SpendEdge Identifies Cost Saving Opportunities in the Pharmaceutical Industry

SpendEdge helps companies identify cost saving opportunities. (Graphic: Business Wire)

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LONDON--()--SpendEdge, a leading global procurement intelligence advisory firm has announced the completion of their latest assessment, a tail-spend analysis for a leading pharmaceutical and biopharmaceutical company. The primary objective of this analysis was to develop a comprehensive assessment of the company’s maintenance, repair, and operations (MRO) category, which would help the client in streamlining their sourcing processes.

“With an organization consisting of centralized and local procurement spread across six countries and more than 20 business units, the client was facing issues with consolidating and identifying savings opportunities since they had no access to the full data on category spend through their central ERP system,” said SpendEdge.

By leveraging contract rates and conditions through the implementation of service or commodity catalogs and identifying the risks due to the lack of long-term contracts and inappropriate sourcing practices, the client was able to save millions. In a span of five weeks, the client was able to achieve approximately 26% savings in various categories and nearly 57% reduction in the supplier base.

View related research: Cost saving opportunities in the pharmaceutical industry

Some of the key solutions provided in this assessment include:

  • A MS Access, Excel, and VBA based tail spend analytics framework
  • Category/sub-category level spend data analysis
  • Benefit assessment
  • Recommendations and process improvement guidelines

View the study: https://www.spendedge.com/casestudy/tail-spend-assessment

About SpendEdge

SpendEdge shares your passion for driving sourcing and procurement excellence. We are a preferred market intelligence partner for Fortune 500 firms and other leading companies across industries. Our strength lies in delivering actionable insights that help sourcing and procurement professionals get the right information in the right format, without any unnecessary frills. For more information on SpendEdge’s services, please contact us.

Contacts

SpendEdge
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
https://www.spendedge.com/
hello@spendedge.com

Release Summary

The latest assessment from SpendEdge identifies cost saving opportunities in the pharmaceutical industry.

Contacts

SpendEdge
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
https://www.spendedge.com/
hello@spendedge.com