Identify Your Savings Opportunities: Part 1 of Understand Your eSourcing Options seminar series

View the Online Recording

The extremely popular seminar is facilitated by A.T. Kearney Procurement Solutions' Dale Peterson, who is one of the co-developers the Sourcing Management Technologies suite of products, including Spend Management.

Viewers hear A.T. Kearney Vice President and NAPM board member, Tom Slaight, discuss the nature of spend analysis as often being the forgotten aspect of strategic sourcing. However, the advent of electronic tools for sourcing management activities, such as spend analysis and deal management, means that today's leading procurement organizations can become far more efficient and complete in their sourcing projects than before. As a result of this increase in sourcing productivity, the entire strategic sourcing effort is garnering increased (and positive) attention from CEOs and senior executives in virtually every operational department.

Teresa Silva begins her remarks noting that, at Chevron, spend analysis was the first step toward understanding how much they were spending, with whom and on what. She then goes on to discuss Chevron's solution, launched in 1999, was to build a new Global Procurement data warehouse to track and report third party material and service spend. Chevron was motivated to move aggressively when they discovered that they had almost as many vendors (35,000) as they did employees.