Five Ways Your Procurement Could Be Leaving Money on the Table
Enterprises that provide their strategic procurement teams with proper tools can expect them to deliver year-over-year cost savings, close to 10 times their expenses. This white paper lists five key pieces of intelligence that enable strategic sourcing professionals be more effective: Total past spend with a given supplier, Total projected spend with a supplier in the future, Total projected demand for parts by product, Key cost drivers in manufactured products, Life cycle dynamics that influence pricing. Having this critical information at their fingertips gives profound leverage on every purchase. For example, this paper describes a real-life negotiation in which this information helped minimize a dramatic price hike attempted by a supplier.