Sustainable expense management programs should be managed to align outcomes with company objectives. Doing so amplifies their impact, strengthens stakeholder and supplier relationships, and provides real savings that can be reinvested as necessary.
In this 5-part special series, Art of Procurement Host Philip Ideson will take you through the keys to running a successful expense management program, pitfalls to look out for, and tactics to cover incumbent supplier management, strategic sourcing, and category management.
In part 4, we focus the tactics you can use to make savings more sustainable:
Through Demand Management
Tighten approval authority levels
Standardize product / service specifications
Reuse products / services
Controls to stop duplicate purchases
At the Category level
Spend / supplier consolidation
Adjust volume mix across multiple suppliers
Substitute products / services
Bottom-up review of critical and non-critical spend.
