Lucy Day Jul 19, 2021 9:24:00 AM 4s min read

Insight is Only as Good as the Action You Take from It

Back in the last half term, my two nephews came to stay, so I had 3 boys to entertain for a whole week! Being mindful I didn’t want them to zone out in front of a TV playing Xbox all day, I set to work on planning some fun things to do. One of these things was bowling!

I hadn’t been bowling in years (because I am rubbish at it), so it came as quite a shock to me when I got to the checkout and saw the overall total for 5 players for two games. But then I saw an offer pop up across the top of the website whereby you could save 50% over half term if booked before a certain date, and was delighted to see the cost halved when I entered the promo code! With this trip costing half of what I expected, it enabled me to book another trip out to the Cinema to watch Peter Rabbit 2 (very good watch if you’re interested!). The kids were happy, and so was my pocket. My pride, however, wasn’t, having come last in both games against an 8, 9, and 13-year-old. I think I need to re-think my nickname, Lucky!

The thing is, we want to be told where we can save money, but it’s never that easy in the professional world to unlock. Imagine you’re a multi-site organisation spread across the UK, each has the ability to purchase items, each uses a number of suppliers for certain categories like office supplies, and ICT, and there is no centralised reporting. How then do you know whether each site is a) using the preferred supplier which may have negotiated special pricing for you b) whether there are any price differentials on identical items, c) compare how much each is spending on the same category. The simple answer is: You don’t, or you spend weeks and weeks trying.

lucy keyboards

 

Let us put this into figures. Imagine the organisation above has 50 sites, and each are purchasing 10 keyboards a month. 30 are buying keyboards at £39.99 and the other 20 are buying them at £15.99. The 30 sites buying the more expensive option are costing this business an additional £7,200 per month, which is £86,400 every year. And that is just for one item in one category… What else could be going on? 

Read the full article on Lucy's LinkedIn...