Strategic Sourcing in Supply Chain: Elevating Procurement for Business Success
Channel: MIT Center for Transportation & Logistics
Date: 2023-10-10

Strategic sourcing and procurement are keys to business success and value creation.

Highlights
📈 Understand how to capture value through negotiations and cost analysis.
🤝 Build strong partnerships with suppliers through contingency planning and risk assessment.
💻 Leverage digitization and AI to optimize and automate procurement processes.
📊 Track and measure key performance indicators (KPIs) to ensure continuous improvement.
🤝 Integrate procurement strategies and operations with the overall business objectives.

Summary: Supply chains are getting more and more complex with growing customer needs and constantly evolving macro-economic impacts. For Procurement professionals, this means a higher number of SKUs, suppliers, stakeholders, and contracts to manage. With increasing complexity, how mature does a company's Procurement function need to be to run efficiently, meet financial goals, and be a strategic partner to the business?

In this live event, Course leads Paulo Sousa Jr. and Miguel Rodriguez Garcia host Niranjini Kumar, Management Consultant at McKinsey & Company,  review different maturity levels of Procurement organizations, review the end-to-end sourcing process, dive into common leakages in the process in both strategic and transactional procurement, and discuss actions that can be taken by Procurement professionals to capture value.

The MITx MicroMasters® Program in Supply Chain Management Website: https://micromasters.mit.edu/scm/

Enroll in our courses (Audit for free): https://www.edx.org/masters/micromasters/mitx-supply-chain-management?utm_medium=partner-marketing&utm_source=social&utm_campaign=mitx&utm_content=CTL-program-youtube

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