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Lockerbie & Co. Saves Clients Millions by Optimizing Tail Spend Management
News provided byLockerbie & Co.
Nov 21, 2023, 5:00 AM ET
PASSAIC, N.J. , Nov. 21, 2023 /PRNewswire/ -- Lockerbie & Co., a leader in procurement consulting, proudly announces its year-over-year track record of reducing millions of dollars for their clients by optimizing tail spend. Lockerbie specializes in improving a company's EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) by optimizing costs, enhancing operational efficiency, and mitigating risks to help them position for strategic initiatives such as an acquisition, IPO(initial public offering), and merger.
Tail spend, often comprising a significant portion of overall expenditures, encompasses low-value purchases that collectively impact the bottom line. Recognizing the potential for improvement, Lockerbie & Co. implements a strategic approach to address this area, resulting in remarkable cost reductions and operational efficiencies for their clients. For every 1% reduction in costs Lockerbie sees a minimum of 1% improvement of their clients' EBITDA.
Through meticulous analysis and innovative procurement strategies, Lockerbie identified opportunities within their clients' tail spend. By consolidating suppliers, negotiating favorable contracts, and leveraging technology-driven solutions, the consulting firm consistently achieves substantial cost savings without compromising quality or service delivery for their clients.
"Our commitment to optimizing tail spend management underscores our dedication to operational excellence and financial prudence. This initiative is a testament to our agility and resourcefulness in ensuring sustained growth and profitability for our clients," said Stephanie Lokker, CEO of Lockerbie & CO.
The streamlined approach not only reduced expenses but also enhanced overall procurement processes, fostering stronger supplier relationships and increasing transparency and leverage throughout the supply chain. This proactive approach aligns with Lockerbie's overarching goal of delivering value to our clients while ensuring they maintain a competitive edge in the market.
With these successful strategies in place, Lockerbie & Co. continues to be a leading global management consulting firm that specializes in increasing profitability and company valuation.
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About Lockerbie & Co.: Lockerbie, a leading procurement consulting firm, plays a crucial role in improving EBITDA by focusing on cost optimization, risk mitigation, efficiency enhancement, and strategic supplier relationships for their clients. Effective procurement practices can lead to cost savings, increased profitability, and ultimately contribute to the financial health of a company.
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SOURCE Lockerbie & Co.
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