SpendEdge Helped Chemicals Client Achieve Digital Transformation With Market Intelligence
NEW YORK, July 25, 2023 /PRNewswire/ -- SpendEdge, a global leader in procurement market intelligence space recently engaged with a chemicals client realize 5% additional savings procurement costs and achieve digital transformation with market intelligence.
The Our client, a global supplier of inorganic base chemicals, has managed to sustain growth in a highly competitive market for more than two decades. Of late, however, growth started to tail off for reasons like stiffer competition in some sub-markets and certain pain points on the clients supply-side.
To start with, the company identified its procurement process as a test bed for its overall cost reduction efforts aimed at addressing dwindling revenues, market share, and profitability. Having convinced itself of SpendEdge's credentials, the client's leadership turned to their experts for assistance.
Game-Changing Solutions:
After understanding the extent of the client's challenges, the SpendEdge team of procurement experts decided to carefully study the intricacies of each requirement carefully and create bespoke solution to suit the scope of the client's business model.
As per the procurement leader, the insights offered by their experts pivoted around sales and profitability of specific product categories, continuous cost reductions, and more enriched supplier relationships.
Their granular insights helped the client take a more strategic approach to chemical sourcing and shrink the source-to-pay cycle time. As a result, the client's procurement function has netted an additional 5% of savings already.
In addition, with improved category management, the client was able to maintain a better supply-to-demand ratio, both internally as well as with the external suppliers.
Impact Delivered:
More enriched supplier relationships
Additional 5% of savings in procurement costs
Maintain a better supply-to-demand ratio
Read the full case study: Click here
About SpendEdge:
SpendEdge is a global leader in procurement market intelligence space acts as strategic partner to over 200 global procurement organizations delivering insights on category landscape, supplier identification, negotiation strategies, price benchmarking, cost modeling, sustainability practices, and more.
Over the past 2 decades, SpendEdge has worked with procurement organizations across regions, of varying sizes and belonging to several industries. They have helped their clients solve procurement problems of varying complexities. Going above and beyond, the organization heads to the best possible extent using different methodologies to deliver timely and actionable recommendations to support decision making.
SOURCE SpendEdge
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