Opportunity assessment is the key to a wide range of procurement improvement activities because a thorough analysis of historical spend data is the backbone of any strategic sourcing solution.
To identify saving opportunities, our Standard Keys procurement experts conduct a detailed review of the existing sourcing processes in collaboration with all the business stakeholders including higher management, procurement teams, and suppliers. This leads to setting long-term savings roadmap for the organization.
Standard Keys provides spend analysis services to leading procurement organizations, helping clients identify and realize millions in savings every year.
How will an opportunity assessment help?
An opportunity assessment can help you recognize where a step-change can be made to improve procurement performance. It will help you answer the following questions:
What are we spending money on?
How mature are we in each spending category?
What is the possibility of further cost reduction or value creation?
How would we reduce costs and create value?
How prepared is the procurement organization, and the tools and systems it uses, to create value? Where is reinforcing required?
What will we deliver?
An accurate spend analysis
A full category-by-category analysis of where you stand today, with estimates of available savings.
A benchmark of your organization against our Procurement Effectiveness Model
We rank your performance along that of comparable and competitor organizations
An Implementation Plan
A comprehensive practical roadmap for change and for achieving target savings and value