LONDON--(BUSINESS WIRE)--SpendEdge, a leading provider of procurement market intelligence solutions, has announced the completion of their latest success story on reducing the costs of goods sold (COGS) by 27% for a surgical instruments company in the US.
Project background
The company wanted to address the increasing competition from new low-cost manufacturers in the US. The key objectives of the engagement are mentioned below.
- Objective 1: The company wanted to identify ways to reduce their costs of goods sold (COGS).
- Objective 2: They also wanted to gain visibility into organizational spend, granular insights on buying activities, and optimize the supply base to achieve their spend reduction goals.
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“Since surgical instruments companies compete heavily on price and often need high sales volume to be more profitable, firms must reduce the COGS to stay ahead of the curve,” says a procurement expert from SpendEdge.
Key findings and solutions offered
In collaboration with SpendEdge, the client – a leading company in the surgical instruments industry – identified low-cost suppliers within the existing supply base. The solution offered helped them to:
- Reduce the costs of goods sold (COGS) by 27%.
- Optimize the supply chain and minimize organizational spend.
- Are you looking for solutions to optimize the supply chain and increase supplier value? Request a free proposal to access our smart procurement solutions today!
Outcome: To help the client achieve their objectives, the experts at SpendEdge identified quality direct material suppliers for a reasonable price. They provided insights that helped the client navigate a global partnership with suppliers. They explored potential synergies within the incumbent supplier community to enhance the designing and engineering capabilities. The solution offered also helped the client to evaluate the sourcing process and identify opportunities for supplier consolidation within the existing supply base.
To access the complete case study on how our solutions helped a leading surgical instruments company to minimize the costs of goods sold by 27%, read the complete case study here!
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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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