LONDON--(BUSINESS WIRE)--SpendEdge, a leading provider of procurement market intelligence solutions, has announced the completion of their latest success story on reducing time to market and achieving savings of 16.6 million for an apparel company.
Engagement background
The company wanted to identify alternative sourcing locations due to changing tariffs and trade policies in the US. The key objectives they aimed to achieve through this engagement are mentioned below:
- Objective 1: The company wanted to devise effective supply chain strategies to reduce the time taken from design to transit stores.
- Objective 2: They also wanted to develop new fulfillment models to meet rising consumer expectations and get huge volumes of ever-changing SKUs to market quickly.
- Wondering how you can revamp your supply chain to meet changing consumer needs while complying with regulatory norms? Request a free proposal to access our solution portfolio for free!
“High product turnover rates and thinning profit margins have compelled companies in the apparel industry to determine the best sourcing and transit strategies,” says Srinivas R, Procurement Manager at SpendEdge.
If you want to know how to devise effective supply chain and transit strategies for companies in the apparel industry, get in touch with our experts now!
Key findings and solutions offered
In a span of three months, the client – a leading apparel company – reduced production costs by 7% and saved $16.6 million. The solution offered helped them to:
- Select alternative sourcing options within the US and enhance the speed to market while identifying compliance risks.
- Identify potential suppliers who could ensure supply chain efficiency while dealing with volatility, uncertainty, and shifts in the global economy.
- Identifying low-cost sourcing locations is a must for companies to reduce production costs. Request a free demo to gain detailed insights to determine alternative sourcing options for your business.
Outcome: SpendEdge's comprehensive apparel industry analysis helped the company select Vietnam and Bangladesh as their new sourcing locations. This helped the client significantly reduce their production costs while complying with the necessary regulatory norms. The solution offered helped them gain a better understanding of their end-to-end operations, centralize supply chain platforms, and identify opportunities to run operations more efficiently. Moreover, the revised supply chain and transit strategies reduced the time taken from design to transit stores for the client by 20 days.
To gain detailed insights into the solution offered by our experts, request more information.
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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