ATLANTA, GA / ACCESSWIRE / June 17, 2020 / Supply & Demand Chain Executive, the executive’s user manual for successful supply and demand chain transformation, has selected Insight Sourcing Group as a recipient of an SDCE 100 Award for 2020.
The SDCE 100 spotlights successful and innovative projects that deliver bottom-line value to small, medium and large enterprises across the range of supply chain functions. These projects can serve as a map for supply chain executives looking for new opportunities to drive improvement in their own operations. These projects also show how supply chain solution and service providers help their customers and clients achieve supply chain excellence and prepare their supply chains for success.
Insight Sourcing Group received this award as a result of their work on a procurement transformation project for a multi-billion dollar apparel manufacturer and retailer that had a strategic focus on reducing SG&A costs. Historically, the client’s procurement function was a small team managing less than 10% of the total spend. Insight Sourcing Group was engaged to accelerate capture of savings opportunities and elevate the procurement function through a two-month assessment focused on:
- Gaining spend visibility
- Identifying sourcing opportunities and quantifying savings potential
- Performing a gap analysis of current procurement capabilities
- Designing a future state procurement organization to maximize value delivered
- Developing a roadmap to accelerate identified savings and enhance procurement
The assessment identified $40 million in savings opportunities. Insight Sourcing Group was engaged for a second phase to accelerate capture of the first $20 million (across 20 categories), transform the procurement organization, and train the new procurement team members, who were now armed and ready to sustain savings, increase spend under management, and better serve its business partners. Ultimately, other business functions’ perception of procurement changed from “procurement is tactical” to viewing procurement as a strategic partner that they want to engage with.
Of the project, the client’s executive sponsor said “Insight Sourcing Group has been instrumental in our business transformation and has enabled us to become leaner and smarter with our indirect spend. They truly partnered alongside our team to deliver tangible value.”
“Innovation is essential in driving the supply chain industry forward, and thanks to these valuable partnerships, companies of all sizes are able to achieve success in projects that matter,” says Marina Mayer, editor for Supply & Demand Chain Executive. “From business intelligence systems and supply and demand planning to inventory reduction and procurement solutions, the SDCE 100 offers proof-of-concept that with the right planning and execution, anything is possible.”
About Supply & Demand Chain Executive
Supply & Demand Chain Executive is the executive’s user manual for successful supply and demand chain transformation, utilizing hard-hitting analysis, viewpoints and unbiased case studies to steer executives and supply management professionals through the complicated, yet critical, world of supply and demand chain enablement to gain competitive advantage. Visit us at www.SDCExec.com.
About Insight Sourcing Group
Insight Sourcing Group is the leading consulting firm in North America focused exclusively on strategic sourcing and procurement-related services. Founded in 2002, the firm works with senior executives and procurement leaders to accelerate strategic sourcing savings, increase spend visibility, provide ongoing category analytics for savings tracking, and implement procurement best practices. Insight Sourcing Group has worked with hundreds of corporate clients of all sizes and over 50 private equity firms. To learn more, visit insightsourcing.com.
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SOURCE: Insight Sourcing Group
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