Capital project managers, occupied with coordinating infrastructure, finance, construction, engineering, and architectural teams are often overburdened and unable to efficiently source the products needed to furnish new facilities or improve infrastructure. RICHHI MANAGEMENT SERVICES can help!
Partnering with a strategic sourcing provider for the acquisition of capital assets such as equipment, property, buildings, and other CAPEX allows project managers to expand their budget while ensuring timely delivery of high quality products. With a strategic partner who understands the importance of the design and vision of a new facility build out or infrastructure upgrade, capital project managers will be better able to improve budgets and deadlines.
OUR SOURCING PROFESSIONALS INTEGRATE THEMSELVES INTO YOUR PROJECT MANAGEMENT TEAM TO SAVE YOU TIME AND MONEY WHILE MEETING FACILITY PLAN AND DESIGN EXPECTATIONS FOR YOUR CAPITAL EXPENSE PROJECTS.
Utilizing a proven strategic sourcing process and subject-matter expertise, RICHHI MANAGEMENT SERVICES helps institutions reduce capital equipment and services expenses. Our team has the time, resources and market intelligence to ensure that you are getting the best possible value out of all of your capital expense initiatives.
RICHHI MANAGEMENT SERVICES's subject-matter experts on facility build out and capital project procurement can reduce costs across a number of categories, including
• Computer Equipment and Servers
• Office and Hospitality Build-Outs, including Furniture
• Fixed Assets
• Intangible Assets
• Asset Upgrades
• Property Restorations or Adaptations
• New Business Acquisitions
• Leases
• Fleet and Vehicles
RICHHI MANAGEMENT SERVICES can work with your sourcing group and stakeholders to ensure that you are receiving the best possible capital equipment and assets at the lowest possible price.
Strategic Sourcing for Commodity Chemicals can be a daunting task, but RICHHI MANAGEMENT SERVICES can help
The sourcing of direct materials such as chemicals can be incredibly time consuming and cumbersome for internal procurement and sourcing groups.
Besides being highly complex and specification driven, strategic sourcing for chemicals provides several other unique challenges including; geographically-driven pricing, high base ingredient quality standards, an evolving global marketplace, product and supplier consistency, and risks of supply loss and disruption.
Add in the burden of managing your other daily responsibilities and developing sustainable chemical supplier relationships, and at the end of the day there simply isn't that much time left to properly source your chemical spend.
RICHHI MANAGEMENT SERVICES is here to help. Utilizing our strategic sourcing consulting services for commodity chemicals, RICHHI MANAGEMENT SERVICES can leverage your internal resources and supplement them with our time, our market intelligence and our own resources to ensure you are getting the best price from the best supplier at the highest quality in the right lead-time.
Strategic Sourcing Services for Commodity Chemicals: Evaluating Supplier Services and Pricing
We help you identify the best chemical suppliers and improve the relationship and price with your existing chemical suppliers. Whether it is speaking with your incumbent suppliers or qualifying chemical supplier alternates in the market, RICHHI MANAGEMENT SERVICES's chemical sourcing team concentrates on your individual needs and a core set of factors in order to evaluate potential suppliers/distributors and their offerings. These factors include:
• Individual chemical and non-chemical product and service diversity and portfolio
• Ability to meet the unique qualitative and quantitative requirements of your organization and your chemical specifications
• Location of supplier's chemical or base ingredient distribution centers and product lead times to each of your facilities
• Ability to provide just-in-time delivery - on a 24/7 schedule - to keep your production line moving with minimal carry and holding costs
• Competiveness in price and index tracking methodology
• Payment terms and ancillary fees such as delivery, fuel, energy, and tote maintenance/replacement surcharges
• Ability to hold and manage chemcial product inventory - consignment, VMI, and tank telemetry services
• Chemical Supplier or chemcial distributor specialized value-added benefits
Procurement departments face the daily challenges of ensuring timely delivery of chemicals while keeping track and mitigating fluctuating pricing. RICHHI MANAGEMENT SERVICES's strategic sourcing team qualifies and establishes a base of dependable and best-in-class suppliers, giving you the tools to increase your department's efficiency and the much needed breathing room to deal with the inevitable last minute orders.
Strategic Sourcing Services for Commodity Chemicals: The RICHHI MANAGEMENT SERVICES Approach
Our strategic sourcing team has more than two decades' experience successfully sourcing a variety of products across hundreds of categories for our clients in the manufacturing, agricultural, food, and personal care industries. This has included many chemical-related categories, such as:
• Polymers
• Bulk Petrochemicals & Intermediates
• Inorganic Industrial Chemicals
• Organic Industrial Chemicals
• Solvents
• Fertilizers
• Fragrances & Flavors
• Specialty Chemicals and Enzymes
Our chemical sourcing experts develop an individual strategy for each client and carries out a thorough market assessment to generate as detailed a profile possible of each target supplier, gather pricing quotations, and capturing the current state of the market. We streamline the product comparison process by gathering and managing specification sheets, COAs, MSDAs, and other necessary certifications.
Our strategic sourcing group then leverages our internal database of price points gathered from decades of sourcing events, along with current market intelligence during the negotiation and contracting phase of the initiative, to realize savings through cost reductions and program concessions. Substantial chemical savings can be achieved with the implementation of tiered and performance based rebate programs, which our sourcing teams can negotiate for you with the supplier. Our chemical strategic sourcing team is also experienced in negotiating additional value adds such as extended payment terms, inventory management, and comprehensive training programs, which are never overlooked in the course of our strategic sourcing initiatives for our clients.
We work with you to implement new pricing with incumbent chemical suppliers to achieve immediate savings without having to go to market, and our strategic sourcing team assists in managing alternate supplier facility evaluation visits and new product testing for sustainable relationship development and long term savings.
Chemical markets are constantly moving, and keeping track and understanding how to leverage your spend volume in an ever-changing environment can be difficult and time consuming. Using our database of market intelligence and subject matter expertise, RICHHI MANAGEMENT SERVICES's strategic sourcing team can quickly identify and implement the cost savings opportunities that make the most sense for your organization.
Contact us today to learn more about how we can help your company get the best chemicals at the best price.
INCREASE RECOVERIES AND LOWER RECOVERY COSTS THROUGH STRATEGIC SOURCING
Typically, health insurance companies and other payors in the insurance industry outsource a significant portion of their overpayment recoveries operation and unrecovered claims to independent providers. While this is a popular operating model, many insurance payors struggle with establishing competitive pricing that can ensure high levels of recoveries at fair costs.
RICHHI MANAGEMENT SERVICES can help! Through our diverse portfolio of strategic sourcing services and vast experience in the claims recovery services arena, RICHHI MANAGEMENT SERVICES can offer exceptional cost reduction support by benchmarking your subrogation management and claims recovery costs, identifying competitive providers, and negotiating rates while ensuring the optimization of your claims recovery operation.
STRATEGIC SOURCING AND CLAIMS RECOVERY: MARKET INTELLIGENCE
Our strategic sourcing and claims recovery experts offer a unique approach to optimize your incumbent claims recovery operation. Our sourcing teams leverage our volumes of proprietary, up-to-date market intelligence, identifying best-in-class solutions to your subrogation management and claims recovery needs. This includes:
• Pre-adjudication claim recovery services, which mine claim data to identify errors and overpayments before claims payments are submitted
• Post-payment claim recovery services, which identify and process recoveries based on payment variances on retrospective audits
• Automated solutions and collection modules that operate by offering conduits to process "Provider-reported Overpayments" and to receive, review and manage medical records
RICHHI MANAGEMENT SERVICES can help you negotiate and reduce the contingency fees offered by claims recovery services providers. Our strategic sourcing and procurement experts can identify more competitive "shared savings" models specific to your operation and the stature of incumbent suppliers utilized within your claims recovery process.
Popular services within the claims recovery category include:
• Medical and Commercial Coordination of Benefits (COB)
• Subrogation
• Workers Compensation
• Pharmaceutical Benefits
• Diagnosis Related Group (DRG)
• Data Mining
We know the complexities behind claims and overpayments recovery and understand how important it is to streamline and improve collaboration with your incumbent claims recovery services providers.
Our strategic sourcing claims recovery experts can help you evaluate the pricing structure you are receiving from your claims recovery and auditing services provider(s), and can help you reduce your cost without compromising service quality.
Contact us for help with strategic sourcing for your claims recovery needs.
RICHHI MANAGEMENT SERVICES provides a tailored suite of strategic sourcing services that deliver exceptional value while comprehensively addressing all your Contingent Labor cost reduction needs.
