Spectris Case Study

•  9% savings implemented on spend addressed – over £10m annual run rate (cash neutral within 14 months)

•  From 16% to 28% of direct spend sourced in Leading Cost Country within 18 months

•  35%+ savings delivered through Should cost modelling and e-auctions

An 18-month engagement, drawing upon global resources and utilising the most cutting-edge techniques in data management, concluded in a programme that delivered over £10 million in quantifiable benefits. Further savings have been secured through upskilling, sharing methods, processes, and knowledge, ensuring sustainability of procurement savings by embedding it as ‘business as usual’. Perceived limitations and constraints previously assumed within Spectris concerning their ability to operate as a single global company have been extinguished.

The approach to procurement has fundamentally changed with internal alignment on the principles and known advantages of a centralised function. The integrity of data is key. Teams are now equipped with the tools to better understand and interrogate the veracity of business cases – ensuring relevancy to their strategy and introducing a robust and consistent approach to procurement savings.

As important as the delivered savings have been, the long-term future for Spectris has been transformed by a new way of considering the business landscape and a vision for harmonisation within the company.