Know How Cost Down Improvement Initiatives are Enabling Companies to Improve Spend Visibility and Achieving Significant Savings | SpendEdge
LONDON--(BUSINESS WIRE)--May 28, 2019--
SpendEdge, a leading provider of procurement market intelligence solutions, has announced the completion of their category management study for a medical devices company.
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Category management study for a medical devices company. (Graphic: Business Wire)
The company wanted to increase the incremental value of the organization by enhancing the category management process. The key objectives they aimed to achieve through this engagement are mentioned below.
“A robust category management system is a must for companies to integrate innovations, streamline operations, and reduce costs to survive in the medical devices market,” says a procurement expert from SpendEdge.
Key findings and solutions offered
In partnership with SpendEdge, the client – a medical devices company – implemented cost down improvement initiatives and achieved high-profit margins. The solution offered helped them to:
Outcome: The 8 step category management process implemented by the SpendEdge’s experts helped the medical devices company to obtain in-depth insights into the demand structure for goods and services. This enabled them to improve supplier performance management and deliver the lowest long term cost structure. The solution offered further helped the client to improvise category management process and gain incremental cost reduction of 2-3% apart from achieving savings of over 17% in a year.
To access the complete case study on how we helped a medical devices company to achieve savings of over 17% in a year and sustain it in the coming financial year, get in touch with our experts here!
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View source version on businesswire.com:https://www.businesswire.com/news/home/20190528005612/en/
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INDUSTRY KEYWORD: HEALTH MEDICAL DEVICES
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PUB: 05/28/2019 12:09 PM/DISC: 05/28/2019 12:10 PM