LONDON--(BUSINESS WIRE)--SpendEdge, a leading provider of procurement market intelligence solutions, has announced the completion of their latest success story on reducing compliance costs for a food and beverage company.
The company wanted to maximize funds for capital spend and new product development to compete with US-based products. The key objectives they aimed to achieve through this engagement are mentioned below:
- Objective 1: The company wanted to identify compliance risks to address changing labeling requirements in Canada.
- Objective 2: They also wanted to ensure availability of raw materials during commodity supercycle by optimizing the supply chain.
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“With the changing regulatory requirements and the ongoing commodity price supercycle, food and beverage manufacturers have been compelled to optimize their supply chains to improve the profit margins,” says Srinivas R, Procurement Manager at SpendEdge.
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Key findings and solutions offered
In collaboration with SpendEdge, the client – one of the fastest-growing companies in the food and beverage industry – obtained detailed insights into industry-specific certifications and aligned with existing standards. The solution offered helped them to:
- Identify potential suppliers in the market and understand the changing pricing landscape.
- Implement supplier negotiation strategies and realize cost-savings from commodity purchases.
- Identifying potential suppliers in the food and beverage industry is a must for companies to realize cost savings? Request a free demo to gain detailed insights into the supplier landscape.
Outcome: With the aid of experts at SpendEdge, the food and beverage manufacturer gain detailed insights into CFIA fees notice amendments and significantly reduced their compliance cost by 23%. In addition, the client obtained a comprehensive global commodity pricing overview and formulated effective sourcing and procurement strategies. This helped the client to ensure compliant purchasing, improve operational efficiency, and increase the performance of their supply chain. The solution offered further helped the client to capture, structure, and improve business decision-making capabilities.
To gain detailed insights into the solution offered by our experts, request more information.
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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