LONDON--(BUSINESS WIRE)--SpendEdge, a leading provider of procurement market intelligence solutions, has announced the completion of their category management study for a flexible packaging manufacturer.
The company wanted to analyze sales performance, profitability, and customer metrics to increase profit margins. The key objectives they aimed to achieve through this category management engagement are mentioned below.
- Objective 1: The company wanted to implement new strategies to negotiate with key suppliers by improving category performance improvement process.
- Objective 2: They also wanted to gain a comprehensive understanding of the breakdown of costs for designated categories.
- Want more information? Request a free demo to know how we can help you analyze the value chain and improve the category management process.
“Companies in the flexible packaging industry need to leverage the use of category management solutions to analyze the shift in trends and address sustainability challenges,” says a procurement expert from SpendEdge.
Key findings and solutions offered
In a span of three months, the client – a leading flexible packaging manufacturer – identified effective pricing strategies and gained detailed insights into the latest trends and developments. The solution offered helped them to:
- Conduct value chain analysis and realize savings potential of $10 million in the first phase of engagement.
- Switch to a pull inventory approach by achieving savings between 2-11% on the supply chain side.
- Improving category management is crucial for companies to realize saving opportunities in different categories. Request a free proposal to access our complete portfolio of category management solutions today!
Outcome: With SpendEdge’s help, the flexible packaging manufacturer was able to change the basis for negotiations with suppliers. Our methodologies showed new ways for knowledge transfer to suppliers and understand the key risks associated with them. This improved category management and helped the client to achieve savings of $18 million. The solution offered, also enabled the client to understand how the rising cost of raw materials will impact the flexible packaging industry and implement procurement best practices.
To access the complete case study on how we helped a flexible packaging manufacturer realize $18 million in savings, get in touch with our experts here!
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