Achieving Annual Savings of $15 Million for an Organic Food Store - SpendEdge’s Latest Supply Market Intelligence Engagement
LONDON--(BUSINESS WIRE)--Dec 14, 2018--SpendEdge, a well-known procurement intelligence solution provider, has announced the completion of their latest . The client is one of the world’s foremost organic food manufacturers and suppliers. Based out of a California city, the client generates an annual revenue of over USD 30 billion. With increasing competition and evolving customer preferences in the organic food market, the client realized the need to leverage a supply market intelligence engagement to build a robust and automated procurement approach to enhance integration with the suppliers and manage indirect spend across the supply chain.
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Supply market intelligence engagement for a food industry client. (Graphic: Business Wire)
As digitization takes the forefront and customer expectations evolve, organic food industry is expected to face unprecedented challenges. Supply market intelligence empowers organizations to keep abreast of the ongoing market disruptions to achieve long-term strategic business goals. Also, the strategic use of supply market intelligence paves way for organizations to confront the ever-increasing procurement and supply chain challenges.
According to the procurement experts at SpendEdge, “Supply market intelligence engagement helps enhance productivity and achieve tighter control and compliance across the supply chain.”
With the help of SpendEdge’s supply market intelligence solution, the organic food store achieved- tighter control and compliance across their business units, obtained better visibility on corporate spend across suppliers and subsequently improved their overall capability and productivity. On a broader sense, the client gained a more comprehensive knowledge of the supply market and achieved its goal of supplier diversification to address the increasing importance of emerging markets. This subsequently helped the client cut down direct and indirect costs and altogether helped the organic food store enhance market share, improve ROI, and achieve an annual cost savings of $15 million.
SpendEdge’s supply market intelligence engagement helped the client to:Enhance integration with their suppliers and manage indirect spend across the supply chain Gain detailed insights into supply and demand fluctuations in the market To know more about the supply market intelligence strategies followed by different firms,
The supply market intelligence engagement also offered predictive insights on:Conducting a detailed analysis of the supply market and developing a precise commodity profile Gaining in-depth insights into the suppliers’ segments and the cost of commodities Read the complete article to know more:
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INDUSTRY KEYWORD: RETAIL FOOD/BEVERAGE SUPERMARKET
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