LONDON–(BUSINESS WIRE)–SpendEdge, a leading provider of procurement market intelligence
solutions, has announced the completion of their strategic
sourcing engagement for a leading steel company.
Project background
The client wanted to improve cost savings in indirect and MRO spend by
reducing their sourcing costs. The total engagement period that was
agreed upon with the client to achieve this business objective was one
year.
-
Objective 1: The company wanted to streamline processes of the
acquired companies and adopt strategies that can improve the overall
efficiency. -
Objective 2: They also wanted to analyze cost structure of
suppliers, implement strategic purchasing, and reduce the reliance on
tier 1 or direct suppliers. -
Looking for more information? Request
a free demo and know how our experts can analyze the impact
of various cost components in real-time.
“Strategic sourcing enables companies to mitigate risk, enhance the
quality of goods and services, reduce costs, and improve supplier
relationship. It also streamlines the procurement process and creates
value in the customer-supplier interface,” says a procurement expert
from SpendEdge.
Key findings and solutions offered
In a span of one year, the client – a
leading steel company – significantly enhanced saving opportunities
by smartly using the excess material for offal utilization. The solution
offered helped them to:
-
Ensure secure supply of materials by mitigating risks associated with
resale programs and hedging. -
Analyze different suppliers and re-allocate the processing to a
low-cost producer in the value chain. -
Improving logistics management capabilities can boost profitability
for companies. Request
a free proposal and access our complete portfolio of
procurement market intelligence solutions today!
Outcome: The strategic sourcing process developed by experts at
SpendEdge helped the steel company to shift volume to suppliers in other
countries and import that steel at competitive prices. This enabled them
to save between 15 and 20% which accounted for an annual savings of $17
million a year. The solution offered, helped the client to gain
detailed insights to increase the usage of mini-mills and increase
profit margins.
To access the complete case study on strategic sourcing, contact
our experts here!
About SpendEdge:
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.
Request free proposal to know more, https://www.spendedge.com/request-free-proposal
