A global engineering company with headquarters in Europe and Indian operations. The company specialises in turnkey (EPC) projects related to mining and cement industries. The India operations support a growing domestic market.
While the company was growing, it wanted to increase its market share in a specific product line. Since the market was very price sensitive, the company needed to reduce its costs.
One of the areas identified for the cost reduction initiative was the sourcing function. The general manager of the company decided to strengthen the skills of the team, which had members of varying work experience (from 4-15 years).
The programme selected was the Strategic Sourcing (part of the Masters series). As part of the course, participants honed their skills on various aspects of the subject including supply market analysis, spend analysis, supplier selection, value engineering and supplier development. An important aspect of the course was that students had to undertake a project that would deliver measurable benefits to the organisation.
The participants undertook multiple projects including new supplier development, improving ordering through ERP, spend analysis, optimisation of supplier payment terms, market analysis for a new source and cost optimisation for a specific part.
With guidance from the MCS faculty, most of the projects resulted in measurable benefits to the organisation while significantly strengthening the skills of the participants.
The team was able to obtain several benefits by implementing the sourcing projects. They were able to contribute significantly to the cost reduction exercise of the company.
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Increase the market share of a specific product line in a price sensitive market environment.
Procurement staff across the company. Portfolios included entry and mid-level executives from procurement.
Strategic Sourcing (Masters Series) programme from MetaCog Solutions Pvt. Ltd.
- The team was trained on various aspects like supply market analysis and spend analysis.
- The projects undertaken as part of the course had clear measurable results to be delivered as part of the learning process.
- Active guidance from the faculty resulted in the projects yielding measurable benefits to the organisation.
- Significant contributions to the cost reduction exercise resulted as a benefit from the implementation of the learning by the team.