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Webcast: Create bottom line impact by managing tail spend

Join our webcast to learn how chemical companies are now able to extract large savings from the long tail.

Many chemical companies have already optimized procurement of their raw materials, which is typically the primary focus for procurement departments. However, the smaller spend—usually the bottom 25% or the “tail”—is often undermanaged and not structurally addressed due to fragmentation, complexity, and lack of data. Due to recent technology, such as automation or advanced procurement tools, it is now possible to tackle this often-overlooked spend bucket and generate major benefits, including cost savings and supplier base consolidation.

To learn more, please join our one-hour webcast on October 23 or 25. We’ll discuss successful approaches to tail spend management, the latest tools, and the positive impact that can be realized by focusing on tail spend. In addition, we will present some real examples of how chemicals players are currently driving savings through analytics-enabled tail spend management.

Sessions

  • October 23 – 9:00 am CET
  • October 25 – 3:00 pm CET

About the presenters

Partner, Cologne

Theo Jan Simons

Theo Jan works with petrochemical and downstream companies on strategy and portfolio management, performance transformation, M&A, and growth. In his more than 20 years of consulting experience, he has offered support to a broad range of companies in the chemicals and energy sectors. Theo Jan also leads McKinsey on Chemicals, a McKinsey publication that explores the changing chemicals landscape.
Associate Partner, Munich

Marc Sommerer

Marc advises leaders in the chemicals, basic materials, and other industrial sectors on functional excellence, merger/divestiture, and procurement topics. In procurement, Marc has helped chemical companies create sustainable value by optimizing their strategic raw materials through collaboration and analytics, as well as their smaller raw materials (“tail”) through digitally enabled mass tendering approaches.
Partner, Frankfurt

Mauro Erriquez

Mauro’s core area of expertise lies in operations—particularly purchasing, supply chain, and manufacturing—and he has over 12 years of experience at McKinsey. He also has extensive experience in procurement digitalization across industries, especially the automotive, manufacturing, and chemicals industries. Mauro leads our Product Development and Procurement service line, as well as our Source-to-Pay service line.
Engagement Manager, Milan

Fabio Russo

Fabio’s functional specialty is operations, focusing on the procurement operating model and procurement transformations. His main areas of expertise within the operating model are procurement organization redesign and digital procurement. Fabio has a strong background in the automotive and cable industries, both on direct and indirect spend.