Increased Speed-to-Value Through Rapid Sourcing and Training
The company wanted to increase service levels by reducing the supplier base, leveraging its volume to reduce overall spending, and increasing spending on contract. Managers needed to become self-sufficient in a process that was practical and sized to the organization’s industry. We worked with leadership to source a category of spending, using our rapid sourcing process to rationalize supplier base, increase numbers of suppliers on contract, and realize savings. We also developed a category prioritization model for selecting future categories, and trained sourcing managers and the leadership team on the new process. In the first phase of the project, we helped identify a significant amount in annual single category savings and established new contractual relationships. We also increased category spending on contract.