A cost advantage is the competitive edge, or advantage, gained due to lowering a products or service’s price point through economies of scale or other cost-reduction approaches.
Traditional approaches to cost reduction are predominantly reactive and focus on “top slicing” across the organization, which implies taking a part of the budget and allocating it to a specific project. This, however, means that the cost advantage is often short-lived. A better approach is to opt for cost optimization tools such as should-cost modeling and demand planning amplify agility and scalability, accelerating profitability and growth, thereby enabling the enterprise to leverage the cost advantage for sustained periods.
Read more to learn about GEP’s should cost analysis services.
GEP SMART is an AI-powered, cloud-native source-to-pay platform for direct and indirect procurement. GEP SMART offers comprehensive source-to-pay functionality in one user-friendly platform, inclusive of spend analysis, sourcing, contract management, supplier management, procure-to-pay, savings project management and savings tracking, invoicing and other related functionalities.
GEP NEXXE is a uniﬁed and comprehensive supply chain platform that provides end-to-end planning, visibility, execution and collaboration capabilities for today’s complex, global supply chains. Built on a foundation of data, artiﬁcial intelligence and cognitive technologies, GEP NEXXE helps enterprises digitally transform their supply chains and turn them into a competitive advantage.