Contingent workforce management, and controlling the costs associated with it, can be a challenge to wrangle as the workforce continues to change. Non-employee workers have increased their presence in the workforce significantly over the past 10 years and will continue to grow in the future. By moving your organization to a total talent management program, utilizing a Managed Service Provider (MSP) or Vendor Management System (VMS), you can decrease the risks associated with a contingent workforce and drive value to your bottom line.
Common challenges in Contingent Workforce Management include:
• Multiple agencies providing contingent labor services to your organization.
• Multiple agreements with varying terms and conditions including decentralized mark-ups and inconsistent conversion fees.
• Inability to identify contingent workers within your own walls.
• Inability to track company assets and access to facilities/offices.
• Hiring managers working with their favorite supplier to obtain talent, which can lead to cost increases.
• Independent contractors working within your organization without properly being vetted as Independent Contractors.
• Increasing risk of non-compliance with IRS due to misclassification.
• Statement of work-based projects having scope creep due to lack of visibility into milestones and deliverables.
• Invoices for SOW projects being paid without verifying completion of work.
Our Contingent Labor strategic sourcing and cost reduction experts will allow you to:
• Analyze the contingent labor market to understand characteristics and identify roadblocks such as government labor regulations with independent contractors
• Establish full visibility into spend across your enterprise for all aspects of contingent labor
• Identify inefficiencies in sourcing methods and assist in streamlining talent acquisition
• Leverage your total contingent workforce spend to drive decreased costs
• Negotiate and improve contract terms, pricing models and rates with all temporary labor providers
• Develop a best in class contingent workforce management program
Our industry expertise, in-house subject matter experts, and proprietary volumes of real-time market data combine to align a tailored contingent workforce solution to your needs and budget requirements. RICHHI MANAGEMENT SERVICES's contingent labor vendor cost reduction and strategic sourcing model is all-encompassing, flexible and scalable, which will allow your organization to reduce the overall costs allocated to temporary employee and Statement of Work services while securing favorable contract terms and performance levels, all while ensuring scope alignment from the staffing and consulting agencies.
In addition to contingent workforce management, you may want to consider looking at total talent management. Total talent management includes management of both your contingent workforce and direct hire recruitment. Direct hire recruitment can be managed through the use of Recruitment Process Outsourcing (RPO). RPO may involve strategic consulting for talent acquisition, sourcing for select department or skills or total outsourcing of the recruiting function.
While the contingent workforce is continuing to change and grow, through effective analysis and a strong management plan you can control costs, compliance and risk without compromising the quality or delivery of the services that are needed. Contact RICHHI MANAGEMENT SERVICES's Temp Labor reduction experts today to get started.
RICHHI MANAGEMENT SERVICES has the professional experience to provide guidance in streamlining your merchant account structure, leveraging our category expertise to negotiate best possible pricing, implement best-practices in security and compliance, and utilize additional value-adds to align with your retail and e-commerce goals.
Whether you are domestic, regional or global, keeping up with the ever-changing landscape of payment processing can be a challenge for even the most agile organization. If core suppliers are unable to quickly adapt to new technology and regulation changes, niche suppliers may need to be adopted, leading to higher costs, and a decentralized management and reporting structure. We understand the importance of selecting a merchant service solution that supports your overall business by operating as a strategic partner and enabling you to continue to drive value and innovation as your organization grows.
RICHHI MANAGEMENT SERVICES has experience in addressing the challenges associated with every stage of the card processing cycle from customer swipe to the settlement of funds. Our purpose is to help your organization gain a competitive advantage by improving relationships with your incumbent merchant service provider(s), or assisting you in the selection of one(s) better suited for your needs and corporate culture. Our strategic sourcing services provide the means to deepen relationships with incumbent suppliers by improving transparency and identifying unpenetrated areas of value. We also possess the market intelligence and supplier identification services necessary to identify best-fit suppliers in the market.
Our process always begins with developing a deep understanding of your current transaction profile and merchant service needs. We align any immediate improvement strategies with your future expectations, developing a forward-facing plan of action that will create both short-term and growth-influenced value in the form of hard and soft savings.
Our suite of strategic sourcing services will allow you to:
• Identify consolidation opportunities within your incumbent supplier base, centralizing reporting and account management functions.
• Leverage your organization's transaction profile and market intelligence to realize the best possible payment processing and acquiring fees.
• Implement an Omnichannel retailing solution, promoting a seamless customer experience from mobile to desktop to brick-and-mortar transactions.
• Audit internal processes and suggesting efficiencies
• Re-configure set-up to achieve the best interchange industry rate
• Increase transactional efficiencies
• Select a partner that will provide best-in-class support in:
o PCI compliance, maintenance and liability management
o EMV transition and fraud minimization
o Quick fund settlement & Chargeback management
o Integration into ERP systems
o Optimal PIN Debit routing
o Alternate payment method support and implementation (Apple Pay, Mobile Wallets, Etc.)
o Global payment processing and foreign exchange risk solutions
o POS terminal installation, maintenance, and upgrades
In addition to negotiating merchant account contracts, we do the leg work to make sure that your merchant account agreements are written in your favor. We align your credit card processes with your company's needs to ensure transactional costs are accurate. Our expert team of merchant account processing sourcing professionals is well-versed in interpreting merchant account agreements and renegotiating the cost structures of credit card transactions including:
• Tier pricing
• Interchange Plus pricing
• Bill Backs
• Nuisance fees
• Monthly minimum fees
• Early Termination fees
• Chargeback fees
• Customer Service fees
• PCI Compliance fees and processes
• Card Association Fees
• Card Category analyses
By applying proven strategic sourcing methods, RICHHI MANAGEMENT SERVICES adds additional expertise and resources to your existing procurement department to help you negotiate with merchant account vendors and to help run your retail transactions efficiently.
Whether your organization calls for a comprehensive processing, acquiring, and global gateway solution or finding the correct balance of multifunctional and niche service providers, RICHHI MANAGEMENT SERVICES will act as your advocate to make sure you are negotiating the right price and value to meet your organization's credit card processing needs.
RICHHI MANAGEMENT SERVICES has the tools, resources, and decades of expertise to help organizations efficiently manage a category-diverse set of facilities maintenance service providers.
Finding the right suppliers to maintain your facilities can be difficult and time consuming. From janitorial services, to groundskeeping and maintenance supplies, ensuring suppliers are providing apples-to-apples quotes, developing contracts with clear service levels, and validating that supplier quality of service and productivity levels are maintained are all critical to the success of any facilities maintenance project. Attempts to cut costs in the facilities maintenance category are tempered by the inability to endanger the standards for the safety and comfort of your employees. For many organizations, this results in their paying a premium to their facilities maintenance suppliers.
RICHHI MANAGEMENT SERVICES's strategic sourcing team takes factors like these seriously when approaching projects within the facility maintenance category. We understand that your facilities maintenance scope of work needs to be centered on high service levels so that your business does not experience disruptions at any level of operation. Our team of in-house strategic sourcing experts are versed in the latest technologies and trends in facilities management, and will use this market intelligence to develop the ideal program for your business's needs.
We have extensive experience helping companies resolve the most common challenges faced by Facility Managers and Procurement teams, including:
Facility Maintenance Challenge: Supplier Management
• Managing internal work vs. outsourced work
• Evaluating supplier performance - SLAs and KPIs
• Tracking and compliance of pricing agreements
RICHHI MANAGEMENT SERVICES has the tools, resources, and decades of expertise to help organizations efficiently manage a category-diverse set of facilities maintenance service providers.
Facility Maintenance Challenge Availability and Accuracy of Data
• Collecting historical price points and trend data
• Receiving clear, concise continuous reporting
• Management of maintenance and repair records
Facility Maintenance Challenge Selecting the Right Partners
• Choosing the right team for the job
• Determining what services should be performed in-house vs. a partner
• Fewer resources to perform an adequate supplier selection evaluation
Facility Maintenance Challenge Asset Management
• Maintaining existing equipment longer
• Making decisions on which equipment to replace and when
• Determining the right mix of preventative maintenance and a break/fix scope of work
Facility Maintenance Challenge: Reducing Costs
• "Doing more with less" - resource constraints
• Operational budgets cut and capital expenditures minimized
• Creating facility efficiencies
With all of these challenges, procurement departments and facilities managers can benefit from RICHHI MANAGEMENT SERVICES's more than two decades worth of accumulated market intelligence and cross-industry best practices. Our team of strategic sourcing experts will perform a thorough analysis of your current baseline data and benchmark this against the market. Our team reviews everything from rates, price points, scope of work, staffing levels, and supplier performance, including service levels and key performance indicators. Our strategic sourcing team will collaborate with your internal teams to ensure that efficiencies are achieved by consolidating scopes of work and providers, negotiating best-in-class agreements and pricing, and developing a rigorous continuous improvement program that will ensure sustainable results from your facilities maintenance suppliers going forward. Our strategic sourcing team's efforts ensure the recommendations we provide are customized to your specific needs, and include improving upon existing SOWs and identifying future requirements. Our team will work closely with your suppliers to implement any new programs or enhancements to current programs.
