Achieved Savings
Velocity has helped clients improve their sourcing programs allowing them to realize significant cost savings, increase sourcing efficiency and enhance supplier relationships.
Some of our recent client results include:
Sourcing Spend Volumes
by Top Portfolio
$765M
Total Savings
Realized
4,685
Suppliers
Enabled
8.4%
Active Suppliers Enabled
12.9%
Average TCO
Savings Achieved
545
Sourcing Projects Successfully Delivered
$5.9B
Client Spend
Managed
About Strategic Sourcing
Strategic Sourcing is a procurement process whereby category managers work closely with internal stakeholders and suppliers to optimize cost savings balanced with value, while aligning to the overall business strategies of the enterprise.
The approach is founded on a detailed understanding of both the spend profile of the organization, as well as of the supplier market.
Our is Savings Desk continually grows their knowledge to deliver ongoing improvements to our client organization’s procurement and supply chain performance.
Typical Sourcing Levels
- Competitive bidding
- Price benchmarking
- Volume discounts
- Buying power
- Reverse auction
- Build vs buy
- Demand planning
- Supplier consolidation
- Risk management
- Supplier innovation
- Outsourcing
- Compliance
- GPO
- Service levels
- Inventory management
- Logistics integration
- Performance penalties
- Agreement terms
- Data mining
- Globalization
Striving for Best in Class
Sourcing Savings
Sourcing Cycle Days
Source: Hackett Group Benchmark
Benefits of Automation
eSourcing Automation Increases Sourcing
Throughput by nearly 3X
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