“The real benefit of quick wins is to get the ball rolling. Procurement can take a small set of spend and turn around a good savings percentage within a month or two. Even if it’s a small dollar amount, we’re starting to build up credibility within our companies, paving the way for longer term opportunities.”
While the challenges of COVID-19 aren’t completely behind us, many organizations are starting to look ahead to what’s next. For many procurement teams, that means identifying and defining quick wins from a cost savings or expense reduction perspective.
Brian Seipel is a Consultant and Spend Analysis Lead at Corcentric, where he helps organizations perfect their strategic sourcing abilities, manage supplier relationships, and clear away process roadblocks. We asked him about his advice about getting quick wins (that are actually quick) without alienating suppliers or stakeholders.
In this interview, Brian Seipel tells Philip Ideson and Kelly Barner:
- [10:02] Why the most immediate barrier to quick wins might be the taxonomy being used to categorize spend
- [18:01] How procurement can combine internal and external opportunities to maximize spend efficiency
- [24:44] What steps procurement can take to control the ‘optics’ of quick win sourcing and spend management projects