Lifecycle IndexTM Lite

Calculate your savings

The Lifecycle Index Lite is a streamlined calculator based on Lifecycle’s unique diagnostic tool, the Lifecycle IndexTM. The calculator will ask a series of simple questions to better understand your spend and identify potential savings.

Lifecycle has worked in these spend categories for over a decade, so we have the benchmark data and market knowledge to give a confident estimate of where you can find savings.

We use a blended approach of market competition, spend aggregation, demand optimization, supplier performance management and digitization, amongst other factors, to identify and deliver savings and improved value throughout the contract lifecycle. You can find out more about Lifecycle’s approach to contract management here.

The Lifecycle Index Lite

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Step 1 of 4

Spend & Suppliers

Firstly, we want to understand the type and size of spend that you believe is addressable within your spend category.

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About the Calculator

Below you will find some of the most common questions about the calculator. If you have any further questions please contact marketing@rethinkgroup.co.

What is Contract Structure?

This section aims to drill down into your spend to understand how it is made up in terms of procurement channel.

Spend on contract indicates how well controlled the category is within an organization (assuming that the use of contracts is well enforced).

Contracted spend allows for competitive re-procurements to be run at the end of a contract term and drives competition throughout the category. Conversely, a large amount of non-contracted spend can also give rise to opportunity through spend aggregation.

Lifecycle considers each customer spend category and provides opportunity assessment and procurement plans based on many factors, some of which we have included in the calculator.

What is Organisational Structure?

This section looks to identify potential opportunities by getting a better understanding of the make-up of procurement, its end users and the contract management structures in place.

We assess the number of procurement staff in your organisation against the category of spend and the number of end users that those staff serve. Whilst some areas will have a low number of end users, perhaps just one, the category can be of such importance that it would benefit from multiple procurement staff to manage it.

We all know that a new contract is only as good as how it is used and managed post-procurement. That is why at Lifecycle, we take a ‘cradle to grave’ approach in establishing and then actively managing contracts over their life. We have invested heavily into our contract management and SRM resources to deliver this for all of our customers, leading to benefits and savings through the contract term.

Why is the calculator not working?

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How are my scores calculated?

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When will I get the results?

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What is the Lifecycle Index?

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