Spend Optimization Process

Beginning with the Opportunity Assessment, the Spend Optimization Process allows your organization to:

    • Highlight Opportunities
    • Outline Potential Workstreams
    • Provide Foundation for Category-Based Strategic Sourcing

Components of the Spend Optimization Process:

Spend Analysis
Contract Inventory
Organizational Fit
Stakeholder Interviews
Process & System Capabilities
Category Markets
Opportunity Analysis
Team Creation
Scope Determination
Stakeholder Identification & Mapping
Business Requirements Definition
Rank Needs
ID “Quick Wins”
Specification Review & Challenge
Procurement History
Projected Requirements
Market Research
“Should Cost” Modeling
Technology Issues
Marketplace Strengths
Attractiveness to Suppliers
Option Generation, Evaluation, Selection
Risk Analysis
SWOT Mapping
Strategic Source Plan
Benefit Metrics
Implementation Plan
Executive Sign-off
Project Management
Change Management
Tendering the Requirements
Reverse Auctions
Supplier Selection
Contract Creation & Award
Supplier Relationship Management
Performance Measurement
Supplier Reviews
Ideation & Innovation
Waste Reduction
Alignment with Business Requirements

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Ty MurphySpend Optimization Process