Abstract: An exemplary embodiment of the invention relates to a system, method and storage medium for facilitating procurement of direct and indirect items via a cost out tool. The system comprises a cost out distribution network system comprising a server executing the cost out tool; a communications network operably coupled to the server; and a workstation and data storage device in communication with the server via the communications network. The data storage device houses information utilized by the server in executing the cost out tool including legacy data, bucket specifications and specification templates, sourcing data, and a catalog of selected items and suppliers. The system also includes a link to a plurality of supplier systems and a plurality of site systems operably coupled to the cost out distribution network system and supplier systems via the network system.