Spend Assessment
Actionable Roadmap to Savings Acceleration
Spend Assessments are the ideal starting point for any organization looking to achieve their savings objectives. Assessments provide executives with an actionable roadmap for cost savings and procurement optimization in eight weeks or less.
Our Spend Assessment Approach
Our spend assessment process begins with spend visibility. We collect and consolidate data from all relevant systems and categorize it to create a procurement-focused spend database. We then conduct a series of interviews and contract reviews to learn more about historical procurement practices of your organization. Finally, we develop a detailed execution plan that includes prioritized sourcing targets, realistic savings goals, and specific plans to achieve them.
Analysis
Collect Spend Data
Normalize Vendors
Map Influence
Conduct Interviews
Review Contracts & Invoices
Develop Category Profiles
Conduct Current State Workshops
Benchmark Procurement Maturity
Determine Future State Vision
Roadmap
Prioritize Categories
Develop Sourcing Wave Plan
Build Execution Plan
Spend Assessments 101
An Executive’s Guide to Developing a Savings Acceleration Roadmap.
Spend Assessment Success Stories
The following is a collection of client success stories showing the Value Identified by our Spend Assessment process, and the Value Delivered in the follow-on Strategic Sourcing and Procurement Transformation work these clients engaged our firm for.
Client
Value Identified via Assessment
Value Delivered
$5B Global Apparel Company
Footwear, Sports, and Casual Apparel
Fortune 500 CPG Company
Branded & Private Label Food Products
$3B Building Products Manufacturer
OSB, Siding, & Engineered Wood Products
$3B Global Apparel Company
Athletic Wear & Lifestyle Clothing
$700M Furniture Retailer
Furniture & Bedding Products
$40 million
in Savings Opportunity
$27 million
in Savings Opportunity
$28 million
in Savings Opportunity
$36 million
in Savings Opportunity
$21 million
in Savings Opportunity
- $16 million savings captured in Wave 1
- Built world-class procurement team
- Implemented leading spend analytics solution
- $15 million savings captured in Wave 1
- Implemented technologies and processes to track / sustain savings
- $13 million savings captured in Wave 1
- Transformed Procurement function through redesign, recruiting, and training
- $13 million savings captured in Wave 1
- Transformed Procurement through redesign, recruiting, and training
- $7 million savings captured in Wave 1
- Established processes and reporting to track savings to P&L
