Description

Learn the proper elements required to develop a strategic and tactical planning process.
Every organization needs a strategic plan to make sure it knows where it’s going in order to do things better, faster, and cheaper. Strategic planning is all about setting the longterm direction of the company, knowing what the organization’s goals, intentions and values are. Purchasing and supply management executives often get so preoccupied with the immediate issues (thinking tactically rather than strategically), that they lose sight of their ultimate objectives. As procurement teams face the challenges and opportunities resulting from increasing competitiveness, accelerating globalization and the growth of services as a key differentiator in the marketplace, it is essential that organizations reassess their existing strategy and continuously validate its effectiveness based on the current and anticipated future business environments. Today, strategies are more a part of an organization’s success than ever before. Not only has technology given companies the opportunity to truly make purchasing and supply management more efficient and inexpensive, but companies are now spending a larger percentage of their revenue on products and services than they were 30 years ago. Most organizations spend around 2060 of their money on the materials, supplies, capital equipment, technology, and services that are necessary to keep the enterprise running. As a result of these changes, more organizations need to put in place best practices that can guide their purchasing decisions and that can help them make their business a success.

Date: 2020-01-24 Start Time: End Time:

Learning Objectives