- Are we operating efficiently and controlling wastages, spoilage & overtime etc?
- Are we monitoring our costs effectively through reliable and timely management Reports?
- Have we bargained a right purchase price from our suppliers?
- Can we further reduce our costs?
TAG Consulting (Pvt.) Ltd.
RISK ADVISORY & INTERNAL AUDIT
Management Concerns
Cost Control
Cost Control
Procurement Reviews
Our Professionals conduct spend and procurement reviews to assist our clients in identifying areas of financial leakage, (e.g., overpayments or incorrect charges, unused credits, duplicate payments and lost discounts), and procurement process improvements.
Associated Risks
- Informal selection of suppliers i.e. lack of market research, competition, transparency & SOP
- Overdependence on Single Source of supply may result in higher costs
- Incorrect payments, early payments to suppliers resulting in loss of revenue
- Inadequate monitoring of price changes, Cost variances & payment terms, i.e. discount & Due dates
- Over Payments, Lost discounts, Unused Credits limits, Incorrect Charges
Our Related Services
- Spend Analysis
- Review of Purchase process and controls
- Procurement Audits
- Supplier Market Research & Analysis
- Strategic Sourcing
- Mystery Shopping and Visits
- Vendor or Supplier Performance Analysis
- Vendor Visits & Inspection
- Supplier Visits & Inspection
- Price change control advisory
