– Hello readers,
Wow, time flies!! I cannot believe it's been months since my last update! Much has happened since then. I've been working another sourcing transformation project - this time in beautiful Boston! Together with a great team of four associates, we helped our client source a number of high value categories that were pretty tricky. Many of them involved services like plumbers and electricians, and given the client's business, spend was fragmented across a lot of states, counties, and locations. After a lot of very busy data gathering, we were able to use one of our procurement practice's third party vendors to run a quite complex sourcing event.
It's great that as a firm we have access to a lot of very specialized resources and tools that come in handy in these situations. Instead of having to run all analytics in Excel (and spending days modeling very complex optimization scenarios), the tool would help with these analyses and allow us to spend more time with the clients to prepare them for the vendor negotiations. A great trade-off I think :)
Purchasing studies are interesting and rewarding because they can be win-win for both clients and their vendors. By helping the clients become more sophisticated in how they consolidate spend and order goods, they can work much more efficiently with vendors while reducing overall spend in the process. The generated savings can then be used to invest in new strategies and growth for the client—in fact, McKinsey teams often work side-by-side, with one team focusing on collaborating with the purchasing department and the other team collaborating with the strategy department.
Well, we've now successfully wrapped up this client engagement, and I am very much looking forward to spend the Thanksgiving holiday with my boyfriend to relax and recharge.
Happy Thanksgiving to you all!