Cost Reduction Strategies

07 Mar, 2024

Cost Reduction

Combining high end strategic procurement consulting with operational leadership, to ensure results

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Cost Reduction Program

Our procurement Cost Reduction program is rooted in strategic cost reduction initiatives designed to deliver significant bottom-line impact through savings for your entire organization. With a track record of achieving annual cost savings of up to 30% and optimizing net working capital for our clients. We are committed to transforming your procurement operations and reducing costs. Our engagement model is based on results – No Cure No Pay. This commitment extends to deploying innovative cost saving strategies in procurement and ensuring their tangible and sustainable results.


Achieve your cost reduction goals with our powerful modular Cost Reduction Program.

Commence with a comprehensive opportunity assessment. Our experts will analyze your procurement data to reveal potential cost-saving opportunities. This data fuels actionable insights on spending, CO2, and risks, elevating decision-making. Our global spend visibility fosters strategic choices and cultivates savings opportunities.


Work with us to create a category strategy with bold and achievable initiatives. Our collaborative approach ensures that the strategy aligns with your corporate procurement strategy and objectives, driving maximum cost reductions.


Implement the action plan through RFPs, negotiations, and auctions to achieve cost savings. We will arrange supplier days on your behalf. This established event format aims to enhance relationships with key suppliers, boost their involvement, and collectively generate value-added initiatives aligned with your company’s strategy.


SC is all about results and has a strong track record in achieving significant savings.  We track the progress and final results of all savings initiatives with our savings tracking methodology and digital system.  We build a strong implementation plan and execute. We go beyond to ensure real savings for your company.


Cost Reduction is an ambitious transformational program, where change management will be key to success. Our expert PMO team facilitates this transformation with just the right amount of communication, training, governance, onboarding, hands-on support and coaching to drive maximum adoption and value creation.

The planning and execution of the program entails weekly progress sessions, management reports, Q&A sessions, and cross-functional alignment as well as coaching and mentoring sessions. Clear reporting structures and a robust governance model — including top management buy in — guarantee the success of your program.


Capture value with best-of-breed digital solutions that help you on your procurement analysis, run your sourcing events, build your category strategy and track your initiatives. Scroll further below to familiarize yourself with our partner digital solutions.


These programs are designed to be flexible, accommodating a bespoke approach tailored to your organization’s needs. Depending on your requirements, the programs typically take between 12 to 16 weeks to complete.


Ready to unlock the potential for significant cost savings? Take the first step by scheduling an opportunity assessment. Our experts are eager to help you identify untapped savings and develop a procurement strategy that drives bottom-line impact. Contact us now to get started on your cost reduction journey.

1- Opportunity Assessment

Embark on your cost reduction journey by conducting a thorough and efficient opportunity assessment. Our experienced team of experts will meticulously analyze your procurement categories and spending data, unveiling areas with untapped potential for improvement and identifying hidden cost-saving opportunities. Leveraging the power of our cutting-edge digital solutions, Ignite for spend analysis and Valuedesk for initiative tracking, we harness vast amounts of data to provide you with valuable insights and actionable recommendations. By gaining a comprehensive understanding of your current procurement operations, you can make informed decisions and drive significant cost reductions. Our streamlined approach, bolstered by advanced technology, ensures that no opportunity goes unnoticed, enabling you to optimize your procurement processes, enhance efficiency, and achieve sustainable bottom-line savings. Kickstart your cost reduction efforts with our comprehensive opportunity assessment and unlock your organization’s full potential.

“Increase profits, cut waste and boost spending efficiency.”

2- Category Strategy Development

Partner with us to develop a robust category strategy that includes bold and achievable initiatives. Our collaborative approach ensures that the strategy aligns seamlessly with your corporate procurement strategy and objectives, enabling you to maximize cost reductions. With the help of our digital solution, Cirtuo, we streamline the strategy development process, incorporating market intelligence, supplier insights, and performance metrics. By leveraging technology and expertise, we empower you to make strategic decisions that optimize costs and enhance overall procurement efficiency.


