Sourcing refers to the process of finding, assessing and finalizing purchases of goods or services from external suppliers as per the needs of the company. The process involves shortlisting suppliers, negotiating terms and prices as well as manage relationships with suppliers. The process helps companies onboard effective and efficient suppliers and increase their profits.
A certification in Sourcing validates an individual’s expertise in sourcing tools and techniques. This certification assess you in sourcing strategies, supplier management, market research, and negotiation skills. Why is Sourcing certification important?
Demonstrates expertise in sourcing methodologies and tools.
Builds credibility with employers and clients.
Improves strategic thinking and decision-making in procurement or recruitment.
Enhances negotiation and supplier/vendor relationship management skills.
Aligns professionals with industry best practices and global standards.
Increases earning potential and career growth opportunities.
Provides a competitive advantage in a highly specialized domain.
Offers a comprehensive understanding of cost-saving strategies.
Who should take the Sourcing Exam?
Procurement Specialists
Sourcing Managers
Supply Chain Analysts
Vendor Managers
Talent Acquisition Specialists
Recruitment Consultants
Purchasing Agents
Category Managers
Operations Managers
Strategic Sourcing Analysts
Skills Evaluated
Candidates taking the certification exam on the Sourcing is evaluated for the following skills:
Market research and supplier/vendor identification.
Understanding procurement or recruitment strategies.
Contract negotiation and management.
Cost analysis and budgeting.
Vendor evaluation and performance monitoring.
Effective use of sourcing tools and technologies.
Strategic thinking and risk management.
Compliance with legal and ethical standards.
Communication and stakeholder management.
Sourcing Certification Course Outline
The course outline for Sourcing certification is as below -