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.
100% Financial visibility on the spend
Clear path forward on how to achieve savings and by when
Plan of attack, including project schedule and required resources