Optimizing a program can be a massive undertaking for an organization.
Companies may not have the resources to strategically optimize a program.
At Dryden, we have the data as well as the expertise needed to drive savings and increase efficiency.
Optimizing Business Processes
Program optimization involves evaluating and adjusting a process without making an entire overhaul. The most common aims of optimization typically involve maximizing efficiencies and lowering overall costs to save money. The technique entails using processes, people and technology to optimize an existing program or function.
Optimization Success
The philosophy behind optimization is that optimized programs lead to achieved business goals. Some examples of successful optimization include:
Eliminating redundancies: Redundancy could come from multiple employees performing the same role or two different departments handling the same function.
Streamlining workflows: Optimizing workflow entails simplifying or improving a method to create better results and enhance efficiency. This step could involve adding more employees or providing better resources to complete a task.
Improving organizational communication: By optimizing a program, managers can improve interdepartmental communication and facilitate a more productive workplace.
Forecasting changes: Analyzing the patterns of past performances allows a business to predict what will happen down the road and prepare accordingly.
The Process
Our team can step in at any time during a program and optimize. The process begins with a comprehensive review of your data and purchases. Using our extensive internal database of spend statistics and vendor records, we look for opportunities to realize improvements, gain efficiencies, and reduce redundant product offerings.
Your Strategic Partner
We work with you to ensure that essential products remain intact, while rationalizing as many products as possible. Lastly, we work directly with your suppliers to ensure effective and timely implementation. As your strategic partner, Dryden Group can help you optimize your programs to drive both savings and internal efficiency.
Program Optimization Stages
Identify: The first step is to identify the program needing improvement and clearly define the goals and purposes of the optimization process.
Analyze: This stage involves a detailed review of all your company's purchases. It identifies wasted time, duplicated efforts and any related errors.
Implement: Once we identify the weaknesses in the program, we will recommend a new course of action and advise the best way to incorporate the new program elements.
Monitor: A successful optimization should continue indefinitely. By monitoring the results of past implementations and evaluating new programs, improvements will last over time.
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Benefits of Business Process Optimization
Several benefits you'll see from successful business process management are:
Cost reduction: Optimizing every phase of the procurement process will lead to cost reduction in multiple areas. For example, improvements may result in lower pricing, higher-quality raw materials with less waste and streamlined deliveries. Savings will also result through the elimination of redundancies and duplicated tasks.
Higher profits: By eliminating errors and rework, you contribute to higher profit margins. Increasing efficiency and minimizing the time it takes to perform an operation will also elevate margins.
Improved supplier performance: Optimization will allow you to see which suppliers are underperforming and which ones are performing well. By understanding these details, you can seek out new vendors or leverage your existing suppliers to perform better. You can also take advantage of new opportunities like rebates and discounts that were not available previously.
Enhanced supply chain collaboration: Improved supplier performance will lead to better communication. Quicker responses and real-time technology can provide more accurate order details like updated pricing and delivery data. Enhanced collaboration also means that your company's supply chain can better navigate any unforeseen issues down the road.
Improved quality: When you clearly define vendor expectations, higher levels of quality will result. A focus on quality will allow you to put out a better product with less wasted effort and materials.
Innovation: An optimized program will allow your company to seek new services and products to improve your operation. This part of the process will enable you to rise above your competition.
Why Choose Dryden Group?
Since 2001, Dryden Group has helped companies enjoy more than $1.5 billion in savings. A large portion of those savings emerge from our indirect procurement benchmarking services, and other portions of those savings are related to procurement audits and other services we provide. Are you missing out on valuable savings on indirect spending? Make sure you’re maximizing your investments when you choose Dryden Group for indirect commodity benchmarking or similar procurement services for your business.