RICHHI MANAGEMENT SERVICES's strategic sourcing team can service all of your facilities maintenance needs, including:
• Waste Management - Solid, HazMat, and Recycling
• Industrial Waste Management
• Janitorial Services & Supplies
• Elevator Maintenance
• Landscaping & Snow Removal
• HVAC Maintenance & Supplies
• Pest Control
• Security Services
• Security Systems Maintenance
• Energy Plan Maintenance
• Window Washing
• Uniform & Industrial Rentals
• Food Services & Supplies
• Generator Maintenance
• Moving & Storage
• Fire Protection Services
• Utilities - Natural Gas, Electricity, and Alternative Sources of Energy
• Industrial Equipment Maintenance
Contact us today to learn more about how we can help your company with its facilities maintenance and management needs.
RICHHI MANAGEMENT SERVICES's fleet optimization experts can help you identify the most cost-effective vehicle products and services for your organization's unique fleet needs.
Whether you own or lease your fleet, managing the costs of this category can seem like a juggling act with individual components influencing one another. Changing your tire brand, for example, can have rippling effects into maintenance schedules, vehicle uptime, and fuel efficiency. Sole-sourcing your fleet from one manufacturer may reduce the skillset needed to maintain the vehicles and limit the number of replacement parts, but could have a negative impact on your operations as OEM recalls, bailouts, or compliance issues frequently emerge in this industry. Or, perhaps your organization needs to re-evaluate your fuel-card strategy to make room for alternative energy sources. With countless moving parts, interconnected silos, how can a single fleet manager be expected to manage these pressures on a limited budget?
RICHHI MANAGEMENT SERVICES is at your service! Our fleet sourcing experts understand that no two fleets are alike - each composed of vehicles serving specific business needs, with varied fuel and maintenance costs. We recognize that fleet sourcing initiatives must be customized to your unique fleet needs, which is why we take a comprehensive approach to optimizing your fleet operations, considering:
• Original Equipment Manufacturers
• Acquisition & Remarketing Structure
• Fuel -Card & Fuel Programs
• Administrative Functions
• Required Reporting
• Technology and Telematics
• Maintenance Programs
• Replacement Parts, Tires, and Disposables
Is your organization looking to transition to an eco-friendly fleet? Are you weighing the options between buying outright vs. leasing fleet vehicles? Are you interested in exploring alternative maintenance arrangements? Does your fleet fueling operations need to be centralized? Working alongside your procurement team, our strategic sourcing and fleet category experts will work to identify the right fleet management solution for your business needs, providing end-to-end support for your fleet sourcing initiative includingIdentifying Fleet
• Requirements such as fuel and maintenance
• Providing Fleet Management Benchmark Data
• Developing a go-to-market strategy
• Evaluating Sourcing Results
• Supporting Direct Negotiations
• Providing Strategic Advice and Decision Support
Our experts have supported countless fleet sourcing engagements and understand the complexities and cost drivers of fleet operations. We'll put to use decades of procurement best-practice, coupled with fleet management expertise to deliver budget optimization solution for your organization's fleet operations. Contact us our fleet cost reduction experts today to learn more about our strategic
Human Resource departments are challenged with standardizing and streamlining a variety of processes to support their organization. The role of HR is ever evolving, taking on additional tasks while remaining focused on managing the organization's talent and helping the workforce evolve to the present and future environments.
The HR team plays a strategic role in companies, creating and fostering a culture that drives the organization's performance. However, the HR team's time is limited and it can be difficult for them to find time outside of improving the talent pool to help deliver additional value to the organization's bottom line.
RICHHI MANAGEMENT SERVICES has the resources and expertise to help HR increase employee engagement while generating cost savings and value through our benchmarking and strategic sourcing services. Our strategic sourcing experts can assist organizations in building business strategies, reducing administration costs, and implementing a roadmap to manage and optimize the strategic goals of Human Resources.
RICHHI MANAGEMENT SERVICES has assisted many of our clients manage their spend across various HR categories, which include:
• Employee Recognition Programs
• Employment Screening Services
• Insurance and Benefit Programs
• Payroll Processing
• Relocation Services
• Talent Consulting Programs
• Temporary Staffing and Contract Labor Staffing
• Vendor Management Systems (VMS)
Our strategic sourcing consultants focus on the unique needs of your organization, developing and providing a customized approach for your HR department to drive cost savings and value. This approach includes:
A detailed spend analysis and contract audit to understand your profile and requirements. Based on this initial spend analysis, our sourcing team can prepare a strategy report with recommendations specific to your company.
Benchmarking services using our internal market intelligence to provide you with critical insight into how your current organization compares to your peers and competitors, as well as specific recommendations based on our expertise in the HR industry.
Full strategic sourcing initiatives encompassing market research, vendor identification, RFx, contract negotiations, recommendations, program implementation assistance, and ongoing audit and continuous improvement services.
The results of our process go beyond cost savings. RICHHI MANAGEMENT SERVICES looks to help demonstrate the value of HR programs to your organization. As part of our overall service offering, we work with HR teams to manage and build relationships with your providers to create value to your organization. Our consultants work with the HR team to understand your requirements and adapt to your culture. RICHHI MANAGEMENT SERVICES will provide recommendations to optimize the solutions you have in place and will leverage our unparalleled market intelligence to work with incumbent or alternate providers to develop best in class HR programs.
RICHHI MANAGEMENT SERVICES is the leading Procurement Services Provider, helping organizations optimize their IT spend to achieve savings, improve supplier relationships, and implement the best possible IT products and services.
RICHHI MANAGEMENT SERVICES's IT sourcing experts enhance the capabilities of your IT and procurement departments by providing on-demand resources and market intelligence to increase sourcing efficiency and maximize savings. Our strategic sourcing team can analyze your contracts and spend across your IT portfolio to pinpoint opportunities to improve quality and efficiency and reduce costs.
Our exclusive IT strategic sourcing and procurement consulting services will help you achieve and sustain spend effectiveness and efficiency for the following IT categories:
RICHHI MANAGEMENT SERVICES's IT sourcing solutions advance your IT program management.
We identify and negotiate with suppliers, but also remain involved to make sure your suppliers comply with terms and conditions. We'll also grant you access to proprietary cross-industry market data and share our decades of sourcing knowledge and lessons-learned from the most successful organizations worldwide.
Let RICHHI MANAGEMENT SERVICES's IT Strategic Sourcing Experts help you optimize your IT program management.
The MRO spend category encompasses a multitude of products, services and suppliers that are crucial to your facilities' day-to-day operations. With a large decentralized user base and millions of items and transactions, the MRO spend category has a high opportunity for cost savings utilizing RICHHI MANAGEMENT SERVICES's MRO strategic sourcing expertise.
Procurement teams responsible for MRO often struggle to gain control over fluctuating costs, product standardization, and site-level compliance. RICHHI MANAGEMENT SERVICES's strategic sourcing services for MRO provides your organization with the strategic sourcing resources and expertise needed to help your plant and facilities managers reduce costs through increased spend visibility, market intelligence, compliance tracking, and supplier optimization.
Through a comprehensive data collection and normalization process, RICHHI MANAGEMENT SERVICES's strategic sourcing team helps you gain a thorough understanding of your current MRO requirements from both a qualitative and quantitative standpoint. Not only does this provide more visibility into your MRO spend, but it provides a cleansed, line item-level detail data set for you to quickly understand and evaluate savings opportunities present within the spend.
By leveraging our extensive internal database, MRO category expertise, and knowledge of the MRO market, RICHHI MANAGEMENT SERVICES's strategic sourcing resources can quickly benchmark your current costs and help develop move-forward plans to optimize your MRO supply chain.
