SpendEdge Facilitates Sustainable Sourcing Transformation for a US-Based Food and Beverages Company

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Sep 18, 2023, 14:00 ET

NEW YORK, Sept. 18, 2023 /PRNewswire/ -- Our client, a rapidly expanding Food and Beverages company headquartered in the United States with a global reach spanning over 150 countries, embarked on a mission to enhance the sustainability quotient of its product ingredients. The challenge at hand involved increasing the utilization of sustainable raw materials, with a specific focus on wheat and corn, two of their primary sourced commodities. In a bid to promote eco-conscious practices, our client sought SpendEdge's expertise to identify suppliers employing cutting-edge technologies and sustainable farming methods. The objective was clear: to pinpoint agricultural entities championing eco-friendly approaches, conduct comprehensive supplier audits, and explore collaborative opportunities with local farms implementing sustainable techniques.

SpendEdge procurement advisors embarked on the mission of identifying agro companies specializing in sustainably farmed products. The journey involved leveraging extensive databases, trade associations, and industry reports to compile an exhaustive list of potential suppliers. Next, our analysts engaged in a rigorous capability mapping process to shortlist the most compatible suppliers. This meticulous evaluation considered a gamut of factors, including financial stability, average annual yield, farming technologies, produce sorting methods, sustainable practices, pricing structures, product and service quality, geographical proximity, and alignment with the client's specific requirements. Furthermore, SpendEdge provided invaluable guidance on engagement best practices and negotiation strategies when interacting with these suppliers, aiming to secure the most favorable terms encompassing pricing, delivery schedules, and contractual commitments.

Thanks to SpendEdge's comprehensive efforts, the client was empowered to assess the sustainability initiatives of multiple suppliers and meticulously curate a select list of preferred partners. The engagement best practices shared by our team proved instrumental in facilitating meaningful negotiations with potential suppliers, ultimately culminating in the finalization of contracts featuring favorable pricing terms. Inclusion of Service Level Agreements (SLAs) and Key Performance Indicators (KPIs) within the contracts ensured robust quality control mechanisms and on-time deliveries, further enhancing the partnership.

SpendEdge's dedication to procurement excellence not only transformed our client's approach to sustainable ingredient sourcing but also fostered collaborations that will continue to contribute to a greener, more sustainable future.

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About SpendEdge

SpendEdge is a trusted provider of market intelligence solutions, equipping organizations with invaluable insights to facilitate informed procurement decisions. With a track record of delivering actionable recommendations, SpendEdge empowers clients to achieve strategic goals and drive sustainable growth.

SOURCE SpendEdge