Leverage Spend Analytics as the Foundation for Savings
Spend Analysis Goes Well Beyond An Effort of “Organizing” Transactional Data
The spend analysis and sourcing opportunity assessment is the initial phase of any strategic sourcing initiative. Velocity has performed over 545 sourcing engagements which has produced an excess of $800M in realized cost savings for clients.
Tried & True Methodology for Estimating Opportunities for Sourcing Savings
Leveraging the spend analysis, it’s important to evaluate existing spend management activities. This includes current contracts, in-flight initiatives, key supplier relationships etc. in order to develop a comprehensive list of opportunities. The purpose of the savings opportunity assessment is to gather all information necessary to decide how spend categories should be managed and what approach to take: Strategic or Accelerated sourcing, Quick-Win Bidding or Tactical Procurement.
Savings Opportunities are Best Defined by the Following Factors
Procurement Transformation: A Modern Road Trip, Part 1
Procurement Transformation: A Modern Road Trip, Part 1
As we all look back at an excellent summer you might find yourself sitting outside the dressing room while your teenager searches for school clothe…
Benefits of Partnering with a Procurement Consultant
Benefits of Partnering with a Procurement Consultant
Sourcing Achieves Savings for Environmental Services Provider
Sourcing Achieves Savings for Environmental Services Provider
Delivering strategic sourcing savings with the adoption of a
new strategic sourcing model and best-practices training.