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Published in:
2020 | OriginalPaper | Chapter
Savings: The Right Applications for the Right Spend
Authors : Wolfgang Schnellbächer, Daniel Weise
Published in: Jumpstart to Digital Procurement
Publisher: Springer International Publishing
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Abstract
Let us start at the top of the house. Without a doubt, savings is the most important value dimension for the majority of CPOs. Consequently, it is methods of generating savings that are the most developed among the six value dimensions. Best-in-class companies combine a rigid strategic sourcing approach based on comprehensive category strategies with the right tactical selection of enablers tailored to the specific sourcing situation. For example, successful savings generation may require strong collaboration with business partners to prevent costly over-specifications and unnecessary demand while ensuring that specifications do not limit the supplier landscape.