Besides driving competitive MRO pricing, RICHHI MANAGEMENT SERVICES works with you to:
• Provide expert data cleansing and normalization to help you easily manage millions of SKUs and itemize current price points across all facilities
• Gain control over your demand planning and inventory management through industry best practices like vendor managed inventory (VMI), inventory consignment, industrial vending, and order point optimization
• Take advantage of economies of scale through supplier consolidation and the establishment of a preferred supplier base
• Set up national account managers and local facility representation with suppliers in order to obtain increased service levels and support
• Streamline centralized billing processes to cut down on administrative costs
• Implement national agreements with suppliers to standardize pricing and ensure best-in-class terms and conditions
• Drive compliance through proper end user education within your organization
• Ensure compliance and pricing through continuous monthly auditing services, post-implementation
We provide MRO strategic sourcing services for these and more MRO subcategories:
• Electrical
• Lighting
• General Industrial
• Filters/HVAC
• Power Transmission & Bearings
• Pipes, Valves, and Fittings
• Fasteners
• Safety Supplies
• Cylinders and Gas
• Welding
• Abrasives
• Tools and Hardware
• Material Handling
• Fleet and Vehicle Maintenance
• Lab Supplies
• Paint, Equipment, and Supplies
• Office Supplies
• Paper Products and Janitorial/Sanitation
RICHHI MANAGEMENT SERVICES's strategic sourcing team works with you to evaluate and optimize your current MRO supply chain, providing clear strategies that will efficiently drive cost reductions, increase service levels, and drive compliance. Contact our MRO Category Experts today.
With close to 20 years of experience sourcing office equipment, our team can help to reduce costs, decrease inventory, consolidate equipment through multifunctional technologies, and help with vendor selection based on service requirements.
We provide cost reduction services for copiers, printers, equipment leasing, computers, servers and more!
RICHHI MANAGEMENT SERVICES can help standardize equipment purchases as well by understanding the functional needs of your internal business operations. Our inventory review will help clients identify the equipment each department or business unit is using, and evaluate the cost effectiveness and productivity of each piece of equipment.
The analysis also takes into account factors such as cost of ownership, maintenance programs and lease terms and conditions.
Performing an analysis of your inventory will allow us to understand the following requirements:
• Capacity
• Location
• Features (such as Network/Scanning, Color, Sorting/Stapling)
With access to your current lease agreements, RICHHI MANAGEMENT SERVICES has the ability to negotiate:
• Lease Term
• Maintainance Coverage
• Purchase Price
• Money Factor (Lease Rate)
• Lease Buyout
• Early Termination Charges
• Other Miscellaneous Charges (delivery, installation)
• Replacement Equipment
We Can Help:
• Perform Inventory Analysis
• Benchmark Service Requirements
• Identify Equipment Consolidation Opportunities
• Assess the Marketplace for Competitive Rates
• Review and Negotiate New and Existing Leases
• Implement Replacements of New/Old Office Equipment
Our Office Equipment Expense Reduction Services can be offered on a Contingency Basis
RICHHI MANAGEMENT SERVICES will customize a sourcing strategy that will include all the product specifications and unique quality or service factors for your office supply spend. During the process, we will provide a report that clearly compares our research of your existing program to best practices in the marketplace, giving you the leverage you need to execute profitable changes by reducing the cost of your indirect spend in office supplies.
We provide cost reduction services for paper, toner, equipment, office supplies, office furniture, printing services, custom branding and more!
Our team will help to identify the "core spend" within your office supplies categories, which typically consists of the top 60-80% of your total office supply spend. Identification of your core items, standardization of products, implementation of best-practice ordering habits, and negotiations will assist in driving the best possible value for each dollar that you spend.
Hard and Soft Dollar Savings Realization in Office Supplies is Obtained Through:
• A Baseline and Benchmark Analysis,
• Reduced Rates,
• Customized Online Development,
• Inventory Management,
• Contract Life-Cycle Management,
• Invoice Auditing,
• Compliance Reporting
We Can Help:
• Audit Existing and Prior Office Supply Bills
• Define Existing and Future Requirements
• Define Contract and Fixed Pricing Office Supply Items
• Select and Assist in Implementation of Online Ordering and Inventory Systems
• Analyze and Categorize Spending Patterns in Office Supplies
• Identify Areas of Improvement or Alternative Office Supply Items
• Assess the Marketplace for Competitive Office Supply Pricing and Deals
• Negotiate with Office Supply Companies
• Implement and Monitor Compliance from Suppliers and End Users Buyers
Contact us today to start saving on your office supply purchases.
Our Strategic Sourcing consulting services include benchmarking against the marketplace, supplier identification and rationalization, RFX management, contracting and negotiations, and procurement process improvement including e-Sourcing and Procure-to-Pay solutions.
Strategic sourcing is not a solo effort. We partner with our clients to drive value creation by leveraging our mutual time, knowledge-base, sourcing experience, resources and tools (WhyAbe.com & Expert Systems).
Strategic Sourcing is a process in which we harness the skills of the supply industry to best optimize sustainable and competitive advantages for our customers. Our process develops a secure and responsive supply base that is capable of providing quality, delivery, costs, technologies, flexibility and services to meet the current and future business needs of our clients. We have strategic sourcing solutions for businesses of all sizes, including the small to mid-market and the Fortune 500.
Our cost reduction initiatives include benchmarking current spends against the marketplace, spend analysis, supplier identification and qualification, strategic sourcing event management, negotiation with suppliers, and process/compliance improvement including e-Sourcing and Procure-to-Pay solutions as appropriate.
RICHHI MANAGEMENT SERVICES provides On-Demand resources to support your company's strategic sourcing initiatives. Whether you require resources, subject matter expertise, technology solutions, or access to critical marketplace data, RICHHI MANAGEMENT SERVICES can assist you in any part of your procurement project.
We have a built a database of price points covering hundreds of categories going back to 1992. Our goal is to help you obtain savings faster while improving all qualitative aspects of your relationships with your suppliers. Our services can be provided on a fee-for-service model, or you can lower your risk by choosing a contingency based (gain sharing) plan.
Our Strategic Sourcing Services provide clients with:
• Aggregated spends by commodity and category,
• Current contract costs, terms, and conditions,
• Product Specification including quality, availability and service requirements,
• Understanding of all fixed and variable cost drivers for total cost of ownership,
• Current Market Analysis,
• Recommended strategic sourcing strategies for cost reduction,
• Development and management of RFX or Reverse Auction events,
• Bid analysis and scorecarding,
• Recommendations for supply change,
• Final contracting and negotiations,
• Implementation support, and
• Ongoing audit and continuous improvement monitoring.
Learn More About Strategic Sourcing:
• See sample strategic sourcing categories and savings.
• On-demand Procurement Services and Solutions by RICHHI MANAGEMENT SERVICES.
• Detailed overview of RICHHI MANAGEMENT SERVICES and our sourcing services.
• Contingency based strategic sourcing consulting services.
• View a graphical overview of our Strategic Sourcing offerings.
COMPANIES FREQUENTLY OVERLOOK THE SUBSTANTIAL SAVINGS OPPORTUNITIES WITHIN THE PACKAGING AND SHIPPING SUPPLIES CATEGORY THAT CAN BE REALIZED THROUGH STRATEGIC SOURCING.
A product's success is greatly influenced by the appeal of its commercial or consumer packaging. But even before your product gets it front of the customer at the store, packaging is also integral to the transportation, storage, and handling of your product. Despite its importance to both the product's appeal and transportation, packaging is also a category that goes unmanaged. From protective, flexible, and custom packaging to kraft corrugated boxes, bubble wrap, stretch film, flexible laminates, and blister packs, RICHHI MANAGEMENT SERVICES's strategic sourcing services can help your organization reduce costs, increase quality and improve lead times for its packaging requirements.
At RICHHI MANAGEMENT SERVICES, we start our strategic sourcing process for packaging by understanding and adapting to your organizational structure and culture. Our strategic sourcing team then makes sure we understand the specifics of your organization's packaging requirements across internal departments to ensure our efforts will produce the optimal mix of products and suppliers at the lowest possible price. These packaging specifics include labeling, typical order volume & run size, average lead times, packaging material specifications, and environmental specifications.
Once our strategic sourcing team understands your organization's product packaging needs and practices, we comb the market to identify those quality, best-fit suppliers most capable of fulfilling the packaging needs set forth by your stakeholders. We compare these product packaging suppliers against one another to determine which meet your specific packaging requirements most effectively, then work with you to identify the best-fit supplier. Once a best-fit packaging supplier, or suppliers, are identified, our strategic sourcing team leverages our proprietary market intelligence and deep understanding of pricing fluctuations of the raw materials used in the manufacture of packaging materials - such as pulp and paper, petrochemical resins, and crude oil - to lock in the best price points available, or tie pricing to the applicable index to ensure the best pricing model possible.
