LONDON–(BUSINESS WIRE)–SpendEdge, a well-known procurement intelligence solution provider, has
announced the completion of their latest strategic
sourcing engagement for a company in the biopharmaceutical industry.
The study gives a holistic overview of how companies with
inefficient procurement and strategic sourcing processes are
finding it challenging to address the complexities associated with
biopharma operations. It also provides detailed insights on how
deploying strategic sourcing process can help companies increase
their total savings significantly.
Biopharmaceutical
companies are finding it challenging to address the cost
pressures and declining profit margins. Increasing complexities,
emergence of new products, and process technologies are deteriorating
the situation to a great extent. To keep up with the demands, businesses
are compelled to improve their procurement and strategic sourcing
processes.
According to the procurement experts at SpendEdge, “Companies in
the biopharmaceutical industry must devise effective strategies
that can address new manufacturing technology platforms and avoid major
disruptions.”
The Business Problem: Being a
leading company in the biopharmaceutical industry, the client
wanted to focus on ‘new cancer drugs’ segment. They wanted to
restructure their goals and procurement functions that can meet the
evolving demands. However, this was not possible without an effective
procurement and strategic sourcing process. The need to transform
the strategic sourcing process compelled the client to leverage
SpendEdge’s expertise.
Wondering how restructuring procurement functions can help
companies tackle the increasing complexities in the supply chain? Talk
to our experts now!
The Solution Offered: With
the aid of experts at SpendEdge, the biopharmaceutical company
was able transition more than 15 indirect sourcing categories for
end-to-end sourcing. They were able to improve their category management
and spend management capability. This enabled them to cover their
services in three key regional markets including – Europe, Asia-Pacific,
and North America. Furthermore, the utilization of strategic sourcing
process empowered the company to exceed their expected savings by $5
million.
Want to know how your competitors are achieving millions in
savings? Request
a free proposal and let our experts guide you.
SpendEdge’s strategic sourcing helped the
client to:
- Achieve savings of $15 million.
- Deliver best-in-class services to three key regional markets.
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Interested in expanding your services? Request
a free demo and know how our strategic sourcing experts can
help you to drive end-to-end sourcing and category management.
SpendEdge’s strategic sourcing also offered
predictive insights on:
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
