Optimizing purchasing and supply chain for corporate success.
Total Cost of Ownership
In the age of globalization of purchasing processes and a constantly growing number of market participants, selecting the right sourcing strategies is becoming more and more critical for companies. For a long time now, strategic purchasing has not dealt solely with the procurement of materials for production and assembly. Instead, knowledge of foreign markets and the development of relationships with their own suppliers are increasingly becoming the focus of companies.
The aim here is to plan the company’s future development and benefit from long-term partnerships with the right suppliers. Therefore, we at ifp consulting are happy to support you in introducing a TCO (Total Cost of Ownership) assessment as a basis for decision-making for your company. The TCO concept helps you in the cost evaluation of alternative awarding contracts based on weighted cost factors and thus offers a detailed basis for decision-making, even for long-term investment decisions.
We will support you with the sourcing strategy
- TCO consideration (Total Cost of Ownership)
- Input data analysis (procurement goods analysis)
- Market research and selection of procurement markets
- Definition of procurement strategies
- Deriving global sourcing potential
- Organization of tenders
- Supplier audits
Why is this topic so important?
The right selection of procurement markets, channels, and suppliers is increasingly becoming a competitive advantage for companies. Regardless of whether local or global sourcing, the increasing cost and time pressure, the high-advance performance quota in the manufacturing industry, as well as the advancing globalization and internationalization, present significant challenges for purchasing and supply chain management.
It is essential for companies to fully exploit the possibilities of digitizing purchasing processes that already exist today. The aim should be to eliminate inefficiencies caused by a lack of integrated digitization and thus to use the industrialization and digitization of the purchasing department.
Optimizing purchasing and supply chain for corporate success
What are our objectives?
The objective of a good sourcing strategy is:
It ensures your company favourable long-term conditions to be able to purchase high quality at reasonable costs. When developing sourcing concepts, you have a large number of different design dimensions open to you.
Since strategic sourcing goes far beyond the mere process of material procurement, ifp consulting supports you as a competent partner in identifying the right sourcing strategies for your company. In addition, we work with you to develop strategies best suited to your company.
This means that you can not only reduce costs but also achieve better supplier services in order to increase the company’s long-term success. A high level of expertise, modern sourcing concepts, many years of experience and specialized employees guarantee your company’s success.
Inventory optimization through the development of procurement strategies
ifp consulting supported an international group in optimizing its inventory and warehouse structure. First, an extensive planning database was set up, which enabled the creation of the database for extensive analyzes.
As part of the analysis, a model was created to simulate the course of the inventory, with which inventory and parking space-intensive clusters could particularly be identified. The clusters were examined according to goods and disposition groups, classification features (ABC, XYZ, etc.), as well as procurement and purchasing criteria (e.g. lead time, replenishment time, minimum purchase quantities or safety stocks), and individual procurement strategies were derived for the potential clusters.
Thanks to the identified potential, the planned growth in the past few years could be achieved without additional expansion of the warehouse logistics, and the area productivity increased at the location.
Factors of success
What are the main weak points in the purchasing process?
The lack of transparency in the processes and the lack of digital interfaces.
With the implementation of a successful sourcing strategy, you can overcome these challenges in your company, optimize the internal workflow and reduce costs in the long term.