LONDON–(BUSINESS WIRE)–SpendEdge, a well-known procurement intelligence solution provider, has
announced the completion of their latest strategic
sourcing study for a mining industry client.
Low return on investments over the last few years has augmented the need
for efficiency and establishing a strategic sourcing process in
industry. Mining companies are facing immense pressure to
identify new technology trends, especially those that concern the
availability of new mining software, to boost their efficiencies. Such
challenges have compelled companies in the mining industry to
shift from a manufacturing-based business model to a service-oriented
business model and adopt a strategic sourcing process to
categorize and deploy the right sourcing strategy apart from negotiating
favorable terms with suppliers.
According to the procurement experts at SpendEdge, “Mining
companies need to enhance value for stakeholders by discovering,
acquiring, developing, producing, and marketing mineral resources
profitably, especially in the segment dealing with coal production.”
The Business Problem: The
client is one of the fastest growing companies in the mining industry
and employs over 1500 professionals across various geographical
locations in the world. Their high annual spending on logistics and
sourcing activities compelled the client to leverage SpendEdge’s
expertise in setting up a strategic sourcing process. They wanted
to identify strategic sourcing best practices to streamline their supply
chain, warehouse management processes, and inbound and outbound
transportation functions. Moreover, they also wanted to develop robust
sourcing analysis capabilities across categories and geographies to
enhance their visibility into spending and boost savings.
The absence of a strategic sourcing process results in costly
errors and increases overall spending for companies in the mining
industry. To know how we can help mining companies to analyze risks,
security, and pricing policies, talk
to our experts.
The Solution Offered: The strategic
sourcing best practices recommended by experts at SpendEdge helped
the mining industry client to analyze the procurement trends
and implement procurement automation technologies to streamline their
sourcing processes, increase savings, and boost transparency. The
solutions offered enabled the mining industry client to develop a
best-practices methodology to reduce sourcing cycle time by creating a
long-term interrogable repository of supplier responses and strategic
sourcing activities across business units. Improvements in the strategic
sourcing process empowered the mining companies to identify
new opportunities and changing market trends. With our help, they
were able to implement the right sourcing strategy, negotiate favorable
terms with suppliers, and achieve savings of 35%, compared to
their current spend.
An effective strategic sourcing process can make a tremendous
difference in the supply chain of mining companies of all sizes. Request
a free proposal to know how companies can standardize
their procurement processes and stay ahead of the curve.
SpendEdge’s strategic sourcing process helped
the client to:
- Achieve savings of 35% when compared to their current spend.
- Integrate their end-to-end procurement process from source to contract.
Want to develop a best-practices methodology to reduce sourcing
cycle time? Request
a free demo and know how we can help you to identify
strategic sourcing best practices and implement right sourcing
SpendEdge’s strategic sourcing process also
offered predictive insights on:
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. To know more, https://www.spendedge.com/request-free-proposal