Strategic Sourcing and Management – Workshop 1 (Obtaining Value)
The Appleton Greene Corporate Training Program (CTP) for Strategic Sourcing and Management is provided by Dr. Bonhag Certified Learning Provider (CLP). Program Specifications: Monthly cost USD$2,500.00; Monthly Workshops 6 hours; Monthly Support 4 hours; Program Duration 12 months; Program orders subject to ongoing availability.
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Learning Provider Profile
Dr. Bonhag is an approved certified learning provider (CLP) at Appleton Greene and is a business leader and strategist with broad experience in the healthcare delivery, global pharmaceutical, and health insurance sectors. He has worked with premier companies, including Universal Health, Blue Cross & Blue Shield, ICON, Fresenius Medical Care, Innovage, Priority Health, Highmark, MidState Medical Center, and Mercy Healthcare.
He has personally led the selection and management of more than 30 transformational implementations involving strategic sourcing and managing those vendors to success. In some cases, an existing application can benefit the company; in other cases, developing a robust solution requires the external expertise of a developer vendor. It is crucial to select the correct strategy and to ensure that the resultant solution meets the Key Performance Indices (KPIs) and Return on Investment (ROI) for which the project was initiated.
As a seasoned operational leader, whether as a Chief Operating Officer for a 425-bed teaching hospital, Director of Managed Care supporting 350,000 members, or freelance Program manager assisting hospitals, health plans, or delivery systems, he has the experience to help you overcome the challenges of selecting the right vendor and solution.
He is an experienced trainer and mentor sought out by his previous clients to help them with program and project management and strategic sourcing for operational excellence. He has real-world experience with implementing new products and improving the operations. He draws on that experience from 30 companies to lead your team through the steps to be successful.
His formal education includes earning a Master of Business Administration in Finance and Information Systems from Duke University, a bachelor’s in mathematics and physics from Franklin & Marshall College, and a Doctorate from Fairleigh Dickinson University.
MOST Analysis
Mission Statement
One tactic in innovation is to find and leverage outside talent to boost the organization’s profitability while minimizing outsourcing risks. We will need external talent and resources to amplify our internal capacity. It will be essential to understand how other companies have developed the infrastructure required to obtain value for the company, not only for one project but for all their outsourcing projects. We will cover the following components:
• Key Performance Indicators (KPIs): Specify the essential KPIs relevant to sourcing and vendors in IT projects. Examples include return on investment, total cost of ownership, cost savings, project delivery time, quality of deliverables, vendor responsiveness, and customer satisfaction.
• Benchmarking and Industry Best Practices: Explore industry best practices in strategic sourcing and vendor management—examples of successful organizations effectively leveraging external talent and resources to drive innovation. Benchmarking against industry leaders can provide valuable insights.
• Risk Mitigation Strategies: Discuss strategies for mitigating outsourcing risks. Identify common challenges in outsourcing IT projects and propose risk management strategies. Mitigations could include contractual agreements, performance monitoring, and contingency planning.
• Case Studies: Present real-world case studies of organizations that have successfully obtained value through strategic sourcing and vendor management. Highlight the challenges faced, the strategies employed, and the outcomes achieved. The use of case studies and simulations will add to the learning.
• Talent Management Strategies: Explore practical ways to manage external talent, including consultant onboarding, skill assessment, and knowledge transfer. Discuss methods for integrating external resources seamlessly into existing teams and processes.
• Technology Platforms and Tools: Introduce relevant technologies and tools that facilitate vendor management and collaboration. These tools could include project management software, communication platforms, and performance analytics tools that support effective collaboration with external partners.
• Continuous Improvement Framework: Outline a framework for continuous improvement in vendor management processes. Emphasize learning from each project and updating strategies and procedures accordingly.
• Legal and Compliance Considerations: Learn how to address data protection, intellectual property rights, and regulatory compliance. Learn how to navigate these issues effectively.
• Scalability and Flexibility: Discuss how to build a vendor management infrastructure that is scalable and flexible as the organization changes. Consider business growth, changing project requirements, and technological advancements.
• Stakeholder Communication: Highlight the significance of effective communication with internal and external stakeholders. Discuss strategies for maintaining transparency, resolving conflicts, and fostering a collaborative environment.
By incorporating these elements, the “Obtaining the Value” portion will provide a more comprehensive guide for organizations looking to optimize their vendor selection and management processes for IT projects.
Objectives
01. Value Identification and Alignment: departmental SWOT analysis; strategy research & development. Time Allocated: 1 Month
02. Innovation: departmental SWOT analysis; strategy research & development. Time Allocated: 1 Month
03. Definitions: departmental SWOT analysis; strategy research & development. Time Allocated: 1 Month
04. Can We Do This Internally?: departmental SWOT analysis; strategy research & development. Time Allocated: 1 Month
05. Let’s Look at External: departmental SWOT analysis; strategy research & development. Time Allocated: 1 Month
06. Mission and Objectives: departmental SWOT analysis; strategy research & development. Time Allocated: 1 Month
07. Establish Authority to Proceed: departmental SWOT analysis; strategy research & development. 1 Month
08. Talent Management Strategies: departmental SWOT analysis; strategy research & development. Time Allocated: 1 Month
09. Technology/Tools to Help: departmental SWOT analysis; strategy research & development. Time Allocated: 1 Month
10. Legal & Compliance Considerations: departmental SWOT analysis; strategy research & development. Time Allocated: 1 Month
11. Change Management and Stakeholder Communications: departmental SWOT analysis; strategy research & development. Time Allocated: 1 Month
12. Scalability and Overview: departmental SWOT analysis; strategy research & development. Time Allocated: 1 Month
Strategies
01. Value Identification and Alignment: Each individual department head to undertake departmental SWOT analysis; strategy research & development.
