LONDON--(BUSINESS WIRE)--SpendEdge, a leading provider of procurement market intelligence solutions, has announced the completion of their latest success story on adopting best contract negotiation levers and reducing supply costs by 17% for a solar energy firm.
Engagement background
The company wanted to ensure an adequate supply of solar panels while minimizing inventory costs. The key objectives they aimed to achieve through this engagement are mentioned below:
- Objective 1: The company wanted to reduce the oversupply of solar panels as it was driving down the cost of purchasing a system.
- Objective 2: They also wanted to adopt the best contract negotiation levers by gaining a comprehensive solar energy industry report.
- Wondering how you can drive down supply costs by adopting best negotiation levers? Request a free proposal and our experts will get back to you with customized solution portfolio.
“Despite the government’s initiative to transition to clean energy sources, companies in solar energy industry need to address rising inventory costs and oversupply of solar panels to increase their market share,” says Srinivas R, Procurement Manager at SpendEdge.
Are you also worried about rising inventory costs? Not anymore! Get in touch with our experts to gain industry-specific insights.
Key findings and solutions offered
In a span of three months, the client – a leading company in the solar energy industry – assessed risks associated with suppliers and saved $ 1.5 million by adopting best contract negotiation levers. The solution offered helped them to:
- Identify cost reduction opportunities by analyzing suppliers’ pricing, cost structure, and market dynamics.
- Contract with a range of suppliers within a structured and consistent environment.
- Analyzing supplier’s financial stability is crucial to determine risks associated with them. Request a free demo to access our web-based procurement platform!
Outcome: The solution offered helped the solar energy company to gain detailed information across a wide array of proprietary sources such as paid industry databases, engagement and pricing models, and the relationship of key suppliers with competitors. This information enabled the client to analyze the strengths and weaknesses of suppliers and adopt the best contract negotiation levers. The solution offered reduced the supply costs by 17% and helped the client to generate savings of $1.5 million in three months. Also, it empowered the client to better prepare for contingencies and predict supplier risks.
To gain detailed insights into the solution offered by our experts to the solar energy company, 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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