Generated Over $4MM in Savings through Sourcing Four Categories
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Generated Over $4MM in Savings through Sourcing Four Categories
Client Profile
$4B equipment manufacturer with operations in over 20 countries around the world
Client’s Issue
Due to growth through acquisition, the client’s purchasing was extremely decentralized, often at the facility level. Insight Sourcing Group was engaged to leverage the full scale of spend through formal sourcing events and help achieve savings targets.
Our Approach
Insight Sourcing performed a spend assessment that identified four categories as potential savings opportunities. Sourcing strategies were initiated immediately including in-depth project and change management as most categories were previously managed by over 20 facilities and two disparate business units.
Categories Addressed
Temporary Labor
Ocean Freight
MRO
Packaging
PROJECT RESULTS: Generated Over $4MM in Savings in four categories
$4B automotive retailer that oversees about 80 dealerships and also offer parts, service, and collision repair, as well as financing and insurance
Client’s Issue
The client recognized an internal need for greater spend visibility and immediate cost reduction across several categories.
Our Approach
During the initial spend assessment, Insight Sourcing Group identified several categories with high savings potential. Through subsequent strategic sourcing engagements and leveraging Insight Sourcing Group’s GPO offerings, the client realized millions in EBITDA improvement in under 6 months.
Categories Addressed
Cleaning Supplies
Contract Management System
Office Equipment
Office Supplies
Tires
Voice & Data
Vehicle-Related Services
Wireless
PROJECT RESULTS: ACHIEVED MILLIONS IN EBITDA IMPROVEMENT in under 6 months
Identified High-Opportunity Savings, Established Savings Roadmap & Increased EBITDA
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Identified High-Opportunity Savings, Established Savings Roadmap & Increased EBITDA
Client Profile
$1.9B retailer operating 750+ company-owned and franchised stores and over 5,900 employees
Client’s Issue
The client’s executive team was tasked to meet high savings goals and increase EBITDA as part of a larger effort from its Private Equity owner.
Our Approach
Insight Sourcing performed a rapid spend assessment to quickly identify high-opportunity savings categories and establish a savings roadmap. Using this roadmap, the firm has strategically sourced several client categories in a multiphase project.
Categories Addressed
Corrugated
Direct Mail
Document Storage
Fixtures
LTL Freight
Ocean Freight
Office Supplies
Packaging
Signage & Displays
Temporary Labor
Truckload Freight
Voice & Data
PROJECT RESULTS: Increased EBITDA & Established savings roadmap
The Insight Sourcing team helped transform Procurement into a proactive, category-centric organization, delivering a 3-year savings of $110M and a 14x ROI on all project fees—including capability building projects.
Categories Addressed
Armored Car Services
P-Cards
Inventory Audit Services
Electrical Services
Tabs & Circulars
Print Management
Temporary Labor
PROJECT RESULTS: Transformed procurement & delivered 14x roi
Achieved $11MM+ in Savings and Established Indirect Procurement Organization
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Achieved $11MM+ in Savings and Established Indirect Procurement Organization
Client Profile
$2.5B industry-leading retailer of clothing and accessories
Client’s Issue
The client was seeking a strategic effort as part of an organization-wide goal to reduce indirect spend.
Our Approach
Insight Sourcing was engaged to work hand in hand with project stakeholders in the business units and at corporate to drive savings and elevate the role of Procurement within the retailer. The transformation project required a significant partnership with the client’s stakeholders across the organization.
Categories Addressed
Small Parcel Shipping
Print Management
Fixtures
Voice & Data
Facilities
Corrugated
LTL Freight
Shipping Supplies
Temporary Labor
Office Supplies
PROJECT RESULTS: Achieved $11MM+ in Savings & ESTABLISHED PROCUREMENT ORGANIZATION
Drove $22MM+ in Annual Recurring Savings Across 33 Spend Categories
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Drove $22MM+ in Annual Recurring Savings Across 33 Spend Categories
Client Profile
$2.2B specialty retailer operating more than 2,000 stores in the US and Canada
Client’s Issue
The client’s finance team was tasked with optimizing costs but lacked a centralized, strategic procurement function to identify and achieve savings.
