Spend Analysis(Creating value/excellence through strategic spending/spend management)
At CostMasters, we use Spend Analysis tool, to analyse the spend scatter, identify cost reduction potentials and suggest supplier consolidation strategies to achieve tangible and intangible cost benefits resulting in lesser TCO (Total Cost of Ownership). Supplier mapping, commodity – location matrix, helps realistic recommendations on supplier consolidation, unveil taxes & freight cost saving potentials.
Why Spend Analysis
- Improved visibility of Spend & Supplier for better / strategic management.
- Commodity Classification & analysis, helps you consolidate the supplier base.
- Supplier Enrichment, in the consolidation process, business increase happens with performing suppliers, enhancing procurement leverage & reduction in overhead / handling costs.
- Identification of Cost saving / reduction potentials along with value addition prepositions.
- The ability to focus on analysis and planning, not gathering and processing data, supported with best practices spend analysis & practical recommendations.
We understand with lean manpower resources & engagement in development related activities, normally it is seen that lot of cost saving opportunities gets ignored. Even if it happens, your valuable time & resources goes in data collection & analysis, being domain experts, we can help you get better, accurate & faster results at less cost. We are fascinated with the efficiency & effectiveness of Spend Visibility tool and would like to use it with you for devising Supplier Management Strategy for your company.