Nitor has generated over $200 Million of measurable and realized savings for clients through strategic sourcing projects. Category savings typically range from 5-30% depending on the specific category and current state environment. Nitor’s strategic sourcing services projects not only create a more efficient environment but also enable a self-funding approach for broader Source-to-Pay Transformation.
Nitor’s five-stage strategic sourcing process is a structured sequential approach, based on Agile principles, to the procurement of goods and services and the management of the value delivered.
Nitor takes a holistic approach to Strategic Sourcing not only to drive cost savings but also to align with business needs to improve performance across quality, delivery and service. Depending on the category need, Nitor uses a variety of sourcing strategies to be pursued independently or as a layered approach to drive value:
Nitor provides Sourcing services working on-site as your Sourcing team to lead and execute all aspects of the Sourcing project. Nitor builds a relationship with the business stakeholders to establish the needs and priorities and ensure buy-in to the Sourcing project. On-site consulting provides the client with the most experienced Source-to-Pay resources in the industry to fully execute and deliver Sourcing projects.
In the event the client has an existing category team in place, Nitor provides Sourcing advisory services execution. Nitor will work in an advisory role providing guidance and support to the existing Sourcing team throughout the process and provide on-the-job training and knowledge transfer. At the conclusion of the Sourcing project, the internal Sourcing team will have the expertise to manage existing categories and execute future Sourcing projects.
Nitor offers Remote Sourcing event execution, managing the RFx/auction event for the client. Remote Sourcing can be scaled and the model is flexible to meet the individual needs of the client – whether just managing the event or also providing full project and strategy support.
Three models can be delivered independently or integrated to provide full category coverage. The factors that typically determine the best model(s) to use include: spend amount, category complexity, market dynamics, resource availability, geographic spread and stakeholder impact.