Paragon Results offer a completely integrated and intuitive experience across the entire strategic sourcing solution process, enabling customers to clearly understand their spend, successfully define and execute sourcing and supplier management strategies, have clear actionable spend analytics and lock in the value with contract management.
Integrated into your strategic sourcing solution, we can help you to:
- Aggregate and classify all purchases, company-wide
- Gain visibility, segment spend, and identify savings opportunities
- Standardize source-to-contract processes across teams and business units
- Drive materials cost savings and optimization across all spend categories
- Ensure that the savings you negotiate are fully realized
- Increase speed and drive up throughput across your teams
- Reduce risk by finding better suppliers and innovation partners
As businesses manage the complexity arising from globalization, currency and commodity risk and economic uncertainty, the procurement function is expected to be a key contributor to value creation. Among the top priorities for procurement and supply chain, continued focus on cost savings is high on the list. Again our Strategic sourcing solution comes into play as:
- Ensure management review and approval of sourcing plans prior to kick-off
- Mandate by management to use sourcing tool for approved projects, until adoption gains traction
- Team scoring of supplier proposals, to involve stakeholders and achieve objective supplier selection
- Celebrate and communicate wins on cost-savings, supplier participation and other key project success metrics
Over the past 25 years, we have saved about 20% of client total procurement cost while mitigating supply risks. For individual spending categories, we save typically save clients from 5% to 35%, depending upon their business strategy, supply chain dynamics, and past initiatives. We encourage companies start with a due diligent audit assessment to determine their actual earning-impact opportunity.
An introduction to MRO (maintenance, repair, and operations)
The MRO spend category encompasses a multitude of products, services, and suppliers that are crucial to your day-to-day operations. With a large decentralized user base and millions of items and transactions, the MRO spend category has a high opportunity for cost savings.
Top companies develop an MRO sourcing strategy, seize the big opportunities, and overcome implementation challenges. Price related benefits primarily include the unit price reduction of parts but volume discounts, rebates, payment terms improvement are also negotiated based upon long-term contracts.
Contact us to know more about the Mega Regal Opportunities in MRO and other strategic sourcing solutions we offer.