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Procurement Sourcing Best Practices: Key Strategies to Increase Contracting Success, by Lorman

Procurement Sourcing Best Practices: Key Strategies to Increase Contracting Success is brought to you by Lorman

Understand the various areas of procurement that impact the effectiveness of contracting for goods and services.

Procurement has increasingly become a focal point of public and private sector organizations and companies. Business owners, industry executives, and government leaders have all experienced the struggles of the constrained supply chain, the challenges of creating a more diversified supplier base, and the risks that have increased in contract delivery and execution. This course will discuss the importance of individuals with procurement responsibility understanding the various areas of procurement that impact the effectiveness of contracting for goods and services for the public and private sector. The panelist experts will discuss how to increase the value of procurement service delivery through improved core competency development, effective application of appropriate sourcing tools, strategizing effective contract administration, and increased diversity of the supply chain. This course will also discuss how procurement professionals and those involved in the sourcing process can leverage best practices to increase value to clients, reduce risk, and improve contract success. This material is critical for all those involved in the procurement process.

Learning Objectives

  • You will be able to identify skills and core competencies required for the sourcing process.
  • You will be able recognize essential methods and key components in the solicitation and sourcing processes.
  • You will be able to identify key components of contract administration
  • You will be able to identify desirable aspects of diversification.

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