Sourcing Strategy

  • Level: Entry
  • E-learning: 1 hour
  • Modules: 5
  • Quiz: Multiple choice
  • Certificate: Digital
Write your awesome label here.

Course overview

Sourcing decisions can have a huge impact on costs, business agility and customer perception and confidence, and as is frequently seen in today’s media, getting sourcing right is critically important. To fully understand sourcing is to know how to build a sourcing strategy, consider FOB and landed options and use this knowledge to make decisions in the best interests of your business and your customer.

In this course, you will learn:
  • How to build a sourcing strategy
  • The importance of ethical and sustainable sourcing
  • The different ways of sourcing product
  • The terminology commonly used within sourcing
  • How to calculate a landed cost price
  • How to consider cultural differences to improve business relationships

Modules in more detail

  1. Sourcing strategy – what is a sourcing strategy, why do you need one and how do you go about building one?
  2. Sourcing ethically and sustainably – what does this really mean, and how can you make ethical and sustainable decisions?
  3. Types of sourcing – the pros and cons of different sourcing models
  4. Terminology and jargon – understand how to ‘speak’ sourcing so you can calculate a landed cost price with confidence
  5. Cultural considerations – an appreciation of cultural differences and how this insight enables you to build better business relationships

Who is this course for?

  • All entry and intermediate-level buying, merchandising and planning roles with responsibility for interacting with suppliers and sourcing products
  • Small retail business owners who wish to develop a sourcing strategy

Other courses that may interest you...