LONDON--(BUSINESS WIRE)--SpendEdge, a leading provider of procurement market intelligence solutions, has announced the completion of their latest success story on building competitive strategies for a global retail firm by improving supplier relationship management.
The company wanted to reshape the relationship with suppliers to identify potential areas of risk in the value chain and better prepare for contingencies. The key objectives they aimed to achieve through this engagement are mentioned below:
- Objective 1: The company wanted to gain insights on the value creation framework for suppliers and customers to ensure profitability.
- Objective 2: They also wanted to gain a deeper understanding of the latest trends and developments in the market.
- Wondering how you can improve relationship with suppliers and ensure profitability? Request a proposal our experts will get back to you within two working days.
“Since the global economic recession, inflation, and high unemployment rates are negatively affecting the retail category, companies are opting for supplier relationship management to cut costs and improve relationships with their suppliers,” says Srinivas R, Procurement Manager at SpendEdge.
Want to know how supplier relationship management can help companies gain monetary benefits? Get in touch with our experts today!
Key findings and solutions offered
In collaboration with SpendEdge, the client – a global retail firm – identified key risks and built competitive strategies by adopting procurement best practices. The solution offered helped them to:
- Increase savings and boost revenue generating opportunities.
- Make necessary organizational changes required to seize savings opportunities.
- Improving supplier relationships requires deep insights into the supplier landscape. Request a free demo to access our web-based procurement platform now.
Outcome: To cater to the specific category requirements of the global retail firm, SpendEdge's supplier relationship management analysts carried out an in-depth two step research methodology. This helped the client to identify the economic flaws in supplier relationships and the value that was currently being created and captured. The client also gained insights into the control points in the value chain. Our analysis further provided a clear representation of the qualified merits and possible prioritization of the opportunities.
To gain detailed insights into the supplier relationship management solution offered by our experts to the global retail firm, request more information.
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