Sole Sourcing in Procurement
eSeminar: Sole Sourcing
How can you find or build leverage where only one supplier can provide the goods or services?
This eSeminar will provide an overview of the challenges faced in the market by procurement staff and their stakeholders in this common situation. Sole sourcing is neither good nor bad. The agreement by which the parties conduct the relationship is the key to value.
We will discuss the strategies which lead to sole sourcing (or single sourcing); the advantages and disadvantages to these arrangements; and how to leverage your position to increase the value proposition. Through case studies and exercises we will share ideas to address your BATNA and affect power relationships in sole sourcing situations. Course Description
- Examine the characteristics of sole and single sources
- Review how to ensure value where competition is limited
- Discuss creating competition in oligopolistic markets
- Practice developing your BATNA
- Identify and discuss how to mitigate risks in sole source agreements
- Discuss building effective relationships with sole sources
Contact us to schedule your in-house session.