02. Innovation: Each individual department head to undertake departmental SWOT analysis; strategy research & development.
03. Definitions: Each individual department head to undertake departmental SWOT analysis; strategy research & development.
04. Can We Do This Internally?: Each individual department head to undertake departmental SWOT analysis; strategy research & development.
05. Let’s Look at External: Each individual department head to undertake departmental SWOT analysis; strategy research & development.
06. Mission and Objectives: Each individual department head to undertake departmental SWOT analysis; strategy research & development.
07. Establish Authority to Proceed: Each individual department head to undertake departmental SWOT analysis; strategy research & development.
08. Talent Management Strategies: Each individual department head to undertake departmental SWOT analysis; strategy research & development.
09. Technology/Tools to Help: Each individual department head to undertake departmental SWOT analysis; strategy research & development.
10. Legal & Compliance Considerations: Each individual department head to undertake departmental SWOT analysis; strategy research & development.
11. Change Management and Stakeholder Communications: Each individual department head to undertake departmental SWOT analysis; strategy research & development.
12. Scalability and Overview: Each individual department head to undertake departmental SWOT analysis; strategy research & development.
Tasks
01. Create a task on your calendar, to be completed within the next month, to analyze Value Identification and Alignment.
02. Create a task on your calendar, to be completed within the next month, to analyze Innovation.
03. Create a task on your calendar, to be completed within the next month, to analyze Definitions.
04. Create a task on your calendar, to be completed within the next month, to analyze Can We Do This Internally?.
05. Create a task on your calendar, to be completed within the next month, to analyze Let’s Look at External.
06. Create a task on your calendar, to be completed within the next month, to analyze Mission and Objectives.
07. Create a task on your calendar, to be completed within the next month, to analyze Establish Authority to Proceed.
08. Create a task on your calendar, to be completed within the next month, to analyze Talent Management Strategies.
09. Create a task on your calendar, to be completed within the next month, to analyze Technology/Tools to Help.
10. Create a task on your calendar, to be completed within the next month, to analyze Legal & Compliance Considerations.
11. Create a task on your calendar, to be completed within the next month, to analyze Change Management and Stakeholder Communications.
12. Create a task on your calendar, to be completed within the next month, to analyze Scalability and Overview.
Introduction
In today’s rapidly evolving business landscape, organizations face numerous challenges in effectively managing their sourcing and vendor relationships. With increasing pressure to reduce costs, enhance efficiency, and innovate, the need for a structured approach to strategic sourcing has never been greater. Many organizations struggle with defining clear value propositions for their projects, aligning their sourcing strategies with broader business goals, and managing the risks associated with vendor relationships. These pain points can lead to inefficiencies, increased costs, and missed opportunities, ultimately impacting an organization’s competitiveness and success. As business professionals, project managers, and individuals involved in strategic sourcing and vendor management, your roles are crucial in addressing these challenges and driving success.
Strategic sourcing has been shown to significantly impact organizational efficiency and cost-effectiveness. According to Deloitte, internal IT projects can be 20-30% more expensive than external sourcing. Additionally, outsourcing can reduce IT operating costs by 20-40% on average, highlighting the importance of strategic sourcing in today’s competitive market. These metrics underscore the critical need for a structured approach to sourcing that aligns with an organization’s broader goals and delivers measurable value, emphasizing the significant role you play in this process.
The primary pain point we address with this training is the lack of a cohesive and strategic sourcing and vendor management approach. Many organizations find it difficult to establish clear objectives, measure performance, and mitigate risks in their sourcing initiatives. This often results in projects that fail to deliver the expected benefits, strain resources, and erode stakeholder confidence. Without a solid foundation, even the most promising strategic sourcing initiatives can falter, leading to suboptimal outcomes and diminished returns on investment. However, with our workshop’s comprehensive and practical approach, you can confidently overcome these challenges and not just achieve but sustainably succeed in your sourcing and vendor management initiatives.
Workshop 1, “Obtaining Value,” is a unique opportunity for you to address the challenges you face in your roles as business professionals, project managers, and individuals involved in strategic sourcing and vendor management. It equips you with the knowledge and tools needed to define and achieve project value from the outset. This workshop is the critical first step in our comprehensive 12-workshop series, setting the stage for successful strategic sourcing and vendor management. By defining the project’s value early in the process, Workshop 1 ensures you can align resources, set realistic expectations, and establish measurable goals. This foundational step is crucial for navigating the complexities of strategic sourcing and achieving sustainable success in your respective roles. Participating in this workshop will enhance your understanding of strategic sourcing and empower you to drive value in your projects and contribute to your organization’s success.
Through theoretical insights and practical,