In addition to our strategic sourcing team's subject matter expertise concerning raw material cost, our experts also review your product packaging materials spend in a comprehensive way to develop a holistic overview, which we then utilize to optimize your entire product packaging supply chain, driving consolidation and leveraging total volume with suppliers. This supply chain optimization service ensures that you will receive not only immediate cost reductions but long-term stability while streamlining your current supply chain operations.
RICHHI MANAGEMENT SERVICES's strategic sourcing initiatives identify savings within your product packaging supply chains by:
• Establishing proper reorder points
• Leveraging overall packaging material spend
• Consolidating packaging suppliers
• Establishing index-based price points
• Determining optimal run sizes for packaging production
• Implementing waste reduction strategies
• Negotiating with suppliers with a full understanding of market rates
• Developing annual tiered rebates with packaging suppliers
• Developing tiered pricing models based on run rate efficiency
• Reducing lead times
• Implementing VMI programs
RICHHI MANAGEMENT SERVICES's strategic sourcing services give you access to experienced procurement and sourcing resources that help you evaluate and optimize your current packaging supply chain. Our packaging sourcing team works with you to identify consolidation opportunities, leverage overall volume, and establish contracts or pricing agreements to lock in competitive pricing and realize long-term savings without compromising product quality or supplier service levels. Contact one of our strategic sourcing experts today to get started on reducing your product packaging costs!
RICHHI MANAGEMENT SERVICES provides practical guidance that will help you contract independent consultants and professional service providers and negotiate human capital agreements to your advantage.
Many organizations use professional service firms to support various components of their corporate strategy, from general management consulting to legal services, and even IT. As the use of third-party professional services providers increases, these firms can become strategic allies deeply embedded in a company's operations. To ensure the maximum value is achieved from these strategic relationships, it is important for a company to select the ideal professional services firm for their unique situation, and to negotiate a best-in-class contract.
RICHHI MANAGEMENT SERVICES understands the challenges associated with dealing with the professional services category, and, as a professional services firm ourselves, how necessary they can be to your company's operations. Our purpose is to help your organization sustain a competitive advantage by improving relationships with your incumbent professional services providers, or assisting you in the selection of ones better suited for your needs and corporate culture. Our strategic sourcing services provide the means to deepen relationships with incumbent professional services suppliers as well as the market intelligence and supplier identification services necessary to identify best-fit suppliers in the market.
Our strategic sourcing team takes a holistic approach to evaluate your organization's engagements with professional services firms beyond the pricing and performance dimensions. We look at the alignment of the services being provided by each professional services firm, conduct in-depth assessments of the teams and resources assigned to your account, and bring in real-time market intelligence to determine the financial competitiveness of your supplier relationships.
Our suite of strategic sourcing services will allow you to:
Analyze the professional services marketplace to understand characteristics and identify roadblocks such as international tariffs or regulations.
Establish professional services skillsets and determine if core competencies and service offerings are tailored to your organization’s needs.
Evaluate rate cards and pricing of the professional service resources and establish their competitiveness against the market. Determine if offshore or nearshore resources can be applied.
Identify incentives to improve relationships with your incumbent professional services suppliers, and consolidate your base of professional services firms.
Leverage any of your organization's strategic service requirements that may overlap with incumbent suppliers' capabilities.
Develop a benchmark for professional services, detailing rates, job descriptions, resource titles, and supplier base to ensure your company is receiving best-in-class service.
Negotiate and improve the contractual terms and conditions, pricing models (capacity-based vs. fixed pricing) and rates on agreements with professional services providers.
RICHHI MANAGEMENT SERVICES provides each of our clients with a tailored suite of strategic sourcing services that delivers exceptional value while comprehensively addressing each of their needs. Our industry expertise, in-house subject matter experts, and proprietary volumes of real-time market data combine to align services from consulting firms to your needs and requirements.
Our strategic sourcing model is all-encompassing, flexible and scalable, and will allow your organization to reduce the overall costs allocated to professional services while securing favorable contract terms and performance levels, and ensuring scope alignment, from the professional services suppliers.
RICHHI MANAGEMENT SERVICES's strategic sourcing team has assisted a multitude of clients with diverse professional service assortments and helped optimize their professional service portfolio across a wide range of categories that include:
• General Management Consulting
• Internal & Financial Audits
• IT Delivery & IT Strategy
• Marketing & Advertising
• Legal Advisory Services
• Strategy Consulting
• Healthcare Consulting
• Risk Management, Governance & Compliance
• Actuarial Consulting
Contact us today to find out how RICHHI MANAGEMENT SERVICES can leverage our strategic sourcing processes and expertise in professional and consulting services to optimize spend and secure favorable contract terms with your organization's professional services providers.
RICHHI MANAGEMENT SERVICES PROVIDES SUSTAINABILITY AND GREEN SOLUTIONS FOR COMPANIES LOOKING TO IMPROVE EFFICIENCY, REDUCE COSTS AND IMPROVE THE ENVIRONMENT
As environmental awareness and government regulations continue to increase, responsible businesses continually face mounting pressure to develop sustainable practices within their organization. RICHHI MANAGEMENT SERVICES's team of experts will leverage its cross-industry experience and expertise to improve your company's sustainability practices. Whether it be through renewable energy sources, waste reduction services, or improving the lifecycle of your facility, RICHHI MANAGEMENT SERVICES can help you implement a low cost sustainability program within your organization. We will develop and evaluate alternative green solutions and work with vendors to ensure that sustainable products and services are purchased at the most economical price available in today's market. By utilizing our best practices and leveraging our strategic sourcing market intelligence, your organization can go green with a neutral impact on your budget..
RICHHI MANAGEMENT SERVICES PROFESSIONALS WORK WITH OUR CLIENTS TO IMPLEMENT COST-EFFECTIVE AND ENVIRONMENTALLY FRIENDLY OPTIONS THAT WILL BE TAILORED TO YOUR ORGANIZATION'S NEEDS.
WE CAN HELP YOU ACHIEVE SUSTAINABILITY BY:
• Identifying and developing your company's green specifications and sustainable needs
• Introducing new sustainability ideas and methods to your supply chain
• Thoroughly analyzing and comparing prices of green versus non-green products or purchases
• Leveraging our market intelligence of eco-friendly alternatives to meet your company's needs
• Implementing and continually monitoring sustainable procurement and supply chain practices
It is a common misconception that sustainable solutions are more costly than traditional products due to the higher production costs involved. In many cases, it is possible to still achieve a significant percentage in savings when sourcing sustainable and eco-friendly products. It is best to have a procurement specialist on your side to identify alternative practices and collaborative suppliers who can also negotiate with those suppliers to find one best-suited to cater to your organization’s needs and provide the quality of services you expect.
Corporate travel program management is as much about compliance to corporate travel policies as it is to cost savings and efficiencies. By developing a strong Travel & Entertainment (T&E) policy, employee satisfaction will increase, your visibility into spend becomes available and ultimately cost savings and even budget projections become attainable.
According to American Express Business Travel, travel and entertainment now comprise 15% of all indirect operating expenses. RICHHI MANAGEMENT SERVICES's travel expense management solutions will help your organization develop, implement and manage an efficient, cost effective and comprehensive travel program across all of your locations as part of your strategic sourcing initiative.
We start by assembling a cross-functional team to include executives, executive assistants, road warriors, HR and any other employees who utilize or administer corporate policies. Upon creation of the team, RICHHI MANAGEMENT SERVICES will complete a comprehensive spend analysis as well as a full review of any corporate Travel & Entertainment Policies that are already created. Next, we will create a baseline report to encompass current agreements, spend, and policy review to show the full scope of your current travel program. Included in the baseline will be rates for airlines, hotels, car rental and Amtrak. Additionally, city parings for air travel will be identified.
We will conduct a RFP for Reliable Travel Agencies, with a focus on Service and Price:
• Dedicated Service Agents Configuration,
• On-line Booking Tools with Travel Policy Parameters (TPP),
• 24-hour in-house Toll Free, Global Coverage,
• Credit Card Reconciliation,
• Custom Travel Policy Administration,
• International Rate Desk / Visa & Passport Services,
• Blanket Discounts with Airlines, Car, and Hotels, and
• Other Services Important to Extended Team.
