Implementation Considerations in Quantifying and Tracking Hard Cost Savings [Plus+]

In my most recent Spend Matters PRO series on diagnosing the quality of your procurement scorecard, I discussed various types of procurement value measurement. This morning I’m going to dive into some frequently asked questions and cited issues regarding implementing the cost reduction related metrics. What are cost savings? Should we consider cost reductions or spend reductions? How do we define a baseline? How about when there is no cost / price baseline? And what tools can help me track these savings? Read on for my discussion of these and many other questions.

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