Attaining $20 Million in Savings Annually for a Food Retail Industry Client - SpendEdge’s Latest Category Management Engagement
LONDON--(BUSINESS WIRE)--Dec 19, 2018--SpendEdge, a well-known procurement intelligence solutions provider, has announced the completion of their latest .
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Category management study for a food industry client (Graphic: Business Wire)
The client is one of the leading food retail industry firms established in the US. With a workforce of 15000, the food retail industry firm serves its customers’ requirements in 20+ countries across the globe. With increasing competition and evolving customer preferences in the food retail market, the client wanted to leverage a category management strategy to understand the demand for commodity prices and gain timely insights into the food retail market. Additionally, by leveraging a category management strategy, the client was looking at modifying their category management strategy to address changes in the global food retail sector.
According to the experts at SpendEdge, “By implementing an effective category management process, businesses can evaluate sourcing destinations, monitor supplier performance, and develop an effective category planning cycle.”
With the help of SpendEdge’s category management solution, the food retail firm improved supplier relationship management, strategic sourcing, and was able to bring about a procurement transformation. The category management strategy further helped their category managers to focus on conducting an in-depth market analysis to entirely leverage their procurement decisions on the behalf of the organization. Moreover, the new category management process helped the client to build better stakeholder relationships and achieve an annual savings of $20 million.
SpendEdge’s category management analysis helped the client to:Enhance procurement strategies and reduce source-to-pay cycle times Develop a robust category management process To know more about the category management strategies followed by different firms,
The category management analysis also offered predictive insights on:Streamlining procurement functions Increasing focus on strategic sourcing and enhancing supplier relationships Read the complete article to know more:
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View source version on businesswire.com:https://www.businesswire.com/news/home/20181219005448/en/
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INDUSTRY KEYWORD: SUPPLY CHAIN MANAGEMENT TRANSPORT LOGISTICS/SUPPLY CHAIN MANAGEMENT PROFESSIONAL SERVICES OTHER PROFESSIONAL SERVICES RETAIL FOOD/BEVERAGE
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PUB: 12/19/2018 09:57 AM/DISC: 12/19/2018 09:56 AM