the world. Conversely, companies located in other countries have also broadened their sourcing and marketing considerations geographically-they look toward global supply strategies and operations to provide competitive advantage through efficiency, effectiveness and differentiation.
Today’s supply managers are finding that they need to do much work in terms of conceptualizing, designing, and implementing initiatives that may be effective globally. In addition, supply managers need to understand the risks inherent in sourcing globally and be able to develop mitigation strategies for these risks. This course and the associated case studies, activities and discussions address key issues and topics that are essential to the global aspects of supply and risk management.
WHO SHOULD ATTEND
Sourcing and procurement managers, supply chain managers, logistics and supply chain planners, leaders/individuals involved in supply chain cost reduction initiatives, individuals needing to expand sourcing knowledge
HOW YOU WILL BENEFIT
Upon completion of this course, you will be able to:
- Describe the major similarities and differences between domestic and global supply.
- Discuss the reasons for the increase in global business activity.
- Understand the key trends in the global marketplace.
- Describe the critical changes affecting global logistics.
- Understand and classify supply risk.
- Define risk mitigation strategies.
- Effectively manage supply risk.
WHAT IS COVERED
The Changing Global Landscape
- The growth in international trade
- Macro effects from micro events-trade imbalances, changing supply and demand markets, changing exchange rates
- The growth in international purchasing
- Evolving towards global supply management
- Changing political and legal environments
- Global competitive strategy
- Critical factors and key trends
Understanding International Sourcing
- International logistics complexities
- Global transportation options
- International distribution/storage facilities
- Strategic channel intermediaries-Freight Forwarders, Export Management Companies, Customs House Brokers, Ship Agents, Export Trading Companies, etc.
- Governmental influences-Customs Regulation, Other Customs Functions, Foreign Trade Zones
Sourcing in Emerging and Low Cost Countries
- New directions in low cost country sourcing-offshoring, nearshoring and Xshoring
- International purchasing offices (IPO’s)
- Using IPO’s to support global outsourcing
- Understanding cultural differences
- Outsourcing services internationally
- Mapping global supply chains and total supply chain cost/TCO development
Identifying, Preventing and Managing Global Supply Risk
- Marketplace trends and developments affecting risk
- Categories of global risk
- Identifying and categorizing risk
- Risk assessment and prioritization
- Risk mitigation and developing and testing risk mitigation strategies
- Approaches and practices for preventing and managing risk
- Mapping your firm’s global supply and risk management maturity against best in class firms
Pursuing Global Supply Management Excellence
- Making the case for global supply management
- Evolving towards global supply management
- Reaping the benefits of global supply management
- Linking global supply management to business financials
- Factors that define global success
Developing Global Supply Strategies
- The importance of strategy objectives and goals
- Global supply strategy constraints
- Characteristics of effective global supply strategies
- Global supply strategy development
- A leaders approach for developing global supply strategies
- Asking the right questions
Creating a World Class Global Organization
- Characteristics of a leading global organization
- Global supply management best practices
- Learning from global supply leaders
- Coordinating supply management across many countries
- Making globalization work
COURSE MATERIALS
Required
- Laptop
- Calculator
Provided
- Memory stick
- Book: Managing Global Supply & Risk: Best Practices Concepts and Strategies by Dr. Robert Trent and Lew Roberts
COURSE PREREQUISITES
None.
CERTIFICATE INFORMATION
This course is part of the Strategic Sourcing and Supply Management (SSSM) Certificate.
PROGRAM TIMES
On the first day, please check in at least 30 minutes before the class start time.
- First Day (8:00am-5:00pm)
- Second Day (8:00am-5:00pm)
- Third/Last Day (8:00am-5:00pm)