Our Approach
Insight Sourcing performed a spend assessment to identify opportunistic categories, quantify savings potential, and develop sourcing strategies. Additionally, SpendHQ was deployed to continually track and monitor savings following completion of sourcing campaign.
Kristalyn Mumaw joins Insight Sourcing Group to amplify the firm’s marketing strategy and support rapid growth plans. ATLANTA, July 19, 2022–(BUSINESS WIRE)–Adding to its core leadership team, Insight Sourcing Group…
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Kristalyn Mumaw joins Insight Sourcing Group to amplify the firm’s marketing strategy and support rapid growth plans.
ATLANTA, July 19, 2022–(BUSINESS WIRE)–Adding to its core leadership team, Insight Sourcing Group is pleased to announce the arrival of global brand executive and growth marketing expert, Kristalyn Mumaw, as its first Vice President of Marketing. In her new role, Ms. Mumaw will amplify Insight’s marketing strategy and support Insight Sourcing Group’s rapid growth plans.
“I’m honored to serve as Insight Sourcing Group’s first VP of Marketing during such an exciting period of innovation for the firm,” said Mumaw. “Marketing initiatives are a critical component in a company’s growth journey, especially one that is as fast-moving, steady, and successful as Insight’s. I warmly thank the executive team for entrusting me with supporting their long-term growth objectives.”
Having most recently served as Global Marketing Director for Polyvision, Ms. Mumaw is an award-winning marketing leader with over 26 years of experience in revenue-generating, multi-disciplined global marketing; communications; sales; product development; M&A brand integration; multi-channel development; partner management and more. Her experience includes direct marketing strategy for Dell Technologies, eBay, National Grid, Hitachi, LG Solar, The North Face, and other well-known global companies and brands. Ms. Mumaw’s experience solidifies her reputation as a “go-to” strategist for structuring profit-focused marketing approaches. In addition, she also serves as a business community advocate in the Greater Metro Atlanta region and was the founder of KCA Services, an Atlanta-based marketing strategy and analytics consulting firm.
“Bringing a wealth of knowledge and innovative thinking in the marketing field, Kristalyn will accelerate our growth plans as we continue to expand our integrated suite of procurement service offerings globally,” said Tom Beaty, Founder and CEO of Insight Sourcing Group. “We have become the largest “pure play” strategic sourcing and procurement consulting firm in North America, and I am excited to work with Kristalyn to help expand awareness of our robust capabilities in new markets.”
In its ongoing growth efforts, Insight announced last month the arrival of Jonathan Rutman as its newest Business Development Executive; and in 2021, Insight added two key leaders to its executive team, Brandon Owens, Vice President, Sustainability and Rod Robinson, Senior Vice President, Supplier Diversity.
Insight Sourcing Group is the premier firm in North America exclusively focused on strategic sourcing, cost optimization and procurement operational transformation. Founded in 2002, Insight’s capabilities are designed to accelerate impact through the expertise of its 250+ procurement experts, its market-leading Category Center-of-Excellence model, and practices specializing in Supplier Diversity and Energy Management & Sustainability. For 20 years, its deep bench of sourcing and category experts has executed over 7,000 sourcing projects, and within the last year alone, they have achieved over $1.25 billion in savings for clients with an average 7:1 one-year ROI. To learn more, visit insightsourcing.com.
Sustainability initiative aligns with firm’s commitment to the same environmental standards it helps clients attain. ATLANTA–(BUSINESS WIRE)–Insight Sourcing Group (ISG), North America’s leading consulting firm focused exclusively on strategic sourcing…
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Sustainability initiative aligns with firm’s commitment to the same environmental standards it helps clients attain.
ATLANTA–(BUSINESS WIRE)–Insight Sourcing Group (ISG), North America’s leading consulting firm focused exclusively on strategic sourcing and procurement-related services, has launched a sustainability program aligned with the organization’s commitment to environmental stewardship, renewable energy, and waste reduction.
Following a comprehensive analysis by Insight Energy, a subsidiary of Insight Sourcing Group that recently expanded amid growing demand for its strategic services, ISG set a 100 percent renewable energy goal for 2030 which includes a commitment to sourcing its electricity from renewable sources at its Atlanta headquarters beginning in 2022.
