Cost Reduction
Recover Hidden Cashflow | Procurement SpendA business framework and process that engages business leaders; unearths significant business savings within a 12-month timeframe.
Core process: Align benchmark data with insider experts – multiple vendor industries; global network of 650+ experienced consultants across procurement supply chain. Execute savings without jeopardizing existing relationships; without forcing clients to use specific vendors; without degradation in quality or service – while concurrently improving process efficiencies.
Critical steps along the way include the following:
- Develop a roadmap to dramatically and consistently reduce procurement spend
- Analyze and validate actual purchase history to the lowest level possible
- Understand qualitative requirements for each cost category
- Understand assumptions and processes that drive purchasing requirements
- Perform deep dive; gain understanding of suppliers and their industries
- Re-evaluate current supplier relationships based on new insights
- Execute better requests for proposals; right timing, right questions
- Negotiate, decide, implement, monitor
- Improve the expense culture mindset across the organization
- Drive tangible expense reduction; across categories
By participating in Procurement Spend | Recover Hidden Cashflow, cross functional leaders build:
- Awareness of the key challenges of expense management
- Learn the top ten misconceptions in working with suppliers and how to address these challenges to their respective business
- Understand (begin to apply) best practices in world-class expense management
- Get results. 10%-30% reduction in spend