After administering the RFP, we will help you select the appropriate vendor by scorecarding and analyzing the responses. RICHHI MANAGEMENT SERVICES will then assist in final contract negotiation, and qualifying and implementing the selected agency.
RICHHI MANAGEMENT SERVICES will provide each of our clients with a tailored suite of strategic sourcing services that delivers exceptional value while comprehensively addressing each of their needs. Our strategic sourcing experts will allow you to:
• Analyze the travel industry and market to understand characteristics and identify roadblocks
• Establish full visibility into spend across your enterprise for all aspects of travel management
• Identify inefficiencies in sourcing methods and assist in streamlining purchases
• Leverage your total travel spend to drive decreased costs
• Negotiate and improve contract terms, pricing models and rates with all providers
• Develop a best in class travel management program.
Our industry expertise, in-house subject matter experts and proprietary volumes of real-time market data combine to align a tailored travel management solution to your needs and requirements. RICHHI MANAGEMENT SERVICES's strategic sourcing model is all-encompassing, flexible and scalable, which will allow your organization to reduce the overall costs allocated to travel services while securing favorable contract terms and performance levels, all while ensuring employee satisfaction and compliance.
In addition to travel management, you may want to consider looking Ghost Card Programs to manage travel spend or a Purchasing Card Programs for your small dollar spend.
By creating a travel management program, you can ensure compliance and safety for your employees while at the same time streamline processes and drive savings to your bottom line. Contact RICHHI MANAGEMENT SERVICES's travel category experts today to get started.
Energy pricing can be both volatile and complex to source. RICHHI MANAGEMENT SERVICES can help by developing strategic sourcing initiatives that allow customers to choose competitive and effective utility suppliers in the marketplace.
We provide strategic sourcing and cost reduction services for all utilities: energy, electricity, natural gas, propane (lp), and oil.
We continuously track market conditions, futures and trends. Electricity savings can be identified by identifying low energy consumption periods or peak decline periods and moving quickly to lock in on rates. RICHHI MANAGEMENT SERVICES will help you identify when that time is right for your business. In addition, RICHHI MANAGEMENT SERVICES will provide you with a usage and pricing profile of your existing utilities as well as a savings assessment based on current market conditions.
Energy Cost Savings can be Achieved Through:
• Vendor Consolidation,
• Location Consolidation,
• Competitive Bidding (in deregulated markets),
• Rate Structure and Term: (Fixed vs. Variable),
• Additional Incentives: (Riders, Programs and Promotions)
We Can Help Reduce your Utility Costs By:
• Auditing Existing Energy Tariffs and Rate Placement
• Benchmarking Your Usage Profile
• Determining if it is the Right Time to Lock-In
• Assess the Energy Marketplace for Competitive Deals
• Identify New Savings Opporunities
• Implement New Energy Programs
• Identify and Deliver Green Energy Initiatives
What you need to know:
States can be either regulated deregulated, or have partial choice options.
If a state has regulated electricity, there is no competition. This means that the current provider (the utility) is the only company that can provide energy to our client. In this case, a sourcing event will not take place, but there are other opportunities for savings.
If a state has deregulated electricity, private companies can compete with the public utility, and a sourcing event can take place. The competing companies are called energy marketers, retailers, or third-party providers, and these third parties either produce energy in their own plants or buy large blocks of energy at discounted rates for the purpose of resale.
Learn more about natural gas regulation on a state by state basis. Get in touch with us today to get started with your energy bill cost reduction program.
Organizations can routinely find cost savings to their bottom lines by outsourcing their product manufacturing to a contracted manufacturing company. These savings in production costs are necessary in today's demanding and low-margin market. But identifying the ideal contract manufacturer for your organization's production needs can be difficult given the hundreds of third-party manufacturers in the market, each with unique capabilities and limitations.
RICHHI MANAGEMENT SERVICES's strategic sourcing consulting services can help. Our proven combination of deep market intelligence, subject matter expertise, and strategic sourcing best practices has helped us identify the ideal contract manufacturing organization (CMO) for numerous clients. By identifying the proper CMO for our clients, RICHHI MANAGEMENT SERVICES's strategic sourcing team helps them reduce costs, eliminate risks within their supply chains, and creates competitive advantages.
Let our strategic sourcing experience drive down your contract manufacturing costs and ensure that you engage the right contract manufacturing organization for your needs.
In our more than two decades of service providing strategic sourcing and procurement services, working with hundreds of companies in dozens of industries, RICHHI MANAGEMENT SERVICES has developed a suite of adaptable, customizable strategic sourcing, cost reduction, and spend management solutions that we will tailor to your organization's specific needs as we identify the most ideal contract manufacturing solution for you. We will:
Develop a holistic view of your company's operations, and a full and comprehensive understanding of your organization’s needs and requirements for a contract manufacturer
Research the market to determine which contract manufacturing organizations best suit your organization Identify those third-party manufacturers capable of carrying out all unit operations in-house, where possible, to save you time
Identify those contract manufacturer facilities with the equipment necessary to manufacture your product at the desired volume
Ensure that the identified CMOs have the correct and necessary certifications and well-developed quality systems in place to support global applications
Compare and benchmark each supplier's pricing for each phase of the technology transfer process Initiate and develop relationships with the CMOs, and begin and cultivate productive dialog between your organization and theirs Equip you with strategies to centralize, control, and maintain your bill of material (BOM) data to limit errors, reduce waste, instill higher quality, and ultimately control costs
RICHHI MANAGEMENT SERVICES's strategic sourcing approach saves you time and provides your decision-makers with a clear picture of the suppliers in the market
As part of our strategic sourcing process, we profile a vast array of contract manufacturing organizations to give you a wide angle view of supplier capabilities with an initial Request for Information (RFI) phase. This RFI allows for the categorization of each contract manufacturer's capabilities without disclosing your proprietary information, limiting intellectual property risk. Once the initial RFI is complete, RICHHI MANAGEMENT SERVICES will initiate the first round of supplier validation and vetting with your stakeholders. We will then work with you to refine the detailed questions that will be issued to the remaining contract manufacturers as part of a more in-depth Request for Proposal (RFP). The RFP includes a technical brief on your product to ensure the most accurate pricing proposals from the CMOs.
RICHHI MANAGEMENT SERVICES's RFPs are thorough, and seek information on a variety of the contract manufacturer's capabilities, including:
Business Considerations
• General capabilities
• Financial viability
• Annual revenue
• Production capacity
Product and Market Considerations
• Technical capabilities
• Quality systems
• Implementation approach
Quality Components
• Good Manufacturing Process (GMP) compliance
• Standard operating procedures for all functional areas
• Purchasing controls
After the RFP is complete and all potential CMO proposals have been submitted, the next step of the strategic sourcing process involves your decision-makers sitting down with RICHHI MANAGEMENT SERVICES's sourcing team to identify which of the bidding CMOs will be considered finalists. RICHHI MANAGEMENT SERVICES will offer guidance and make recommendations, but your organization's decision is final. Once a decision has been made, RICHHI MANAGEMENT SERVICES's strategic sourcing team will leverage our unparalleled volumes of real-time market intelligence against the potential CMOs proposal to secure additional benefits, including efficiency gains, service level improvements, and secondary and one-time cost savings opportunities.
Choosing the right contract manufacturing organization can create a number of competitive advantages for your company. Gaining exclusive access to manufacturer innovations, using cost-cutting technologies, reducing lead times, and buying out a CMOs capacity are just some of the potential competitive advantages awaiting a company that gains an ideal partner through the CMO relationship. Let RICHHI MANAGEMENT SERVICES help you make as informed a decision as possible, and create a lasting impact in the marketplace, when you select your next contract
Since 1992, RICHHI MANAGEMENT SERVICES has helped hundreds of companies identify supply and reduce their costs of direct materials, goods and services. From steel to chemicals and semi-finished machined parts to entire high-end finished assemblies, we have experience in just about every spend category imaginable.
We offer solutions to help you source your direct materials. Low-cost country sourcing, near-shoring, off-shoring, developing nations or local supply, we have sourced it all. We can help with any aspect of your direct materials sourcing initiative, from supplier identification through RFP, negotiations, supplier qualifications & implementation.
RICHHI MANAGEMENT SERVICES understands that the procurement of direct materials must be directly linked to customer satisfaction. If an inexpensive alternate product is in any way inferior to the product it replaces, then the cost saving benefits do not outweigh our customer's, and their customer's, ultimate satisfaction.
Our goal is to help you find the right supplier, in the right geography at the right price to deliver you quality and dependable direct goods, direct service and raw materials that you use in your end offering. We are often able to accomplish cost reduction while simultaneously maintaining or improving your quality and lead times.
