Mastering Global Sourcing

Overview
Course Outline
Scheduled Dates

Course Overview

This comprehensive five-day program equips you with the essential knowledge and skills to navigate the exciting and dynamic world of Global Sourcing. Through interactive sessions, case studies, and practical exercises, you'll gain a deep understanding of the strategic advantages of global sourcing, develop expertise in supplier identification, evaluation, and management, and learn best practices for navigating the complexities of international trade. By the end of this course, you'll be well-prepared to leverage global sourcing to optimise your supply chain and maximise your organisation's profitability.

Objective:

Develop a comprehensive understanding of the evolving landscape of global sourcing and its impact on businesses.
Evaluate the benefits and potential challenges of adopting a global sourcing strategy.
Master the critical steps involved in the global sourcing process, from supplier identification to contract negotiation.
Develop effective techniques for evaluating and selecting the best international suppliers based on quality, cost, and reliability factors.
Gain expertise in managing global supplier relationships for long-term success.
Understand the legal and regulatory considerations when sourcing goods and services abroad.
Develop strategies for mitigating risks associated with global sourcing, such as currency fluctuations and political instability.
Learn best practices for managing logistics and transportation in a global supply chain.

Course Outline

Day 1: The Global Sourcing Landscape

Drivers of Global Sourcing: Explore the economic, technological, and geopolitical factors driving the trend towards global sourcing.
The Benefits of Global Sourcing: Analyse the potential advantages of a global sourcing strategy, including cost reduction, access to specialised skills, and market diversification.
Potential Challenges & Risks: Identify challenges associated with global sourcing, such as cultural differences, communication barriers, and transportation complexities.
Developing a Global Sourcing Strategy: Learn how to develop a strategic framework for implementing global sourcing within your organisation.

Day 2: Identifying & Evaluating Global Suppliers

Supplier Discovery Methods: Explore various techniques for identifying potential global suppliers, including online platforms, industry publications, and trade missions.
Supplier Qualification Criteria: Develop a framework for evaluating potential suppliers based on quality, cost, reliability, and other critical factors.
Request for Information (RFI) & Request for Proposal (RFP): Learn how to develop effective RFIs and RFPs to gather necessary information from potential suppliers.
On-Site Supplier Visits & Audits: Understand the importance of conducting thorough on-site visits and audits of potential suppliers.

Day 3: Negotiating & Managing Global Contracts

International Contract Negotiation: Explore critical considerations for negotiating contracts with international suppliers, including cultural differences and legal frameworks.
Incoterms & International Trade Regulations: Understand the importance of Incoterms (International Commercial Terms) in defining responsibilities and risks in international trade.
Contract Clauses & Risk Management: Examine key contract clauses related to pricing, payment terms, intellectual property protection, and dispute resolution.
Best Practices for Managing Supplier Relationships: Learn how to build strong and collaborative relationships with your global suppliers for long-term success.

Day 4: Logistics & Risk Management in Global Sourcing

Global Logistics Management: Explore the complexities of international transportation and logistics, including customs clearance and transportation options.
Risk Mitigation Strategies: Learn how to identify, assess, and mitigate risks associated with global sourcing, such as currency fluctuations and political instability.
Quality Control & Inspection: Understand the importance of quality control measures and inspection procedures for imported goods.
Compliance with International Trade Regulations: Gain insights into complying with various international trade regulations, including customs laws, product safety standards, and labour regulations.

Day 5: Implementing a Successful Global Sourcing Strategy

Developing a Global Sourcing Action Plan: Translate theory into practice by building your global sourcing strategy.
The Future of Global Sourcing: Explore emerging trends and technologies impacting global sourcing practices.
Course Wrap-Up & Q&A

Schedule & Fees

3 For 2Offer

Get the most out of group training with our special discount! Register 3 of your participants together on the same course and only pay for 2.

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Dubai
London

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