What is Opportunity Assessment (OA)?
Opportunity Assessment is the “best practice” process for identifying and prioritizing added business value and cost saving opportunities to build the case for change and develop excellence in procurement either at a category level or at a more strategic enterprise level.
Opportunity Assessment starts with your spend data, conducts an analysis and uses the results to perform a diagnostic. This incorporates financial as wells as all the non-financial information that is required to make informed business decisions such as:
- Category governance
- Supply market dynamics
- Business risk
- Key contract considerations
- Supply management influence
The diagnostic provides the information necessary for the prioritization of value creation initiatives.
Opportunity Assessment – Output:
The spend analysis and diagnostic results should be considered simultaneously when generating the final prioritization for the value creation initiatives. Typical opportunities highlighted include:
- Cost savings
- Cost avoidance
- Risk mitigation
The final OA output will provide a comprehensive view of your external spend, allowing you to priortize your value creation initiatives based on what is most important to your business.
Working with you:
By working directly with your staff responsible for committing expenditure, managing suppliers, or who influence key purchasing policies and decision; we will carry out a rigorous review using proven tools and methodologies to present our recommendations.
To take a strategic view of your expenditures and translate opportunities into tangible and meaningful activities to support and add maximum value to your organization’s business objectives.