Reduce Procurement Costs

Every organization is struggling to sustain and increase their bottom line. One of the very important factors to be considered for healthy profitability is to keep the procurement costs as optimized as possible. Cost optimization should always be a long-term strategy aimed at increasing business performance, rather than a short-sighted kneejerk move, which increases risks and end up costing the organization much more in the longterm.

For the Supply chain group in a company, procurement cost reduction and spend analytics continue to be strong business priorities. There are many ways to efficiently manage the procurement costs efficiently, and Enventure provides a host of services to enable organizations to reduce costs:

  • Audit the current procurement process to identify inefficiencies and pave the way for transformation and improvement
  • Review the materials and supplier database, standardize and consolidate purchase
  • Strategic sourcing support to identify lower cost alternate materials or parts from new or existing suppliers, without compromising on quality or design
  • Low Cost Country Sourcing (LCCS), to identify high quality vendors from Asia or other global locations
  • Deep dive into historical spend data and develop strategies for procurement cost savings
  • Leveraging our many years of supply chain expertise, implement best practices and benchmark against successful organisations

Enventure’s Procurement Support Services can transform your supply chain and ensure the procurement function is very agile and efficient. Our services enable real-time visibility into your inventory data and help leaders make informed strategic decisions.

Our 3-Phase process approach enables clients to strategize the procurement function while eliminating the inefficiencies and reducing overall procurement costs.

Consult

  • Gap analysis
  • Interview stakeholders
  • Develop procurement roadmap
  • Risk mitigation strategies
  • Industry benchmarking

Implement

  • Spend analytics
  • Purchase consolidation
  • Technology and process
  • Vendor optimization
  • Master data harmonization

Implement

  • Master data governance
  • Spend forecasting
  • Predictive analytics
  • Vendor on-boarding
  • Vendor evaluation
cost-reduction
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