Project Name:
Procurement Transformation
Company Overview:
- Client is the world’s leading manufacturer of power transmission belts and a premier global manufacturer of fluid power products
Project Scope:
- Transform the Procurement function across all lines of business
Project Outcomes:
- Achieved cost reductions totaling $65m in annualized savings
- Implemented savings of over $55m/year by week 35 of the project
- Achieved additional $15.6m in working capital improvements
- Improved DPO from 12 to 30 days
- Improved spend management, RFx process, contract management, P2P, and Supplier performance, through the implementation of the Ariba technology platform
- Establishing Category Management processes in conjunction with Key Performance Indicators at Site and central Purchasing Functions
- Established a new Banking relationship for the P-Card solution supported by the Procurement technology
- Direct hands-on sourcing in over 40 negotiations