“Not only do we apply the same standards to ourselves that we help our clients achieve, but we also sought to pull back the curtain on this process and bring some transparency to this increasingly important service offering,” said Brent Eiland, President of Insight Sourcing Group. “I commend the work of ISG’s Internal Sustainability Committee led by Brandon Owens, Vice President of Sustainability at Insight Energy, whose team is truly committed to creating long-term value for our clients – and ourselves – with sustainability at the forefront.”
As part of the initiative, ISG conducted a measurement of its Scope 1, Scope 2, and selected Scope 3 emissions categories. Based on the findings, ISG developed a roadmap to achieve 100 percent renewable energy and established a plan to measure and reduce Scope 3 emissions, which are indirect emissions like business travel. The Sustainability Committee also identified opportunities to reduce emissions from employee commuting via hybrid work models and a carpooling incentive program. Waste identification and reduction posed another opportunity to improve sustainability, with internal audits revealing an opportunity to reduce the use of single-use paper cups.
Furthermore, ISG’s procurement of Renewable Energy Credits (RECs) will certify the generation and consumption of renewable energy via wind or solar power. These commitments and actions place ISG among the leading professional services firms worldwide who are taking action to help address the global challenge of climate change by conducting business in an environmentally responsible manner.
Insight Sourcing Group is the premier firm in North America exclusively focused on strategic sourcing, cost optimization and procurement operational transformation. Founded in 2002, Insight’s capabilities are designed to accelerate impact through the expertise of its 250+ procurement experts, its market-leading Category Center-of-Excellence model, and practices specializing in Supplier Diversity and Energy Management & Sustainability. For 20 years, its deep bench of sourcing and category experts has executed over 7,000 sourcing projects, and within the last year alone, they have achieved over $1.25 billion in savings for clients with an average 7:1 one-year ROI. To learn more, visit insightsourcing.com.
Collaboration to provide solutions for diverse supplier engagement and inclusive procurement. ATLANTA, GA, UNITED STATES, September 16, 2022 /EINPresswire.com/ — The Georgia Minority Supplier Development Council (GMSDC) has partnered with Insight Sourcing Group…
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Collaboration to provide solutions for diverse supplier engagement and inclusive procurement.
ATLANTA, GA, UNITED STATES, September 16, 2022 /EINPresswire.com/ — The Georgia Minority Supplier Development Council (GMSDC) has partnered with Insight Sourcing Group to provide cutting-edge software and service solutions for the supplier diversity community. The GMSDC is the state of Georgia’s leading advocate for inclusive procurement and economic equity, having facilitated supply chain partnerships in Georgia since 1975. The GMSDC community includes more than 400 Georgia corporations and some 900 Minority Business Enterprise (MBE) firms who transact more than $9 billion in revenues annually.
The pandemic economy had a disproportionate impact on communities of color and minority owned businesses, with failure rates due to closures and cutbacks at much higher levels than their mainstream peers. There is now a renewed emphasis on economic equity across the spectrum in corporate supply chains, as large companies seek to implement enhanced strategies for economic inclusion. This partnership between the state’s top supplier diversity advocate and a leading strategic sourcing and procurement firm will revolutionize the way corporate supply chains engage diverse suppliers and partner with them to do business.
“Making DE&I actionable by incorporating world-class best practices and smart technologies results in tremendous benefits not only for the supplier community and corporations, but also for the broader local and state economic base,” states Rod Robinson, SVP & Supplier Diversity Practice Leader at Insight Sourcing Group. “We are honored to be providing these foundational elements to advance the GMSDC members’ access to diverse suppliers. We want corporations to not only count spend, but make that spend count; develop capacity, increase revenue and expand their base of suppliers. ”
While many procurement organizations face challenges achieving established Supplier Diversity goals, many more struggle to simply get started due to poor spend visibility, lack of quality benchmarks and the inability to locate qualified diverse suppliers within relevant spend categories. The partnership between the GMSDC and Insight will provide smart solutions and tools to enable corporate procurement organizations to launch new or accelerate existing Supplier Diversity initiatives.
