Services
Spend Assessment & Procurement Spend Analysis
We help manufacturers uncover savings opportunities through structured spend analysis, data normalization, and sourcing visibility.
SourcingIQ’s spend assessment helps manufacturing companies identify sourcing opportunities, improve spend visibility, and create a clear roadmap for procurement value creation.
Through structured procurement spend analysis, we uncover inefficiencies, normalize fragmented data, and prioritize the most practical opportunities to implement.
As we find the money, we can uncover inefficiencies, unleveraged spend, lack of negotiation and other opportunities to create savings. We leave you with those opportunities and a plan for implementation without inflating numbers.
Another integral benefit of the spend assessment is the normalizing of your data. We all know these categorizations and colloquialisms can happen over time.
Just as there are a variety of words for an every day Coca-cola – pop, soda, coke… There can be infinite ways to categorize direct materials. We put your terminology into industry standard language so you can not only know what parts or materials you’re sourcing but also their lead times and where they come from.
Speaking of where things come from, we don’t just stop at where the item was purchased but trace it all the way to where it is made. This provides even more clarity and foresight for market conditions and opportunities for improvement and savings.
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