What belongs to "Cost Reduction"?
Cost reductions have direct impacts on the profit and loss statement of a company. In procurement, cost reductions can be organized in various savings categories.
We principally differentiate between:
- historical savings
- budget savings
- technical savings
Impact & Savings Tracking
Impact & Savings Tracking is a full featured suite for planning, steering, controlling and administering of sourcing initiatives. You can use this software to plan and create sourcing initiatives, define savings targets, assign responsible staff members or teams to initiatives, determine sourcing levers, set activities and milestones, as well as monitor and analyze them easily by using innovative visualizations and dashboards.
Request a Demo for Impact & Savings Tracking more about Impact & Savings TrackingSearch Glossary
Orpheus Glossary
Here you will find important terms related to spend management explained in a clear way. Small knowledge base for quick information or in full for your further education. This controlling glossary is constantly being expanded and improved.
Orpheus Blog
Read blog articles about spend management, initiative management and data management in procurement, or other articles from our experts.
Weblinks
For more information, see the following article:
