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Opportunity Analysis

Opportunity Analysis

A question that is often asked by our clients is “Where do we start”?

The answer is typically found by completing a category diagnostic. This category diagnostic (or Opportunity Analysis) is an analysis of how your spend is being managed today to help prioritize how to devote your resources and efforts.

Category Diagnostics begins with a spend analysis, to help understand how much you are spending on each category, with whom, and which business units/geographies within your organization is spending it. This can be done to a very high or very detailed level of analysis.

Following this, the QP Group team then will then dig in into the individual categories and engage key stakeholders to understand what is the current situation, what are the implications of this situation, and what are the opportunities.

In addition, a series of questions for each category are asked to help further understand the opportunity within that category. These questions include:

What are you buying?

What is your strategy for this product/service?

How are your suppliers performing?

How is the internal organization complying?

This will ultimately help QP Group be able to estimate the potential benefit of addressing this category.

The final output of category diagnostics is an overall prioritization of the opportunities and a roadmap of how to realize the potential benefits. This is an invaluable piece of information for procurement management to help them decide where and how to apply resources to satisfy the needs of their organization.

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