The global economy and supply chain dynamics are presenting significant opportunities in procurement and sourcing. Companies are adjusting to the new normal, driven by factors such as the COVID-19 virus, which has strained organizations and necessitated changes in supply and demand models. Procurement and sourcing professionals are facing immediate challenges related to inventories, delivery, changing sources of supply, and pricing dynamics unseen in decades.

 

Synergomax offers customised solutions through dedicated sourcing resources, industry-experienced operators, and subject matter experts. With over 20 years of experience, our procurement and sourcing practice delivers results driven by:

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Deep Sourcing Expertise:

• Process and category experts, including senior procurement leaders.

• Direct and indirect category experts covering commodities, raw materials, and customized solutions.

• Access to internal and external subject matter experts.

• Expertise in make vs. buy and insource vs. outsource decisions.

• Experience in low-cost country sourcing.

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Ability to Identify and Capture Savings:

• Track record of realizing savings worth millions of dollars across hundreds of projects and various commodities.

• Every dollar saved contributes to improved EBITDA and valuation increases.

• Focus on sustainable improvements that continue to benefit the organization beyond project completion.

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Synergomax Procurement & Sourcing Program: Our typical program consists of three phases:

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Assessment & Spend Diagnostic Phase:

• Evaluate spend magnitude within a single company or across the enterprise.

• Identify savings opportunities, improvement areas, and timeline.

• Key assessments include strategic sourcing capability, contract review, vendor-managed inventory, spend diagnostics, make vs. buy process maturity, supplier qualification process, performance management review, and more.

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Implementation & Category Sourcing Phase:

• Focus on improving targeted spend categories and addressing identified process and organizational gaps.

• Utilise industry-specific solutions based on 20 years of sourcing and procurement expertise.

• Workstreams encompass interim management, strategic sourcing, supplier rationalization, spend reduction, outsourcing consolidation, negotiation and contract support, category management, organizational redesign, supplier relationship management, and more.

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Monitoring & Sustainment Phase:

• Ensure the implementation roadmap is on track.

• Establish processes and organization to sustain improvements.

• Leverage global sourcing experience and subject matter experts.

• Drive supplier performance improvement and maintain cohesive team approach.

 

Comprehensive Approach for Sustainable Benefits: Our approach combines strategy, governance, and execution to drive and sustain benefits over time. The key attributes include:

 

Balancing Savings Initiatives:

• Strive for both direct savings and building sustainable procurement capabilities and processes.

• Focus on establishing continual savings through effective procurement capabilities.

 

Establishing World-Class Procurement Capabilities:

• Develop robust procurement capabilities within the organization's structure and technology solutions.

• Ensure the procurement organization can consistently achieve savings and drive continual improvements.

 

By adopting this comprehensive approach, organizations can drive savings, build sustainable procurement capabilities, and continually improve their procurement practices.