Uncovered Indirect Spend v8

Strategic Sourcing Success: Optimizing Indirect Spend Transforms Companies

In the Uncover Indirect Spend and Record Lost Profit webinar, we learned how implementing new technology changed one organization’s approach to shrink-wrapping pallets on the loading dock. Better materials meant less use of plastic resin. There is a ripple effect from new materials: lower weights and volumes of resin; lower costs from using less of the better materials; less storage space required and more effective packaging. Imagine capturing the benefits of new technologies and new offerings from suppliers and the ripple effects it could have on your company. Strategic sourcing goes beyond buying for today based on price. It extends to researching and securing alternative products and services with higher, long-term value to the company. Beyond our plastic resin example, businesses know that changes in technology, regulation and markets alter the playing field for the company and that its ability to adapt to lower-cost and better-performing solutions is critical to success.

By combining tactical procurement processes and strategic sourcing, companies realize up to

10% savings in Indirect Spend that goes to the bottom line. As companies improve buying processes and view supplier relationships over a longer term, the value of these relationships

goes up along with the benefit to the company.

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