Spend Management

Sourcing Execution

In today’s highly volatile economic environment, enterprises worldwide are facing increased challenges to sustain profitable growth.

Reduce Costs, Optimize Value & Secure the Supply Chain

Sourcing Execution
Category Playbooks, Negotiation Strategies & Total Cost of Ownership

Our team of supply management experts help companies deliver top- and-bottom-line value. We have extensive reach in sourcing experience and can staff a project with experienced consultants. We bring deep expertise in all spend categories at global, regional, and local levels.

Sourcing Execution

Sourcing Methodology

  • 01

    ENGAGE
    Initial analysis of contracts and data, kickoff with stakeholders
  • 02

    ANALYSIS
    Internal and external analysis, identification of opportunities and benchmarking
  • 03

    STRATEGY
    Develop the initial supplier pool and a formal plan
  • 04

    GO-TO-MARKET
    Issue RFx, evaluate bids and perform scenario analysis
  • 05

    NEGOTIATIONS
    Negotiate commercial terms with suppliers
  • 06

    CONTRACT
    Negotiate legal terms and sign the agreement(s)
  • 07

    IMPLEMENTATION
    Award and onboard supplier(s) and update processes
  • 08

    CHANGE MANAGEMENT
    Notify and train all stakeholders

    Ready to begin your Procurement transformation?

    Leverage Expertise In Strategic Sourcing Execution To Rapidly Improve The Bottom-Line

    All strategic sourcing teams rely on spend analytics to provide detailed spend visibility that inspires procurement insight and action. Conducting a formal spend analysis is the foundation of any long-term cost savings initiative. Research shows that procurement organizations frequently lacks the type of high-quality, sourcing-ready data necessary to identify and realize cost savings.

    Velocity has produced over $800 Million of measurable savings, with both direct and indirect materials and services, for clients through strategic sourcing. Our strategic sourcing services not only create a more efficient environment and enable a self-funding approach for your procurement transformation.

    Velocity Procurement provides a full-service model of procurement-focused spend analysis services supported by a formal strategic sourcing methodology. This combination enables you to gain clear insight into your spend portfolios and drive savings.

    CONSULTING

    Velocity Procurement will act as an extension of your existing category management and sourcing team, and provide traditional consulting sourcing services. We will develop relationships with the business stakeholders and users to understand business requirement and priorities to ensure buy-in to the sourcing strategy. This model provides the most experienced sourcing experts to fully execute and deliver sourcing savings.

    ON-DEMAND
    savings is critical, on-demand sourcing execution can quickly plug-in. We work as an advisor role to provide the existing sourcing function with on-the-job training, category expertise, and transfer our knowledge. This model provides experience and expertise to achieve additional savings and meet spikes in sourcing project volume.

    OUT-TASKING
    On and Offsite sourcing project and supplier management which includes managing sourcing events – including reverse auctions. The offsite model, aka shared services, is designed to be scaled and flexible to meet your individual needs. This can range from eRFx event and auctions support to full category management and sourcing strategy assistance. The onsite model will give your sourcing team access to the expertise they need to deliver savings quicker.

    The Velocity Difference

    Some procurement organizations have achieved a high level of maturity or have excelled in certain areas of their business, yet they still require some degree of support in expanding their capabilities

    Our experienced resources bring category knowledge, process rigor and stakeholder management

    We conduct true strategic category analysis to identify the right strategy – not a one size fits all approach

    Our team will blend into your organization to best align with and understand the business culture and mindset

    The value we deliver can be measured against the spend baseline which enables a tangible impact on your bottom-line

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