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The Benefits of Optimization

When I was growing up, we had shortcuts to our friends houses in the neighborhood. There was a well worn path through the backyards. Grass did not have a chance of ever growing!!

Everyone loves the benefits of shortcuts. Easier and faster! This week's esourcing Wiki is about the benefits of utilizing optimization. A fancy word for shortcut!

Optimization can save time and money. Who wouldn't want that! Studies show that double digit savings are consistently done with this technology. The cycle time for negotiation is also considerably shorter, cutting down from months to weeks. That too is saving organizations money! 

It also outlines some areas to be aware of. We can be so enthralled with the shortcut that we don't pay attention to the preparation work and keeping the entire team on board. The optimization tool is not a replacement for a structured sourcing process, outlining requirements, keeping stakeholders on board and doing the proper evaluation of the suppliers' capabilities.

Trying to do all that analysis without the technology feels like you are in a maze. Forget about anything as wonderful as a shortcut!

What has been your experience? Are the double digit savings there? Have you found this to be your shortcut?

Keep on moving
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Friday, 07 August 2020

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