LONDON--(BUSINESS WIRE)--SpendEdge, a leading provider of spend analysis solutions, has announced the completion of their category level spend analysis for a non alcoholic beverages company.
Engagement background
The company wanted to track savings from existing categories and identify latent saving opportunities to sustain their market share in the non alcoholic beverages industry. The key objectives they aimed to achieve through this engagement are mentioned below:
- Objective 1: The company wanted to analyze their spend and develop a robust spend strategy.
- Objective 2: They also wanted to strengthen their relationship with suppliers to implement the best contracting practices.
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“With the rise in the sales of new products, companies in the US non alcoholic beverages industry are compelled to bring new offerings and ensure profitability in different categories,” says Srinivas R, Procurement Manager at SpendEdge.
Key findings and solutions offered
In collaboration with SpendEdge, the client – a well-known company in the non alcoholic beverages industry – reduced expenditure in different categories and successfully added new items such as sparkling water and oat milk. The solution offered helped them to:
- Consolidate supplier base, explore the spend in the defined spend category hierarchy, and reduce expenditure by 45%.
- Negotiate for key spend categories to ensure more favorable contracts and pricing.
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Outcome: The category level spend analysis solution offered by the experts at the SpendEdge helped the non alcoholic beverages company to analyze procurement spend that provided category data. This enabled the client to gain visibility into the amount of money spent on purchasing materials and services for different categories. The spend analysis techniques recommended further helped the client to identify top spend categories, allocate resources for popular products, and improve ROI. This improved category sales substantially and enhanced the overall performance of categories.
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About SpendEdge:
SpendEdge shares your passion for driving sourcing and procurement excellence. We are the preferred procurement market intelligence partner for 120+ Fortune 500 firms and other leading companies across numerous industries. Our strength lies in delivering robust, real-time procurement market intelligence reports and solutions.
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