Stacey Key, the President and CEO of the GMSDC, sees the Insight relationship as a game-changer for corporate supplier diversity programs. “The GMSDC is in the process of revamping its toolkit for supplier diversity professionals, by providing new best practices guidance and enhanced access to innovative solutions to their challenges,” says Key. “The Insight partnership is one part of a major effort to reimagine supplier diversity in a post-pandemic economy. If we can support our current and future members in engaging more diverse companies and making better use of their resources, we can achieve economic equity in Georgia.”
Insight Sourcing Group provides world class solutions for rapid impact and long-term sustainability. As a strategy consultant to supplier diversity programs, the expertise they bring to the GMSDC’s dynamic corporate community is vitally important. Additional information about solution specifics and partnership resources will be forthcoming. For more information, visit insightsourcing.com and gmsdc.org.
About the GMSDC The Georgia Minority Supplier Development Council, Inc. (GMSDC) is a not-for-profit organization that fosters value-driven partnerships that may otherwise not be possible between corporate entities, ethnic minority-owned businesses and government entities in the state of Georgia. With over 400 national and local corporate members and more than 900 certified minority business enterprises, the GMSDC recently celebrated 47 years as a leader in supplier diversity and minority business development. For more information, call 404-589-4929 or visit www.gmsdc.org.
About Insight Sourcing Group Insight Sourcing Group is the premier firm in North America exclusively focused on strategic sourcing, cost optimization and procurement operations transformation. Founded in 2002, Insight’s capabilities are designed to accelerate impact through the expertise of its 250+ procurement experts, its market-leading Category Center-of-Excellence model, and practices specializing in Supplier Diversity and Energy Management & Sustainability. For over 20 years, its deep bench of sourcing and category experts has executed over 7,000 sourcing projects, and within the last year alone, they have achieved over $1.25 billion in savings for clients with an average 7:1 one-year ROI. To learn more, visit www.insightsourcing.com
Emily Yang Georgia Minority Supplier Development Council +1 404-589-1828
Insight Sourcing Group announces Jonathan Rutman as its newest Business Development Executive to support its significant growth goals.
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Jonathan Rutman joins Insight Sourcing Group to support its significant growth goals and further amplify its integrated suite of procurement service offerings.
ATLANTA, Georgia — June 29, 2022 — Adding to its robust team, Insight Sourcing Group announces Jonathan Rutman as its newest Business Development Executive to support its significant growth goals and to further amplify its integrated suite of procurement service offerings.
“Leveraging my two decades of experience supporting senior finance, procurement and supply chain executives, I’m excited to join North America’s leading procurement-focused management consulting firm,” said Rutman. “I look forward to further amplifying Insight’s market leading ability to capture and reduce cost savings whilst advising corporate America in advancing its ESG and DEI goals.”
Prior to Insight, Rutman most recently served as a Global Strategic Account Leader at Gartner. Here, Rutman supported the largest and most complex client relationships for the firm’s supply chain practice. Throughout his 20+ years of experience, Rutman has held regional sales director and senior consulting roles at The Hackett Group, CBRE, Arthur Andersen, and KPMG Consulting—with a focus on management consulting, enterprise and SaaS software strategy, and enabling senior executives to execute on their most strategic and critical initiatives.
“We’re proud to have Jonathan join our firm at a time when corporate executives need our counseling the most,” said Jake Wojcik, Executive Vice President at Insight Sourcing Group. “His stellar experience will allow us to further cultivate new relationships and expand our offerings across our portfolio of Fortune-500 and Private Equity firms as financial executives and procurement leaders look to increase spend visibility, accelerate strategic sourcing savings, and amplify procurement best practices, amid the climate of today’s market.”
Insight Sourcing Group is the premier firm in North America exclusively focused on strategic sourcing, cost optimization and procurement operational transformation. Founded in 2002, Insight’s capabilities are designed to accelerate impact through the expertise of its 250+ procurement experts, its market-leading Category Center-of-Excellence model, and practices specializing in Supplier Diversity and Energy Management & Sustainability. For 20 years, its deep bench of sourcing and category experts has executed over 7,000 sourcing projects, and within the last year alone, they have achieved over $1.25 billion in savings for clients with an average 7:1 one-year ROI. To learn more, visit insightsourcing.com.
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