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How does it lead to cost savings in the procurement process

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How does it lead to cost savings in the procurement process

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  1. Q &A

  2. HOW DOES IT LEAD TO COST SAVINGS IN THE PROCUREMENT PROCESS?

  3. AIMDRIVE-AI SOLUTION: Cost savings in the procurement process start with identifying critical spend categories and performing detailed price and cost analysis. Price analysis helps compare current prices with market benchmarks, ensuring competitiveness and identifying negotiation opportunities. Tracking price trends over time also highlights whether suppliers’ prices align with industry averages. Tools like AIMDRIVE-AI provide real-time market price data across various industries, simplifying this benchmarking process.

  4. AIMDRIVE-AI SOLUTION: Cost analysis is particularly valuable for custom or non-standard purchases where market benchmarks may not exist. Understanding cost structures — such as raw materials, labor, and overhead — enables businesses to estimate a fair price using Should Cost Models. These models break down expected costs, allowing for better negotiation when supplier quotes seem inflated. AIMDRIVE-AI automates this by generating cost breakdowns and BOM estimates, making cost analysis faster and more accurate.

  5. AIMDRIVE-AI SOLUTION: By combining price and cost analysis, businesses can ensure they are securing the best possible pricing while identifying savings opportunities across key spend categories.

  6. AIMDRIVE-AI SOLUTION: ? AIMDRIVE-AI: https://aimdrive.com/ AIMDRIVE-AI

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