Providing digital levers to help you understand, and beat escalating material costs
Designed to help you gain the understanding and the visibility of
the "Should Cost" and link the business function to optimise costs.
WHAT IS OPTIPEDIA
Optipedia is an online collaboration platform between supply chain partners that share processes and information to achieve mutually beneficial goals. It helps manage the multiplication of relationship and touch points to improve business performance in product development, new product introduction, sourcing and manufacturing functions through should-cost modelling as well as coordination and planning of resources and processes between you and your suppliers. This results in less wastage, better margins and lower costs for all parties.
How We Acquire Data
To get a base level understanding of how your price is made up, we can obtain existing data that you have from your system. This will give you a high level overview of your materials, manufacturing, logistics, waste and profit. Data gathered from your supply base will give you a sub-structural cost level, to evaluate unique materials, fixed and variable costs to packaging and logistics routing. To be in full control of understanding your price, data collected from a supplier eco system will be required. This will give you access to fixed and variable process KPI's and A.I. development of profit.
The 5 Key Benefits
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 could change your product, processes or procurement strategy.
• 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 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 a software. It is known in the industry, and run by a professional, knowledgeable and dedicated team. The team is not just experts in the regional marketplace, but also globally. Their job is to help you with your strategic decisions, to cut costs , streamline processes and help you gain market share.
Background of Client
Client is a large MNC with multiple suppliers and manufacturing plants worldwide. They were using multiple SAP systems that did not give sufficient visibility of their aggregated and granular spend. There were large price variance for the production of the same product at different locations and the procurement team was unable to challenge prices with suppliers to achieve cost saving.
To create one centralised repository of data for procurement that captured supplier cost, packaging designs and material cost. To identify suppliers that were strategic to the business to create a more strategic procurement process.
What We Did For Them
From the research & development, sourcing, to the purchasing of our client’s operations, Optipedia provided level 4+ support to capture data accurately and digitalised the entire process. With a central depositary, client is able to identify the “should-cost” of each product manufactured. We have an ongoing consultancy to support and guide our client for strategic procurement decisions.
20% cost savings
30% reduction in material complexity
5000% return on investment