Guide

Cost Reduction Guide Part 1: Why Opportunity Assessments Matter

Words: Simon Whatson Ben Lambert

At Efficio, we have seen a stark difference between companies’ approaches to cost reduction.

On one hand, some rely on a historic trend to set a target that is mostly used to manage procurement performance; on the other hand, some build a robust target with clear bottom line impact, set in consultation with the business who are bought in to a delivery plan. The difference is that the second group use an Opportunity Assessment to review their spend in a structured effort to build this case.

It’s no surprise that Procurement can unlock much more savings after an Opportunity Assessment – but what are the key ingredients to this launch pad?

Common targets of a Procurement Opportunity Assessment

Cost Reduction

Sustainability

Supply Chain Performance

Operating Model

Post Merger / Separation

New Product / Business Line

Short Term Savings

 

An Opportunity Assessment builds a business case and strong implementation plan, with a clarity on ROI.

This guide is designed to help you get the most out of an Opportunity Assessment – whether it is self-delivered, with a third party, a one off, or part of ongoing opportunity identification efforts.

Download the guide to read more.

Cost Reduction Guide Part 2

Driving excellence through Procurement Transformation

Driving excellence through Procurement Transformation

A Procurement Transformation programme can become a significant low-pain and high-gain contributor to answering internal and external challenges. This guide will help you start your transformation journey.

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