There is an old saying: if you cannot measure it, you cannot control it. SourcingStrat is a tool specifically designed to measure total cost in order to better control or reduce it.

SourcingStrat is a web based application that allows you to measure each potential solution (change in products or services) that a supplier offers around all four categories of total cost: revenues, expenditures, processes and asset possession cost. And can be set up to allow suppliers to log on and enter savings opportunities. This not only allows you to have a “pipeline” of additional savings opportunities, but minimizes the work required to identify, measure and track savings as most of the work is performed by your suppliers. Sourcing professionals can then simply review and verify the savings.

The software also provides a wide range of reporting options to help you demonstrate the savings you achieved through your suppliers and work with your internal customers to make sound financial decisions for your company. The reports can be used to help you during business reviews, negotiations, management reviews and more. Some of the more popular report options include both charts and tables of the total cost savings achieved over any timeframe you select, by location, commodity/service group and even objectives (by supplier or across suppliers).

Additionally, you can set savings goals by supplier and/or contract, and run reports over any timeframe to see if they are meeting these goals. Bottom line: We take the guess work out of the measurement process and help you to achieve your savings goals.