All posts in cost savings

Strategic Cost Reduction for Supply Chain Success

Strategic Cost Reduction for Supply Chain Success – Reduce Spend, Risks & Cost The are many avenues to realizing cost reduction, including the traditional areas of price, delivery, quality, warranty, and payment terms. In this blog, we will explore many other avenues for cost reduction realization. We will examine the methodology and benefits of a big picture, strategic systems thinking…

Read more

How to Manage Spend before it Starts

Managing Spend is a critical part of the Procurement Function. Spending in an ad-hoc manner often results in rush orders, overspend, and excessive inventories. Ensuring a robust, planned, budgeted and technologically equipped process will indeed yield the opposite effect. The following are ways to Manage Spend before it Starts: Leveraging RFQs. Ensuring that all major spend goes through a robust…

Read more

It’s 5 O’Clock. Do You Know Where Your Cost Savings Are?

In procurement, we celebrate the achievement of cost savings.  Like when we conduct strategic sourcing or engage in a negotiation and end up paying a lower price for a product or service than we did last year. Don’t miss updates on Procurement & Supply Chain, Subscribe here! Of course, that’s great.  And, instinctively, we know that our cost savings helps our…

Read more

Fleet Basics

Special thanks to Source One Management Services for this guest post Don’t miss updates on Procurement & Supply Chain, Subscribe here! With volatile cost components like fuel and regionally variable maintenance labor rates, fleet operations can be an intimidating area to source and identify savings while maintaining program consistency. Where does one even start? After conducting multiple fleet sourcing initiatives…

Read more

Why Direct Spend Procurement Cost Savings Matters More

I hope that you enjoyed the article “10 Strategic Procurement Ideas.” Don’t miss updates on Procurement & Supply Chain, Subscribe here! The first idea was “Reduce costs in a way that enables your organization to price its products/services more competitively.” I phrased this point in this manner because it is finally time to address some questions procurement professionals have been…

Read more

->