LONDON--(BUSINESS WIRE)--SpendEdge, a leading provider of procurement market intelligence solutions, has announced the completion of their procurement market intelligence engagement for a healthcare products manufacturer.
The company wanted to map the procurement process flow and gain valuable insights into the commodity categories. The key objectives they aimed to achieve through this engagement are mentioned below.
- Objective 1: The company wanted to minimize excess spend by reducing the number of suppliers and invoices.
- Objective 2: They also wanted to meet changing regulatory requirements and ensure long-term growth of the company.
- Want to gain detailed insights? Request a free demo to know how we can help you map the procurement process flow and gain detailed insights into the commodity categories and the healthcare market.
“Understanding the procurement process flow is imperative for companies to identify gaps within the process models, gain visibility into the spend areas, and meet regulatory requirements,” says a procurement expert from SpendEdge.
Key findings and solutions offered
In collaboration with SpendEdge, the client – a leading healthcare products manufacturer – identified cost-saving opportunities by gaining visibility into spend areas and specialty categories. The solution offered helped them to:
- Negotiate the best deals and achieve savings of $19 million.
- Evaluate suppliers on the basis of the quality of service, warranty and customer service.
- Wondering improving the procurement process can help you reduce excess spend and achieve substantial savings? Request a free proposal to access our complete portfolio of procurement market intelligence solutions.
Outcome: The procurement market intelligence solution offered by the experts at the SpendEdge helped the healthcare products manufacturer to obtain information on supplies, labor, and other expenses. The information obtained helped the client to reduce the time spent on low-value items and identify related goods that can be purchased from fewer suppliers at better prices. The procurement market intelligence solution further helped the client to understand government policies and regulations and meet regulatory requirements. In addition, the solution provided helped them to ensure that the procurement costs were in line with the average market prices.
To access the complete case study on how we helped a healthcare products manufacturer to achieve savings of $19 million, get in touch with our experts here!
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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