Optipedia Digital Suite of Tools
Gaining an understanding of your quoted price(s) is critical to unlock hidden value. Traditionally, Procurement practice is to carry out a competitive tender for a defined amount of business via a RFX. There is no doubt this process should create a level of value to the business and is often referred to as the ‘Does Cost’.
However the ‘But’ is that this cost will only show you quoted prices (and an acceptance of the suppliers assumptions), and does not get to the heart of what you as procurement need to understand, and the question you really need to answer. The question is: ‘What is the real, or theoretically real price that you should be paying for the goods or service’ the ‘Should Cost’?
Optipedia Digital Suite of tools and services deliver on their business challenges through:
Should Cost Tool (Foundation for Procurement)
Cost Modelling Module
Loss Analysis Service
What is OptiPedia
OptiPedia, is an online collaboration platform to manage the multiplication of relationship and touch points to improve business performance by allowing supply chain partners to define mutually beneficial goals, and share processes and information. This includes should-cost modelling, coordination of planning, resources and processes between entities should result in less wastage, better margins, and lower costs.
OptiPedia is the registered trademark of InnoArk Pte Ltd in the UK and Singapore.
The 5 Key Benefits of OptiPedia
Provides 100% Transparency and Visibility
Having a huge amount of data at your fingertips – meaningful, properly presented information across all aspects of the relevant process – is crucial.
It enables the procurement team to benchmark suppliers in terms of cost and performance.
It also dramatically speeds up your ability to not just make decisions, but to make the right decisions.
Increases Cross-Functional Collaboration
All relevant information is instantly available across all relevant business units. This engenders collaboration between previously disparate departments resulting in better and quicker decision making and an all-round more streamlined process.
Instant Simulations of What-if Business Scenarios
Understand the potential impact that changes to your product, processes or procurement strategy would have.
Eliminates/reduces guesswork and risk
Significantly speeds up change implementation for existing product lines, and time to market for new launches
Saves you Money in Practically Every Part of your Business
OptiPedia gives you the opportunity to aggregate your portfolios by the same categories and is able to find the optimum process to strike a balance between complexity and cost optimisation.
Knowing what a part or service should cost gives procurement teams the upper hand in negotiations and can reduce costs by as much as 20%.
The streamlining of processes, coupled with better and quicker strategic thinking and decision-making saves time, effort and money.
Access to Experts in the Field
OptiPedia is not just software. It is also an industry specific professional, extremely knowledgeable and dedicated team. Experts on not just the regional marketplace, but the global one as well, their one job it is to help you with your strategic decisions, to cut your costs, streamline your processes and gain market share.
Contact us to see how we can do all this and more through OptiPedia Digital Suite of Tools.
Tel: +(65) 6250 0639
114 Lavender Street, #10-82
CT Hub 2, Singapore 338729
For over a decade, Innoark has been helping and working with clients all over the world with our technology solutions. Our sole mission is to make your life easier and more efficient.