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SynerKey LLC
29488 Woodward Ave.
Suite #322
Royal Oak , Michigan 48073
Phone: 248.632.1472
Fax: 248.671.0395
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Sourcing Assessments
We provide several services under this broad category of 'Sourcing Assessments' - P2P, Spend Analysis, Strategy, Organizational. All involve an evaluation of your current practices, a gap analysis identifying potential opportunity areas - an evaluation of people, processes, procedures, tools, techniques, strategies, reporting, spend, visibility, responsibilities, etc. Put our experience and expertise to work for you. With our well defined and proven supply chain management and strategic sourcing methodologies and expertise, we will quickly identify opportunities within your organization. We provide you with an analysis benchmarking your current practices against optimal practices and identify the highest opportunities for return - specific to your company. We are able to carry out each of these four assessments independently or conduct a comprehensive sourcing assessment combining aspects of all. | |
1. P2P (Purchase to Payment) Assessment
What happens in your company between purchase and payment? We can help to identify risk areas you may not be aware of – is your purchase and payable process paper driven? Are you able to collect historical data to make more intelligent buys? Are you able to aggregate your spend? Do you suffer from maverick spend? Are projects constantly over budget? Are you receiving product late? Are inventory levels too high? Can invoices be paid without appropriate approval? Can purchase orders be created and approved without appropriate signoff? Can duplicate invoices sneak through your system and be paid twice? Can invoices be paid without verification of a contract or committed spend? Our professionals have significant overall supply chain experience. For us procurement does not end at the purchase, it involves development of a purchase order, verification of goods/services, accurate invoice receipt and payment … and of course, ongoing supplier and contract management. The controls that ensure a successful supply chain organization.
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2. Spend Analysis
Analyzing your total expenditure levels, the percentage of total spend represented by each commodity, the relationship of spend to strategic objectives, technical complexity, market conditions, supplier alternatives and other client specific factors. We map each commodity according to specific characteristics, such as its degree of impact on your business and degree of sourcing challenge. Do this analysis in conjunction with our Strategy Assessment for a more comprehensive evaluation of commodity strategies for the future of your business.
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3. Strategy Assessment
Tailoring your sourcing strategy to specific commodities and their importance to your business. We do not take a cookie cutter approach to our clients, each is unique in their own way and we recognize and embrace that - developing commodity strategies that clearly outline how the commodity will be managed and performance targets will be achieved, inclusive of competitive bids (RF’x'), consortium procurement, electronic auctions, value added services from suppliers, joint product/process design as well as information from our own benchmarking expertise. Our hands on experience developing strategies for and negotiating thousands of deals is a great asset to you here… put us to work for you. This Strategy Assessment is best done in conjunction with a Spend Analysis in which we take a very targeted dive into commodities, compiling company specific information such as spend history and contractual commitment with commodity expertise including supplier information (current and potential), sourcing method success and history, sourcing strategy identification, market conditions, volatility of foreign markets, commodity dependancy, etc. At the end of this assessment we are able to provide our clients with very specific commodity strategy identification as well as estimated savings. This information stays with you so that you are able to conduct the sourcing projects independent of our assistance, or with our assistance if you so desire.
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4. Organizational Assessment
As procurement organizations are given more responsibility and all eyes turn to them to reduce costs the procurement organizational structure must evolve to one capable of impacting the entire enterprise. This evolved structure is more than modifying the organizational hierarchy - it involves tools, people, processes, etc. - ensuring agility, profitability, productivity and flexibility for your organization. Our assessment is conducted with a simply stated methodology - ensuring that the right item/service is delivered at the right place and time for the best price. Our professionals have direct experience developing successful procurement organizations. We will develop a successful organizational design appropriate for your business.
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