COVID-19: A Wake-up Call for Procurement Cost Analysis | Quantzig
LONDON–(BUSINESS WIRE)–Quantzig, a premier data analytics and advisory firm, reframed its portfolio of procurement cost analysis. Quantzig’s portfolio fuels businesses across the globe to deal with upheavals arising due to the coronavirus outbreak.
View Quantzig’s comprehensive portfolio of procurement cost analysis solutions here: https://bit.ly/2WRG1Hh
Innovation is the key of successful procurement, which is the cornerstone for success of businesses, and it ensures business continuity during difficult times. Often organizations are subjected to supply chain disruptions due to unforeseen circumstances. The latest being the pandemic COVID-19. In a crisis period, procurement teams often look forward to adopting cost-cutting measures on indirect spend to combat the impact of a global meltdown such as COVID-19. But we suggest establishing a strong relationship between the procurement team and business partners which can, in turn, enable significant spending influence.
According to Quantzig’s procurement cost analysis experts, “Procurement teams should step up and take the lead in providing strategic insights and steering the organization through this black swan event by adopting innovative procurement cost optimization solutions.”
With over a decade’s experience in catering to the unique needs of clients from various sectors, we possess the skills and domain expertise to help businesses navigate the crisis. Request FREE Proposal to learn how we can help you build analytics-driven action plans to stabilize operations and ensure business continuity.
Rethink pricing strategies and boost savings with procurement cost optimization solutions
Custom-built dashboards combined with meticulous attention to detail provides a unique ability to forge lasting partnerships, the kind it takes to deliver end results that are both measurable and sustainable. Quantzig’s advanced analytics-based services can help you drive efficiency, improve profitability, and provide a procurement cost optimization model bespoke to you.
Steps to Conduct Procurement Cost Analysis
- Consolidate spend data
- Standardize data
- Segment the supplier base
- Categorize expenses
Benefits of Procurement Cost Analysis
- Direct savings
- Clear understanding of spend
- Risk management
Today it’s crucial to invest in analytical solutions to find the right mix of strategies to enhance supply chain efficiency. With the right mix of flexible operating models and advanced analytical tools, businesses can not only strengthen their market position but also emerge successfully from the crisis. Schedule a FREE demo to learn more about our supply chain analytics capabilities.
Quantzig’s Supply Chain Analytics Solutions
We offer innovative supply chain analytics solutions to help you analyze, integrate, and utilize supply chain data to gain critical insights into supply chain processes and factors impacting supply chain efficiency.
- Demand and Capacity Planning
- Procurement Cost Optimization
- Working Capital Management
- Spend Analytics
Speak to an analyst to discover how procurement cost analysis strategies can help you enhance supplier management.
Quantzig is a global analytics and advisory firm with offices in the US, UK, Canada, China, and India. For more than 15 years, we have assisted our clients across the globe with end-to-end data modeling capabilities to leverage analytics for prudent decision making. Today, our firm consists of 120+ clients, including 45 Fortune 500 companies. For more information on our engagement policies and pricing plans, visit: https://www.quantzig.com/request-for-proposal