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Opportunity Assessment 

dollarcubeUnderstanding how to identify future procurement opportunities can be difficult.

With operational pressures, regulatory requirements, changing supplier markets, challenging business conditions and limited resources, you already have your work cut out.

Whether you want to find ways of managing costs, cash or optimising supplier performance - conducting a formal opportunity assessment can be a powerful catalyst to help you improve.

iProcure Solutions has experience of assessing the overall performance of a procurement function as well as using different spend analysis techniques to uncover potential opportunities for managing your spend and suppliers in a better way.

Often conducted as part of a wider strategic review, the results of an opportunity assessment can be used to

  • Refocus and prioritise existing resources.
  • Identify quick wins and define workstreams that can drive further improvement in the long term.
  • Introduce new processes and techniques that can be introduced to drive additional benefit.
  • Provide clarity on how to deal with existing constraints that are slowing down benefit realisation.

 

Process Steps

Carrying out an opportunity assessment consists of conducting a number of separate analyses organised into four project phases.

  1. Understand existing spend dimensions and organisational capability.
  2. Validate business requirements, contractual positions and understand constraints.
  3. Prioritise profit opportunities.
  4. Define implementation plans.

(Read about one of our case studies, where one element of opportunity assessment - spend analysis - was used to kickstart a £80M global indirect spend management programme). 

To find out more, please get in touch with us using our contact form or call Paul Kimber on +44(0)781 484 0133.