LONDON--(BUSINESS WIRE)--SpendEdge, a leading provider of procurement market intelligence solutions, has announced the completion of their latest success story on growing the international business by 170% for a US medical products company.
The company wanted to perform cost price analysis and gain detailed supplier insights to improve price negotiations with them. The key objectives they aimed to achieve through this engagement are mentioned below:
- Objective 1: The company wanted to obtain accurate pricing data to make informed price and volume trade-off decisions.
- Objective 2: They also wanted to devise an effective pricing strategy to set competitive prices on an international scale.
- Wondering how performing cost price analysis can help you make informed price and volume trade-off decisions? Request a proposal and our experts will get back to you within two working days.
“Since medical products companies in the US actively look to improve the performance of their current products by scouting new technologies and partner with Contract Manufacturing Organizations (CMOs), it has become crucial for them to set prices on an international scale,” says Srinivas R, Procurement Manager at SpendEdge.
To better understand the complexities involved in setting prices on an international scale and address them, get in touch with our experts today!
Key findings and solutions offered
In collaboration with SpendEdge, the client – a medical products company – developed a cost price analysis template based on geographic complexities and played-out different price volume trade-offs for different regions. The solution offered helped them to:
- Document pricing guidelines to navigate factors impacting the prices and stop undercutting its margins.
- Gain detailed supplier insights and better position themselves while negotiating with them.
- Implementing a robust pricing strategy is crucial for companies to meet margin goals. Request a demo to access our web-based procurement platform for FREE!
Outcome: SpendEdge’s comprehensive cost price analysis helped the medical products company to analyze the transactional data and determine the viability of the current quotations. This analysis helped them identify price trends for the same commodities and define optimal price points in different countries. The solution offered also helped them to devise an effective pricing strategy and better facilitate the annual price-setting process. This helped the client to better position themselves against competitors and grow their international business by 170%
To gain detailed insights into the cost price analysis solution offered by our experts to the medical equipment company, request more information.
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