LONDON--(BUSINESS WIRE)--SpendEdge, a leading provider of procurement market intelligence solutions, has announced the completion of their latest success story on achieving cost savings of $15 million for a Canadian medical device company.
The company wanted to determine appropriate supply markets to identify the opportunity for sales of new devices. The key objectives they aimed to achieve through this engagement are mentioned below:
- Objective 1: The company wanted to gain detailed insights into the product attributes that were impacting the costs to improve strategic sourcing decisions.
- Objective 2: They also wanted to track down escalating cost factors to address purchase price fails.
- Inability to find the opportunity for sales of new devices can impact any company’s share in the medical device industry market. Request a proposal today to access our customized supply market intelligence solution portfolio for FREE.
“Medical device manufacturers in Canada must gauge new market opportunities, understand cost structures, and pricing issues to address competition arising from US companies in the Canadian market,” says Srinivas R, Procurement Manager at SpendEdge.
Want to conduct comprehensive Canadian medical device industry analysis to tap new market opportunities? Get in touch with our experts today!
Key findings and solutions offered
In collaboration with SpendEdge, the client – a company in the Canadian medical device industry – obtained market insights and developed a robust sourcing and procurement strategy. The solution offered helped them to:
- Determine the opportunity for sales of new devices despite the market competition.
- Achieve cost savings of $15 million by tracking the prices of raw materials in real-time.
- Developing effective sourcing and procurement strategy requires access to granular insights. Request a free demo to get unlimited access to all of our reports and supplier updates for 7-days.
Outcome: To address the specific requirements of the medical device company, the procurement experts at SpendEdge offered a customized supply market intelligence solution. This helped the client to gain accurate real-time insights, determine appropriate supply markets, and improve external market awareness. Our solution offered helped the client to identify compliance requirements for new generation devices and adopt sourcing best practices to address the purchase price fails. They were also able to assess the financial health of suppliers and cost structure in the medical device industry.
To gain detailed insights into the solution offered by our experts to the company in the Canadian medical device industry, 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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