Annual Opportunity Analysis Refresh
Sourcing organizations need to identify projects that will deliver top line revenue growth and bottom line savings every year. As the ‘low hanging fruit’ opportunities are captured, the challenge is to identify radical breakthrough projects that refill the pipeline.
MarketSpend has developed an efficient process and tools for year-after-year assessment of current state, alignment with business strategies and identification of breakthrough projects. |
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Opportunity & Value Analysis
The strategic business plan begins with an Opportunity Analysis. This allows you to gain a deep understanding of the company’s strategic imperatives and business drivers, in order to align the sourcing department's goals and priorities. The analysis will help you to:
- Conduct Voice of the Business Partner interviews to understand business current and future strategies and challenges.
- Meet internally and with business partners to gain a candid perspective of sourcing skills, assess the state of each category from multiple perspectives.
- Determine where the company is in its business cycle and maturity (i.e., mature business models may have a broader need for internal efficiencies and external supplier savings)
- Assess the current state within the sourcing group, each category and business function.
- Analyze all third party external spend across the company.
- Map internal business process and external value and supply chain.
- Systematically identify and rank risks associated with decision, design or process, in order to understand the cause and effects of a failure.
- Align spend categories along supply market capabilities and business/function lines.
- Analyze opportunities to optimize by spend category.
- Develop compelling business cases for change.
- Outline the Return on Investment (ROI) for Senior Management.
- Complete an Opportunity Analysis report and 3-year plan aligned with business strategies. Categories/initiatives are identified based on prioritized ranking and available resources.
- Incorporate the analysis into future state mission, vision and the sourcing Strategic Business Plan.
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