Our Services
We divide our services into two clear workstreams.
Commercial & Cost Management
We use cost modelling, baselining and benchmarking to give a realistic view of a capex programme from inception. This helps shape a reliable capital plan, understand options available, and keep delivery on track with fewer surprises. Our approach makes complex information easy to navigate, which helps make confident, well‑informed decisions.
Procurement & Supply Chain
Our Procurement and Supply Chain service supports clients in securing the right partners and products through a structured, strategic approach. Using category management, we analyse key spend areas to unlock value, strengthen supplier performance, and reduce risk across an investment programme. Our supply chain management techniques ensure reliability and consistency, which is especially critical when delivering a brand's corporate identity programme. We help build a clear, efficient procurement strategy that keeps delivery aligned, scalable, and seamless across every location.
Expertise
True Cost bridges the gap between creative vision and physical reality, offering a unique consultancy that integrates commercial strategy with precision procurement to de-risk and deliver world-class brand environments.
For end‑user brands, we provide confidence through risk mitigation and protection of their investment.
For creative agencies, we ensure their vision won't be diluted or overly value‑engineered during execution.
For implementation partners, we bring commercial clarity and a professionalised process that makes delivery both feasible and efficient.
About us
Stephen Locke is the founder of True Cost. Stephen has over 25 years of experience in the construction consultancy industry.
Stephen has a BSc (Hons) degree in Quantity Surveying, but through his consultancy journey he developed a passion and skillset for procurement and supply chain activity. In 2014 Stephen gained a chartership as a member of the chartered institute of procurement and supply (MCIPS).
A journey working for international built asset consultancy Arcadis, and global brand implementation specialist Principle, has provided Stephen with market leading and expert knowledge.
A globally recognised brand client list includes Aston Martin, Boehringer Ingelheim, Costa, HSBC, McDonald's, Rolls Royce, TEVA and more. Stephen has also worked alongside an extensive range of international consultancies. All of which will testify to the professionalism, and value driven approach which Stephen has delivered on the programmes he has led on.
Ultimately Stephen uses a down to earth and personable approach, sharing his knowledge and experience to harness relationships between end user clients, creative teams and implementation partners.
Testimonials
I had the pleasure of working with Steve at Arcadis for over 12 years, including five years in close partnership developing and delivering a global supply chain strategy for a major international bank. Throughout that time, Steve proved himself to be a consummate professional: commercially astute, highly reliable, and always focused on delivering real value to both the client and the organisation.
Steve combines deep supply chain expertise with a strong understanding of programmes and PMOs, ensuring that strategies translate into sustainable, measurable benefits. He is a transformational thinker with excellent interpersonal skills, able to build trust across complex stakeholder and supplier environments. I would not hesitate to recommend Steve to any organisation looking for a trusted, results-driven commercial and supply chain leader.
I had the opportunity to work with Stephen during a recent project, and I was impressed by the high level of professionalism shown throughout the entire process. The communication was clear and transparent, timelines were consistently met, and the overall management of a bid was handled with diligence and expertise. Stephen's structured approach and commitment to quality greatly contributed to an efficient and well-coordinated tender process.
Brand Strategy & Experience
Physical spaces in the world of brand, retail stores, showrooms, events, offices, rely heavily on experiential touchpoints. The journey is about how customers move through the space and feel the brand in real life.
Integral to creating the customer experience is the ability to translate the concept and detailed design into reality. In a physical space, the customer journey is about orchestrating sensory, emotional, and human interactions so that every step — from walking in the door to leaving — feels like living inside the brand’s story. Through human connections concepts can turn into reality.
Rolling out a cohesive brand strategy across a global network of physical locations is a complex undertaking, especially when considering the diverse categories of spend involved. Achieving brand consistency and operational efficiency at scale requires a structured, expert-led approach. This is where the implementation of a dedicated commercial programme management strategy, and supply chain strategy becomes essential.
Without granular cost data, brand agencies and clients are left guessing whether a new concept is truly scalable across domestic and global markets, proving that square-foot costs are not enough.
Leveraging true cost data, global indices, and established supplier relationships, we provide the early and accurate cost advice necessary to transform conceptual designs into scalable, budget-aligned realities.
By centralising programme management, organisations benefit from smoother processes, reduced duplication, stronger cost control, and faster delivery. With clear oversight across all key categories, each investment delivers maximum value and a consistent global brand presence.
Brands dream it. Designers craft it. Suppliers create it. True Cost makes it possible.
