LONDON--(BUSINESS WIRE)--SpendEdge, a leading provider of procurement market intelligence solutions, has announced the completion of their latest success story on generating $15 million by developing a proprietary procurement delivery model for a specialty chemicals company.
The company wanted to develop a robust procurement delivery model that could integrate end-to-end source-to-Pay (S2P) operations. The key objectives they aimed to achieve through this engagement are mentioned below:
- Objective 1: The company wanted to devise, document and maintain procurement strategies, and project portfolios to reduce the impact of ongoing high cost pressure.
- Objective 2: They also wanted to analyze advanced indirect and direct sourcing processes to identify supplier risks and increase supply chain transparency.
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“An efficient procurement delivery model helps companies to standardize their procurement operations and achieve substantial cost benefits. It also allows companies to analyze their indirect and direct sourcing processes and develop better strategies to improve them,” says Srinivas R, Procurement Manager at SpendEdge.
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Key findings and solutions offered
In a span of two months, the client – a renowned manufacturer in the UK specialty chemicals industry – conducted a strategic assessment of the specialty chemicals industry and devised sourcing specific strategies. The solution offered helped them to:
- Develop a procurement delivery model and increase savings by implementing sourcing best practices.
- Gain detailed insights to understand changing asset structures and raw material base.
- Devising a procurement delivery model requires a complete picture of supply markets. Request a free demo to access our ready-to-use market intelligence reports now!
Outcome: With SpendEdge’s help, the specialty chemicals company was able to implement sourcing specific strategies to deal with oligopolistic markets. They were also able to minimize costs through network optimization and inbound logistics. Our comprehensive specialty chemicals industry report helped them to better control the procurement process and achieve savings of $ 15 million. The solution offered, helped the client to centralize transactional procurement functions, increase productivity by 15%, and improve on-time payments by 30%.
To gain detailed insights into the solution offered by our experts to the specialty chemicals company, 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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