3- Drive Initiatives

Execute your cost reduction action plan with precision through RFPs, negotiations, and auctions. Our team will guide you through the process, leveraging our digital solution, Promena, to streamline supplier discovery, evaluation, and selection. With advanced RFQ and strategic sourcing capabilities, we optimize your procurement processes, enabling you to capture value and negotiate favorable terms. By embracing digital solutions, we enhance transparency, efficiency, and competitiveness, driving successful cost-saving initiatives across your organization.


4- Result Tracking

Designed with a strong emphasis on flexibility, our programs can be tailored to meet your organization’s unique needs. Depending on the complexity and scope, our programs typically last 12 to 16 weeks. This timeframe has been designed to deliver comprehensive transformation while accommodating your operational realities.

Our engagement model is firmly rooted in results, as we abide by the “No Cure, No Pay” principle. In other words, our success is intrinsically linked to yours. Going beyond the mere cost reduction measures, we aspire to cultivate a culture of efficiency and innovation within your organization. To achieve this, our expert team will work closely with you to transfer knowledge, build capabilities, and lay a robust foundation for long-term success.


5- Change Management, PMO & Coaching

Change management is a cornerstone of a successful cost reduction program. Serving as your dedicated partner, our PMO team ensures maximum adoption and value through well-coordinated activities. Weekly progress sessions allow us to monitor and guide the program’s advancement, complemented by management reports offering insights. Additionally, we facilitate Q&A sessions for open communication and addressing concerns throughout the program. Cross-functional alignment enhances synergy, ensuring program alignment with your broader objectives. Our coaching and mentoring sessions empower individuals to navigate the transformation effectively. Lastly, we’ve established clear reporting structures and a robust governance model, including securing top management buy-in, to deliver substantial cost reductions and added value to your organization.


6- Digital Solutions

Achieve procurement excellence with our best-of-breed digital solutions that empower you at every stage of the cost reduction program. From procurement analysis and sourcing events to category strategy development and initiative tracking, our suite of tools, including IgniteValueDeskCirtuoand Promena, provide the necessary capabilities to drive results. By harnessing the power of data, automation, and advanced features, you gain a competitive edge, optimize decision-making, and capture maximum value throughout your cost reduction journey.


Cost Reduction Consulting

Elevate your cost reduction endeavors with our specialized Cost Reduction Consultancy services. With years of experience and deep expertise in cost reduction, our consultants will bring a wealth of expertise to transform your procurement operations, all based on a “No Cure, No Pay” engagement model. Leveraging cutting-edge digital solutions, our consultants and cost reduction specialists conduct a thorough opportunity assessment, unveiling hidden potential and providing actionable insights for sustainable bottom-line savings. From Category Strategy Development to executing cost reduction action plans with precision through RFPs and negotiations, our comprehensive approach ensures holistic transformation over a flexible 12 to 16-week timeframe. Partner with us to navigate change effectively, harness the power of digital solutions, and achieve substantial cost reductions.


Cost Reduction

17 May, 2023

How to achieve significant bottom-line impact through strategic sourcing & digitalization?

At Sourcing Champions, we understand the challenges that organizations face in terms of cost reduction, and we are dedicated to helping you achieve your desired results. We have custom-made strategic sourcing programs and managed services to bring you to your desired results. To bring you the best we’ve partnered with Promena, a best-in-class sourcing and auction software. Together, we can help you achieve significant bottom-line impact through procurement savings.

We start by conducting a detailed analysis and opportunity assessment to identify where substantial improvements can be realized. Then, we work with you to create a procurement strategy with bold and achievable initiatives. To drive these initiatives, we employ robust solutions, such as “E-Sourcing” and “Supplier Relationship Management”, and involve services from Promena‘s team.

With our guidance and expertise, you’ll gain the knowledge and understanding necessary to capture the value within your organization.

Need our support? Just give us a call. Let us help you achieve your cost reduction goals, together.

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