This project illustrates the transformative power of using big data analytics blended with human insight.
Data insights provided the initial catalyst for identifying cost optimisation opportunities. Turning those opportunities into practical actions was achieved by overlaying deep industry and procurement expertise, with extensive knowledge from Meggitts’ buyers. This inclusive approach resulted in a hugely motivated team, armed with tools and skills to deliver sustainable cost reductions. Critically, embedding cost analytics insights, has enabled Meggittt to achieve ongoing efficiencies.
The result? 106 projects completed with savings 50% above target, delivered ahead of plan and in half the usual time.