LONDON--(BUSINESS WIRE)--SpendEdge, a leading provider of supply market intelligence solutions, has announced the completion of their latest success story on reducing the expenditure by 23% for a medical device manufacturer by performing supply market assessment.
The company wanted to gain a deeper understanding of supply markets and develop effective procurement strategies. The key objectives they aimed to achieve through this engagement are mentioned below:
- Objective 1: The company wanted to conduct supply market assessment and procure goods and services involving a high level of expenditure at better prices.
- Objective 2: They also wanted to analyze the possibility of supply market failure and identify potential suppliers.
- Wondering how you can assess supply markets and develop effective strategies to reduce the expenditure? Request a proposal our experts will get back to you within two working days.
“Despite attaining a growth rate of over 5%, companies in the medical device industry need to consolidate the supply base across different regions and optimize the supply chain to stay ahead of the curve,” says Srinivas R, Procurement Manager at SpendEdge.
Want to perform supply market assessment and gain specific supply market insights? Get in touch with our experts today!
Key findings and solutions offered
In collaboration with SpendEdge, the client – a leading medical device manufacturer – analyzed the global supply market scenario and devised effective sourcing and procurement strategies. The solution offered helped them to:
- Procure items at better prices and reduce the expenditure by 23%.
- Identify key drivers impacting the supply base and study supply and demand fluctuations.
- Performing a supply market assessment is crucial for companies to develop effective procurement and sourcing strategies. Request a free demo to access our web-based procurement platform now!
Outcome: To cater to the specific category requirements of the healthcare device manufacturer, SpendEdge's experts analyzed facts, data, and key trends influencing the global healthcare market and suppliers. They also gained detailed insights into the market and helped the client develop an accurate commodity profile. This provided them with a clear understanding of the products to be evaluated. Our supply market assessment solution also helped the client to obtain vital insights into the cost structure, analyze the financial health of potential suppliers, and procure supply at relatively lower costs.
To gain detailed insights into the supply market assessment solution offered by our experts to a medical devices manufacturer, request more information.
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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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