LONDON--(BUSINESS WIRE)--SpendEdge, a leading provider of procurement market intelligence solutions, has announced the completion of their latest spend analysis engagement for a medical equipment company.
The company wanted to gain detailed insights on how to devise a single platform to integrate their purchasing activities. The key objectives they aimed to achieve through this engagement are mentioned below:
- Objective 1: The company wanted to streamline their procurement process to reduce excess inventory costs and material spend.
- Objective 2: They also wanted to identify and obtain a list of potential suppliers in the market space and analyze their patterns of spending to reduce procurement spend.
- Wondering how can you improve the efficiency of procurement and purchasing processes and reduce excess spend? Request a proposal to access our spend analysis solution portfolio for free.
“Increasing competition in the healthcare industry has compelled many medical equipment companies to showcase a high level of cost-effectiveness for their products due to the implementation of stringent reimbursement policies and regulations across the globe,” says Srinivas R, Procurement Manager at SpendEdge.
Are you also looking to identify cost-effective strategies and improve spend management? Get in touch with our experts to gain actionable industry-specific insights for better decision making.
Key findings and solutions offered
In collaboration with SpendEdge, the client – a medical equipment company – identified and minimized inefficiencies in its procurement system. The solution offered helped them to:
- Manage risks, recover overpayments, and reduce maverick spend across the supply chain.
- Improve their process efficiency and optimize spend areas.
- Minimizing inefficiencies in the procurement system is critical for companies to reduce maverick spend. Request a free demo to access our ready-to-use market intelligence reports today!
Outcome: With SpendEdge’s help, the medical equipment company obtained detailed insights on different strategies to improve their process efficiency and decrease procurement costs. The insights gained helped them analyze major spend areas by using a standard taxonomic approach and develop a robust spend strategy. The spend analysis solution offered also helped the client to analyze the spending pattern of key suppliers in the market space and implement best contract practices.
To gain detailed insights into the spend analysis solution offered by our experts to the medical equipment 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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