Strategic Sourcing Process
At LTTS, our focus is on transforming your procurement operations into a source of value, innovation and differentiation. Our combined understanding of business, products, manufacturing, technology and service support make us the ideal partner to your strategic sourcing process – from identifying the right suppliers and striking the right bargain to establishing processes for prototyping and volume production.
LTTS Sourcing and Value Management (SVM) Services
What We Do
Supplier Quality Management
- Supplier Identification & Assessment
- APQP Support
- PPAP Support
- On-Going Supplier Quality Monitoring
- In-house Quality Assurance
- Supplier Audit
- RFQ Management & Negotiations
Should Costing
- Benchmarking Reports
- Raw Material Analysis
- Cost Study & Engineering Analysis on different product designs
- Should-Cost Models
- Manufacturing Process Study
- Negotiations Support
Strategic Sourcing
- Spend Analysis(PPV)
- Sourcing Strategies: Planning & Implementation
- Best Cost Country Sourcing
Prototyping Support
- Prototype Design & Analysis
- Establishing Mfg Process
- Selection of Prototype Technique
- Development of specific Quality Assurance Plans
- Testing & Validation of assemblies for concept & design
Volume Production Support
- Incorporate learning from development stage
- Identify materials for volume manufacturing
- Identify tooling for volume production
- Finalize commercials with identified suppliers
- Develop tooling
- Manufacturing Pilot Support
- Validate quality and performance of pilot lot
What Stands Us Apart
- 50 specialized sourcing engineers who have enabled average savings of 30% for global customers
- Executed 100+ System Level Should Costing programs involving 25000+ components of various commodities
- Deep understanding of costing, workforce and manufacturing systems across multiple geographies to build accurate should-cost models
- Knowledge & focus on PPAP and Quality tools for Supplier Quality Management
- Ecosystem of approved suppliers for prototyping in multiple commodities including plastics, aluminum, metal and ferrous
- Practical knowledge of various technologies to develop robust manufacturing processes that can facilitate efficiency, quality and consistency
Success Stories
Reducing the Cost of Quality with CAD Data Migration
LTTS collaborated with a leading global Automotive OEM in implementing CAD data migration. This contributed to savings of up to 30% in Cost of Quality
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Trucks and Off-Highway Machines Success Stories
The TNOH case study booklet consist of some best customer success stories to showcase LTTS' collaborations with leading OEMs & Tier1s to deliver personalized customer and digital-first experiences
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Resources
Cold Rolled Steel Sheet Cost Analysis
Explore rolling thickness of steel sheets, market impacts, and strategies like value engineering to manage costs and adapt to industry price shifts.
