We understand that cost reduction is about delivering results and meeting targets, quickly.
You need us to move at speed and practically – implementing changes that will have a significant, lasting impact on both profit and cash-flow. We deliver cost reduction programmes around the world from the USA to China and across Europe. We take a logical approach to implementing cost reduction programmes and present recommendations in logical, understandable language, as well as rolling our sleeves up to ensure the changes actually happen.
We draw on a wide range of specialist knowledge and sector-specific experience, as well as our bespoke software solutions, to develop a tailored cost reduction programme for your unique business. Our programmes typically have three phases – assess, deliver, up skill.
To start with, we take a look at your external spend, your organisation process and systems so that we can, supported by your team and our analysis software, identify specific areas for cost reduction as well as potential supply chain risk. We look out for quick wins as well as longer-term opportunities that could form the basis of a structured plan of activities over the coming weeks and months to deliver the benefits. This often means considering the development of detailed category strategies or looking at the best geographic location for sourcing. We look across the full range of procurement levers, such as strategic sourcing, low cost country sourcing, should cost modelling and inflation management processes, all of which help manage and reduce cost but also lead to reduced supply chain risk.
Once the plan is agreed, we move swiftly to save you money. That means ensuring that we are working alongside you to initially implement the quick cost reduction wins identified. We then move on to bigger and longer term cost saving opportunities as well as starting to work with you on the strategic, organisational, process and system change to ensure lasting success. This may mean changing your operational model, training up the procurement team and setting out clear best practice guidelines, tools and procedures for procurement. Upon completion, we will ensure that we have put in place some return on investment measures to assess the investment and overall cost reduction success.
"By working with Vendigital, we've made some dramatic improvements in our procurement processes."