SpendEdge, a leading provider of procurement market intelligence solutions, has announced the completion of their free downloadable article on the clean sheet cost models adopted by companies to reduce their overall spend in European countries. The article provides detailed insights into the advanced cost-savings methods implemented by top CPG companies to sustain growth in Belgium and Switzerland. The free article highlights how companies can optimize their spend portfolio and address challenges arising due to the depreciating value of currency and changing market landscape.
The growing popularity of private label ranges in countries like Belgium and Switzerland has increased competition for companies in the CPG industry. Companies now need to develop clean sheet cost models that can reduce their overall spend, address rising pressure from activist investors and outshine their competitors. Download this free resource to gain a comprehensive overview of how top companies are achieving these business objectives and optimizing their spend portfolio.
Developing an effective clean sheet model requires the analysis of various components. Request a free demo to know how our experts can help you with the latest market insights.
Steps to Develop a Clean Sheet Cost Model
Step 1: Collect Data
Companies need to collect relevant data to develop an effective clean sheet cost model that can drive input cost visibility. They can utilize different sources for this such as enterprise resource platform (ERP), procurement systems, supplier invoices, and spend analysis summaries.
To know how companies can optimize their spend portfolio, download the complete article here.
Step 2: Identify cost components
After collecting all the relevant data, businesses need to determine the costs incurred in the areas such as materials, labor, overheads, and logistics while manufacturing products. It helps companies to gain a clear understanding of the elements constituting the cost of a product or a service.
Determining cost driving factors is crucial for companies to reduce spend. Request a free proposal to access our service portfolio of spend analysis solutions.
Step 3: Analyze cost drivers
To identify all cost/ process factors companies need to analyze open data sources, internal databases, and external third-party databases. This helps them to craft informed negotiation strategies to lower purchase prices and minimize overall procurement costs.
Get in touch with our analysts to gain a comprehensive overview of benefits leveraged by top companies through clean sheet cost models.
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