Example Direct Spend Engagements:
• Bench-marking Direct Material Purchases and Performance,
• Cost Modeling and Cost Optimization for Direct Materials,
• Raw Material Index Tracking,
• Supplier Identification Services,
• Supplier Qualification Services,
• Near Shore or Off Shore Low Cost Country Sourcing,
• Feasibility Reporting,
• Prototyping,
• Total Supply Chain Strategy,
• Logistics and Brokerage,
• Contracting & Negotiations,
• Manufacturing Implementation support, and
• Ongoing audit and continuous improvement monitoring.
Examples of Direct Material Projects:
• Raw Materials and Minimally Processed Materials including: Metals, Chemicals, Pulp, Rubber, Oils, Plastics, Resins, Wood, Etc.
• Finished Goods such as: hand tools, machined goods, containers, apparel, assembled electronics.
• Semi-Finished Goods such as: castings, sub assemblies, molded parts, electronic boards, machined parts and housings.
• Outsourced Services such as: call centers, telecommunications, customer service.
RICHHI MANAGEMENT SERVICES's Procurement and Engineering experts can help your company reduce costs, increase value, and enhance the stability of your Electrical Manufacturing Services (EMS) and PCBA spend category.
Controlling costs for complex direct materials in the Electrical Manufacturing Services Category (Printed Circuit Board Assemblies (PCBAs), Wire Harnesses, Box-Builds, and other Electromechanical Assembles) is a challenge for procurement professionals. Year over year price increases in both materials and labor, changes in designs, and quality issues all impact the budget and ultimately the cost of finished products.
RICHHI MANAGEMENT SERVICES Can Help.
Our team of EMS strategic sourcing experts understand critical cost reduction strategies such as gathering market intelligence, consolidating spend from low level suppliers in order to leverage the full business opportunity and negotiating power of combined material costs, managing design-driven pricing with DFM and VAVE/PPV programs, optimizing the EMS supply base to match requirements, and managing quality (QA/QC) issues impacting production lead times by diversifying the supply base or initiating risk mitigation programs that include safety stock and obsolescence considerations.
Data Gathering and Compilation
• Gather PCBA specifications from engineering, ensuring bid can be performed with multiple suppliers by using platform-independent Gerber files or by transitioning from manufacturer-owned designs
• Organize design files into bid packages with other layout drawings and create BOMs for ease of pricing each component in the assembly
• Separate PCBA material costs from labor, overhead and markup or identify alternate components (design for manufacturability - DFM) to minimize manufacturing/assembly time
• Identify unique features of each circuit board such as oversize substrate, large backplane, conformal coating requirements
• Identify inspection/test requirements such as visual inspection, functional, in-circuit
• Complete non-recurring engineering (NRE) estimates of tooling, jigs, solder masks
Supplier selection, matching, and relationship building
• Identify manufacturing regions for low-mix/high volume and high-mix/low-volume considerations - Mexico, Europe, China, Taiwan, Singapore, Malaysia
• Explore near-shoring and off-shoring partner selection and relationship building
• Develop strategic partnerships with Contract Manufacturers (CMs) for PCBAs and box-builds or finished assembly construction
RFP Process and Negotiations
• Determine supplier service offering, quality management programs, capacity and capability limitations
• Submit Request for Quote (RFQ) to gather pricing/savings tiers and optimal order/build/release schedules that match component tier pricing and efficient production lot sizes
• Gather recommendations and pricing for lower cost or more readily-available components (especially for obsolescence program parts)
• Request estimated NRE costs for new fixturing/tooling that minimizes manufacturing cycle times and weigh costs against tooling transfer costs, if applicable
• Utilize pre-production bids to determine best price breaks based on minimal volume commitments
• Understand risk mitigation strategies through stocking programs for long lead parts generating emergency stock or safety stock
• Assess the supplier's own supply chain and ability to leverage existing client relationships/volumes with manufacturers to provide best in class component pricing
• Conduct open PO negotiations and establish good faith agreements, committed and informal non-committed blanket PO and forecast management
• Evaluate final mix of component supplier and subcontractor selection, domestic and offshore manufacturing, sheet metal fabricators, and machine shops
Implementation
• Complete facility and supplier audit
• Develop Master Services Agreement (MSA) to optimize raw material and finished goods volume commitments
• Establish a transition plan and manage to a fixed timeframe in order to minimize costs associated with NREs and inventory buy-outs
• Track pricing and quality during new supplier phase-in period to make sure the full savings opportunity is attained
• Implement inventory management - VMI, Kanban-JIT, consigned inventory, projecting and coordinate inventory level changes and release quantities
• Stand up QA/QC and inspection process
Take the first step in enhancing your EMS and PCBA category performance and achieving sustainable cost savings. Contact RICHHI MANAGEMENT SERVICES's electrical manufacturing service category experts today.
Bridge the gap between Engineering and Sourcing to combat price volatility, uncover cost savings, and design sustainable products with RICHHI MANAGEMENT SERVICES's multidisciplinary direct spend sourcing services.
In today's complex global market, manufacturers struggle to discern the best way to reduce or even just maintain their cost of goods sold (COGS). Simply put, the more hands that touch a product as it works its way through development, marketing, sales, engineering, and quality assurance, the more expensive that product becomes. Each of these departments can inadvertently add unmanaged costs and contribute to an over-engineered product that can't sustain itself. And when a good supplier relationship is not established, companies miss out on opportunities to innovate and control costs at their point of origin. Without a sourcing representative involved in the entire product lifecycle, manufactured goods or services often have cost structures that can quickly spiral out of control - creating ripple effects throughout the company's supply chain operations and damaging the bottom line.
Overcoming this challenge for engineered products requires an approach that goes beyond traditional spend analysis and bidding processes. That's where RICHHI MANAGEMENT SERVICES comes in, with multi-disciplinary collaboration and problem solving techniques backed by decades of industry and market intelligence. Where internal resources are constrained, RICHHI MANAGEMENT SERVICES's on-demand experts ramp up quickly to enhance innovation and mitigate risk. Our Engineered Products and Direct Spend experts know how to navigate complex product lifecycles and have helped dozens of industry leaders phase in lower cost materials and execute design changes with minimal disruption to production and sales activities. With our skills in supplier management, we can show you how to engage your critical suppliers and leverage their market expertise to reveal innovations and cost savings.
Reducing costs and securing supply chain operations for engineered products and direct spend requires a focus on key controllable elements:
• Fundamental product and component design
• Supplier identification and qualification
• Manufacturing processes
• Logistics (inbound and outbound)
We start by assembling a cross-functional team that not only ensures sponsorship and buy-in but also establishes a common ground between traditionally siloed organizations:
• Sourcing and Procurement
• Finance
• Engineering
• Product Managers
• Sales Force
Utilizing industry-proven techniques such as purchase price variance (PPV) analysis and value analysis/value engineering (VA/VE), RICHHI MANAGEMENT SERVICES's engineered products and direct spend management services bring out the best in your procurement organization along with the best in your engineering department.
RICHHI MANAGEMENT SERVICES understands that PPV can be caused by a number of reasons including misaligned FIFO or LIFO accounting practices, inadequate demand forecasting, and inaccurate volume assumptions. Using PPV, our Engineered Products and Direct Spend experts identify commodity price deviations from an established tolerance - and thus target those areas for remediation.
Through VA/VE, our commodity price volatility management experts help you identify opportunities to improve product quality and strengthen relationships with key suppliers. Implemented with a structured approach, VA/VE focuses on the primary and secondary functions of each component (required vs. aesthetic vs. extraneous) for a given product. Using VA/VE, our engineered product experts help you find opportunities to remove unnecessary components, substitute more cost-effective or secure elements, establish tighter standards, improve reproducibility, and enhance quality and therefore end user satisfaction.
Don't spend any more time wondering if there's untapped value within your product lines. Contact our direct spend and engineered products experts to learn more about how we can help your company.
RICHHI MANAGEMENT SERVICES's Strategic Sourcing Experts can help you identify and execute cost savings initiatives and deliver greater value in the Laboratory Supplies & Testing Services category.
The Laboratory Supplies & Testing Services Spend Category is not one with which most Procurement professionals are intimately familiar. Controlling costs within the lab supplies & testing services category often becomes an exercise of choosing between a couple of rocks and a few other hard places. You could attempt to manage each individual laboratory supplier's spend, or you could try to focus only on managing or evaluating large contracts. Or you could just allow the laboratory and testing personnel to order and purchase of their own accord, and potentially incur very high costs.
