Smart Procurement Process by TWS -
how game theory and data insights generate negotiation power
Game theory has proven its ability to provide competitive advantages in structuring cross-functional purchasing processes in procurement organisations. With the Smart Procurement Process (SPP) by TWS, we go one step further.
With our methodology, we optimise the entire procurement process - and hence provide the basis for digitalising sourcing processes and creating sustainable competitive advantages. With the SPP, we not only improve individual awarding processes, but also implement an early warning system across all procurement activities. This allows you to act, rather than simply react.
The importance of this is demonstrated by a recent survey among CPOs and CFOs: A modernised procurement process is seen as an elementary building block in coping with future challenges (to the survey results).
A Smart Procurement Process designed and tailored by TWS to your company will help you in tackling these future challenges, alongside the targeted use of game theory. Not only do we ask the right questions, but we also work with you to develop the answers - early enough to open strategic decision-making options at a time when markets, competition and commodities can still be influenced.
The SPP is designed in such a way that it extends the internal decision-making processes with individually tailored incentives, therefore optimally designing the "internal game". A diagnostic and forecasting system analyses process data in a targeted manner, using predictive procurement methods to turn it into smart data - this data helps to continuously improve your organisation.
TWS partners gives you a novel overview, meaningful insights, and works with you to efficiently achieve your goals of being “on time”, “on cost”, and “on quality” more frequently!
In a nutshell: the SPP by TWS
The Smart Procurement Process (SPP) by TWS creates negotiation power through the targeted use of game theory and generation of smart data.
The role of procurement is redefined - equipped with smart processes and greater purchasing power, it becomes the company's core value driver.
What should the ideal procurement process look like in 2020?
Our white paper gives you an overview of what should be redesigned, which methods are used and what results the Smart Procurement Process delivers.