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Pros and Cons of Supplier Consolidation

Gain a better understanding of different approaches to find a strategy for supplier consolidation within your organization.

Getting the maximum value out of the supply base is an important but often misaligned objective. When preferred suppliers aren't leveraged, cost savings and optimal contract potential are greatly diminished. Many organizations struggle with the development of a strategy to address tail end spend to achieve objectives. This leads to lost opportunities and less visibility. This material helps the individuals responsible for managing the company's supplier contracts design a supplier consolidation program. Being able to understand the benefits and potential risks is an important element to establish a program that aligns to your organization's objectives. The content will explain different strategies that can be developed based on factors at hand, and provide an understanding of how to effectively measure and report the results. This is an extremely important and overlooked element of supplier consolidation. An ineffective supplier consolidation approach can diminish the potential value of strongly negotiated contracts while also posing unforeseen risks. The material will provide the pros and cons of different approaches to help you decide the right strategy for your organization.

Runtime: 84 minutes
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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Supplier Consolidation Strategy - an Overview of Defining, Designing, Implementing, and Tracking

  • Goal Setting
  • Building the Program
  • Establishing Measurement Tools

Benefits of a Supplier Consolidation Strategy - Insight to the Potential Impacts to an Organization

  • Breakdown of Each Potential Benefit
  • Reviewing Potential Risks
  • Creating a Balanced Program to Maximize Benefit and Minimize Risk

Measuring the Results of Supplier Consolidation

  • Developing Key Metrics
  • Using an Agile Approach to Optimize Results
  • Reporting Results Tailored to Different Stakeholders
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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Webinar

This course was last revised on May 6, 2019.

Call 1-866-352-9540 for further credit information.

  • CPIM/CFPIM/CSCP 1.0
     
  • This program may qualify for 1.0 certification maintenance points toward the CSCP, CPIM and CLTD designations through The Association for Operations Management.
     
  • ISM 1.25
     
  • Participants who successfully complete this program will receive 1.25 hours of continuing education. They may be applied toward ISM CPSM, CPSD or C.P.M. recertification. ISM's consent to approve hours for this educational event is not an endorsement of this program or its content by ISM.
     

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Audio & Reference Manual

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

MP3 Download

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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More Program Information

Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Kevin Giblin

Kevin Giblin

Chain IQ

  • Serves as the head of Americas Sourcing & Offshoring for Chain IQ®, an independent, global service company providing strategic, tactical and operational procurement for its clients
  • Highly sought-after speaker on procurement best practices and thought leadership
  • Overhauled travel program, setting sourcing strategy and authoring new policy for $50M spend
  • Delivered savings of 20% on rental car spend, and $4M savings on preferred airlines and hotels program through strategic consolidation
  • Drove market share to a select group of airlines and decreased average cost per ticket by 15%
  • Reengineer source-to-pay through lean agile project, resulting in measurable process improvements: Faster speed to market (49% reduction in cycle time), greater customer value (increased customer satisfaction 45% in six months)
  • Provided sourcing leadership and governance on selection process for FAO, HRO, and ITO global partners (A/P, A/R, order-to-cash, RPO, HRMS, payroll, and information technology
  • Developed corporate responsibility and sustainability program, to drive shareholder value and cost reductions resulting in the 2011 Collaborate to Innovate award (IACCM)
  • Can be contacted at 732-770-5083 or [email protected]
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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 405539
Published 2019
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