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Savings: The Right Applications for the Right Spend

In: Jumpstart to Digital Procurement

Author

Listed:
  • Wolfgang Schnellbächer

    (Boston Consulting Group)

  • Daniel Weise

    (Boston Consulting Group)

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.

Suggested Citation

  • Wolfgang Schnellbächer & Daniel Weise, 2020. "Savings: The Right Applications for the Right Spend," Springer Books, in: Jumpstart to Digital Procurement, edition 1, pages 7-26, Springer.
    • Handle: RePEc:spr:sprchp:978-3-030-51984-1_2
    DOI: 10.1007/978-3-030-51984-1_2
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