Aerospace Products Company
Working directly with the new Chief Procurement Officer (CPO), Greybeard crafted a coordinated plan to help this aerospace company bring its indirect materials and services costs down to earth.
While the new CPO made progress on direct spend initiatives, Greybeard was tasked with taking a fresh look at indirect spend.
Through its assessment and transformation roadmap process, Greybeard:
- Analyzed external spend for indirect materials and services
- Assessed current contracts
- Evaluated procurement strategies, processes, and practices
- Prepared an assessment of cost reduction opportunities by major spend category
- Presented findings and recommendations to the new CPO, who began embedding them into overall plans
Results and Benefits
By bringing in Greybeard to target indirect spend as the CPO focused on direct spend, this aerospace company was able to accelerate its cost saving efforts. Greybeard:
- Identified significant untapped opportunities to improve business processes and spend management
- Targeted specific priorities that led to improvement in results
- Created recognition that improvements in indirect materials and services can be a significant long-term contributor to improved financial performance