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Vikas TyagiPrincipal

Vikas has been with Efficio for 6+ years and has more than 15 years of experience in procurement and cost transformation, strategic sourcing, operational optimisation and IT enablement.

Main areas of practice

Vikas leads Efficio’s procurement operating model practice and has significant experience in the manufacturing and industrial products, retail and consumer goods, travel, leisure, hospitality and utilities sectors. He also works closely with leading private equity players to support portfolio company cost optimisation. Across these sectors, Vikas has worked on multiple assignments in various geographies and led programmes on procurement and cost transformation – both through sustainable procurement operating model improvements and cost transformation assessment and delivery.

Career

Prior to Efficio, Vikas was part of the Operations Consulting Practice at PwC UK and focused on procurement advisory and support for key clients. Before his work in procurement consulting, Vikas completed his MBA from the University of Oxford with specialisation in strategy, finance and operations.
 
A British national, Vikas speaks English and Hindi.

Significant experience

Vikas has successfully managed a large number of projects including:
 
  • Leading UK oil and gas company – Led the review of full procurement operating model and opportunity assessment for a leading oil and gas organization. The review includes full end to end review of the current set up of procurement team, systems, processes and governance framework and developing long term future options for more efficient delivery
  • Large global industrial products organisation – Led the procurement operating model review for a future-fit organisational structure and procurement set up
  • Large UK insurance sector client – Led the assessment and delivery of  recommendation for a fit for purpose target operating model for procurement. This was followed by implementation support for agreed target operating model (working with Procurement leadership) to deliver strategic objectives related to 3rd party and internal cost optimization
  • Leading UK software and services company – Acted as the interim lead for procurement at the client and managed a team for carveout separation and day to day procurement management. Key achievements included delivering significant cost improvement on a number of strategic and tactical contract negotiations, mitigating risks of compliance and operational delivery while supporting the set up of the new procurement team and related processes
  • Leading private equity company – Led the concept and delivery of a rapid cross portfolio savings delivery programme across a set of selected caegories for participating portfolio companies
  • Leading global marine services organisation - Led the assessment and subsequent execution of a multi million programme for procurement optimsation after a PE acquisition. This involved development of a future blueprint for the procurement operating model along with 10%+ EBITDA improvement along multiple spend areas (directs and indirects)
  • Leading global industrial products and engineering organisation – Led a team of 12 consultants to set up and initiate execution of the Directs workstream initiatives (c. €90m spend across multiple complex category groups – raw materials and components) to deliver target savings (c.€9) through strategic sourcing and demand optimisation
  • Leading UK online gaming services providers – Led the delivery of a pre-merger procurement opportunity assessment (savings, operating model and processes) in a clean-room environment for two leading UK gaming services providers. Opportunities relating to c.£25m  annual savings were identified while maintaining data confidentiality
  • Large UK quick service restaurant chain – Led delivery of a margin improvement project for the quick service restaurant chain and identified potential savings of £16m (8%) through improved sourcing, specification review and increased internal utilisation of available resources through a full cost in use analysis for identified areas.
Case study
Separation anxiety: Ensuring successful separation and optimising costs in a carved-out business

A carved-out IT services business engaged Efficio to help them manage the procurement challenges arising from the separation and to support the set-up of a new procurement team, in a challenging timeframe.

Guide
Three key strategies to deploy in a demerger

What is the role of procurement in a demerger? Is it to manage operational risks, reduce costs or both?