Procurement and Sourcing
Procurement and sourcing improvements often have greater impact than any other profit lever under management's control. Defined as the activity of acquiring materials, goods, and services that sustain organizations, procurement and sourcing includes all aspects of the purchase to pay process, strategic sourcing, supplier management and supplier collaboration.
Strategic Sourcing is focused on gaining better company wide leverage of purchasing spend, a systematic process focused on reducing the total cost of externally purchased materials, goods, and services while maintaining or improving service levels. It helps you to:
- Leverage purchasing power across business units and negotiate favorable unit pricing
- Consolidate your supplier base and form alliances with preferred suppliers
- Review standards and modify procedures and policies for more efficient purchasing
- Explore alternative purchasing arrangements
Our Procurement and Sourcing solutions have helped companies like yours to:
- Improve spend leverage and direct material cost reductions
- Simplify procurement through common value-driven strategies, processes and systems
- Drive continuous improvements through training and performance measures
- Raise the visibility and value of procurement
- Reduce internal labor by 5 to 20 percent
- Improve purchasing controls and indirect material costs
Learn more about our knowledge and success with Procurement and Sourcing.