cost reduction experts

7 steps to smarter spending

More and more businesses are recognising the benefits of using specialist procurement consultants such as Red Herring. By effectively managing your contracts we ensure ongoing value, innovation and compliance. The results can be far reaching, delivering long-term savings and process improvements across your organisation. 

Using extensive industry knowledge we are well placed to advise on the best options for your requirements and work with a range of suppliers, from regional companies to large organisations. Here’s how we do it:

1. Discover

Identify project scope, including categories involved, key issues and top line expenditure.

2. Audit

A detailed investigation focusing on the potential for cost savings and improvements.

3. Report

Full, objective report outlining current status, identifying savings opportunities, value and recommendations.

4. Decide

Agree next steps, whether continuing with an existing supplier, completing a benchmarking exercise or perhaps moving to tender.

5. Implement

Oversee each step of the approved action, working to agreed timescales.

6. Manage

Proactive management of your contract, from data analysis to regular contract reviews and monitoring of core and non-core compliance.

7. Ongoing

Deliver staff training to ensure that best practice purchasing is maintained across your organisation; review market and product trends to ensure that your supplier delivers best value and innovation.