Hexaware has a robust framework for Strategic Sourcing. We bucket the spend to Strategic, Tactical and Tail Spend then manage the same leveraging our Six-pronged Sourcing Approach based on the nature of spend / category i.e., Complex, Simple, Smart, Rapid, Spot and Sole Source. We have worked with various clients on their Strategic Spend and have developed robust framework, assets and artefacts to manage the same effectively. We have successfully executed more than 3,000 sourcing initiatives, addressing over USD 9.5 Billion in spend and realizing over USD 2 Billion in savings. Several of our clients have materialized many benefits other than direct savings by relying on our outstanding methodology and approach to sourcing and total cost of ownership. Our exposition to a global environment and adoption of best practices enable us to generate intangible assets that contribute to our clients’ long-term strategy positively affected by an accurate supplier relationship management structure, converting them into key contributors to their environment and stakeholders. The below diagram captures our Strategic Sourcing process which typically starts with opportunity assessment, current state spend analysis and progresses to policies development, sourcing strategy, category strategy, market intelligence, supplier identification and execution of sourcing events:
Our 20+ years experienced professionals have led transformation for our clients while delivering savings through strategic sourcing, supplier negotiations, supply chain improvements, organizational improvements and spend analytics. Our team currently manages billions of spend across various categories and projects. The below diagram captures the different categories managed across various industries currently by our professionals:
Our goal is to achieve the best strategic results for our clients with optimized spend and best-in-class sourcing practices for maximizing ROI. We are currently envisioning the execution of operational and discretional projects, as well as quick-quotes (quick hits) that will streamline results. Savings trend towards a normal distribution across a major category though not evenly split across subcategories, mostly those that are limited in competition, very specialized, are affected by index pricing and/or represent a low margin for suppliers. Furthermore, a higher consolidated spend usually translates into a higher savings percentage as suppliers may capitalize on scale economies, bulk discounts and labour distribution, whereas this is the opposite in lower spend scenarios. In anticipation of this, and with the understanding that spend will not be easily bundled for some projects, the contributing features of our solution (flexibility, scalability and prioritization) are key factors to a client’s strategic sourcing success.
We bring expertise across multi leading e-sourcing platforms and complement it with our proprietary analytics, assessment models & sourcing plans that intend to optimize spend and deliver faster ROI. Through our robust methodology & practices, we make commitment to bringing double digit savings across addressable spend.
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