As a strategic sourcing professional, you know that consolidating the laboratory supplies and testing services supply base would offer the opportunity to negotiate best in class pricing and discount structure . With a manageable set of preferred suppliers, you could ensure consistent pricing and direct laboratory personnel to a single source for ease of managing spend, ordering process, delivery, and inventory. And if you had the right strategic sourcing team at your fingertips, you could explore how outsourced testing services could avoid labor and supplies cost overruns and guarantee both accuracy and repeatability without extensive capital equipment investment.
RICHHI MANAGEMENT SERVICES can help - giving you access to an entire team of Strategic Sourcing professionals with direct experience in the Lab Supplies & Testing Services category.
Our Direct Materials Cost Reduction Team has adapted RICHHI MANAGEMENT SERVICES's proven strategic sourcing process for the complex Laboratory Supplies & Testing Services spend category:
• Baseline current spend, contracts, and supplier capabilities associated with both capital equipment and consumable laboratory supplies across multiple facility locations and disciplines
• Benchmark current spend and pricing against market intelligence to determine savings opportunities by both commodity groups and manufacturer discounts offered by distributors vs. manufacturers
• Match laboratory needs to supplier core capabilities to maximize efficiencies and quality of service (test times, core product offering, house brand alternatives)
• Evaluate of incumbent lab supplier's renewal proposals as they relate to current market conditions and possible economic inclusion opportunities
• Identify alternate suppliers that service clients in current and like industries which include discount and niche or minority suppliers for specialty products and diversity initiatives
• Determine total testing costs as they relate to in-house testing which SOP review to determine resources, test times, facility overhead costs, and materials consumed
• Compare testing methods, device sizes and sample size rates
We capture feedback directly from the research teams concerning the current state of the lab supplies and services supply base and spend profile, including their suggestions for modification of lab product or service offerings to ensure all research and specialty product needs are met. Our lab supplies and services procurement experts understand how strong customer and supplier interviews can affirm purchasing's commitment to the research teams they service and lead to more detailed and effective laboratory services and supplies strategic sourcing.
Contact RICHHI MANAGEMENT SERVICES's Lab Supplies Experts today to get more value out of your supply base and keep your lab personnel happy at the same time.
For companies looking to enable and optimize the manufacturing process with best-fit software and hardware, RICHHI MANAGEMENT SERVICES's strategic sourcing experts can help to develop manufacturing requirements, match suppliers and solutions to your manufacturing needs, and provide insight into the best manufacturing systems and pricing available.
Updating your manufacturing process by investing in Smart Manufacturing can help control operational costs and recoup higher profit margins. Customer and industry demands are forever changing, which challenges a traditional manufacturing process to shift quickly to meet those demands. Manufacturing Execution Systems enable you to have real-time monitoring of the manufacturing floor as well as the ability to implement batch traceability into your process.
RICHHI MANAGEMENT SERVICES's IT procurement experts are experienced in working with companies who have complex manufacturing processes and infrastructure. When exploring the manufacturing system solutions available in the market, there are multiple parts to successfully implementing IT solutions to move to a leaner manufacturing process. RICHHI MANAGEMENT SERVICES's Manufacturing Systems Strategic Sourcing Team is here to provide the necessary subject matter expertise to ensure that any hardware or software that is sourced aligns with your business requirements and enables the process to run more efficiently and drive down costs.
With RICHHI MANAGEMENT SERVICES's Manufacturing Execution System Strategic Sourcing help, our clients have achieved:
• Greater Visibility into and control over the manufacturing process
• Enhanced ability to track production and manage inventory and demand
• Higher quality finished products
• Reduction in defective products
• Lower per-unit costs
We have experience sourcing large scale solutions that will track production, inventory management, demand management, CRM, financials, etc. This would provide a full-spectrum solution for your business and with our negotiating and contracting expertise, we can ensure the relationship with these suppliers starts off on a positive note.With decades of experience, RICHHI MANAGEMENT SERVICES's Manufacturing Execution Cost Reduction Team is the ideal partner for companies involved in manufacturing that are looking to introduce and/or expand technology within their process to cut spend and maintain their competitive edge. Our IT strategic sourcing experts can provide the insight to help companies optimize their manufacturing process, increase value, and reduce costs. Contact RICHHI MANAGEMENT SERVICES's Manufacturing Systems procurement team today.
RICHHI MANAGEMENT SERVICES's engineers and procurement experts help global companies reduce costs and enhance quality in the complex optics spend category.
Sourcing optical instrumentation and components of the right quality and at the right price can present a daunting challenge due to the technical and seemingly custom nature of the product base. Your company's requirements may necessitate a combination of catalog or off-the-shelf components - with value-adds such as custom coatings, or completely custom made-to-order components and assemblies. You may require optical assemblies and components for highly specialized applications such as Optical Coherence Tomography (OCT), laser-microscopy, neuroscience, medical imaging instrumentation, etc.
With our Science and Engineering backgrounds and industry specific knowledge, RICHHI MANAGEMENT SERVICES's optics cost savings team can help. Our subject matter experts can identify critical specifications and utilize a database of market intelligence to streamline finding the right strategic partner and building long term mutually advantageous relationships - all at prices your company can afford. RICHHI MANAGEMENT SERVICES's optics experts possess a broad range of experience in managing quality and costs for all the following optics commodity groups:
• Lenses, (plano, spherical, aspheric)
• Lens assemblies
• Mirrors
• Prisms
• Filters / diffusers (bandpass)
• Beamsplitters (dichroic)
• Photomasks
• Custom coatings ( Anti-Reflective (AR) )
• Opto-mechanical assemblies
• Opto-electrical assemblies
Our team's budget-optimizing process begins by identifying opportunities for spend consolidation and savings. To do this, our experts analyze your current optics components and assemblies spend and supply base to produce the "baseline," which includes the classification of parts along with their historic ordering and delivery patterns, as well as supply base profiling, qualification, and expansion opportunities. Next, RICHHI MANAGEMENT SERVICES calls upon its expertise, scientific background, and history of success in collaborating with Engineering departments to gather, and improve technical specifications. Then, our quality and cost optimization experts leverage the RICHHI MANAGEMENT SERVICES database and network to identify optical component suppliers who possess the required capabilities and necessary materials (e.g., glass and glass types), and who clearly demonstrate the qualitative standards appropriate for your unique product.
| Technical Specifications, including: | Materials, including: | Standards, Including: |
|---|---|---|
|
• Specification / drawing grouping by assembly • File cleansing (STEP, IGES, DWG, SLDPRT) • BOM cleansing, creation, and component manufacturer identification • CAD/CAM/Optical Design verification (Zemax, OSLO, AutoCAD, SolidWorks) |
• O'Hara • Schott • CDGM • Hoya • Acrylics • Fused Silica |
• ISO 9000 • ISO 13485 • ITAR • Medical Device and FDA Registration • Incoming inspection, verification, or certification of melt data |
After verifying and compiling a complete set of bid package documentation, we submit an RFx to the incumbent and alternate optical materials suppliers. We then facilitate the entire response submission, price validation, and market assessment activities - finally delivering to you the best-fit optics supplier(s) as well as recommendations for best-in-class terms and conditions.
Apart from the end-to-end standard strategic sourcing process for optics, RICHHI MANAGEMENT SERVICES has a variety of a la carte service offerings to fit your cost reduction needs in the optical components category:
• Supplier Identification
• Domestic manufacturing facilities fabricators
• Domestic with overseas facilities to reduce manufacturing costs
• High-mix / low volume, or high volume manufacturing
• Low-Cost Country Regionalization reporting
• Outsourcing and sub-contracting of development and manufacturing services
• Optimization of batch sizes to increase production efficiency
• Engineering design and value added services
Our engineers and sourcing experts can also work with your optics suppliers and your internal team to develop project plans for incoming inspection and validation, track the ECO/MCO process, and phase in new optics suppliers through cut-in forecasting and tracking. For continued improvements and manufacturing value-adds, we also match the VMI and fulfillment needs to the capabilities of the supplier from same day / next day shipping to inventory consignment / hold agreements and JIT / Kanban systems
Sourcing these complex direct materials at the best price can be a very challenging undertaking, with your procurement team tasked to make sense of all the catalog and custom designed optical components and assemblies available. Trust our team of engineers and optical assemblies and components experts to help you identify the best possible products, from the best possible providers, at the best possible price. Contact our optics category cost savings experts today.