LONDON–(BUSINESS WIRE)–SpendEdge, a leading provider of procurement market intelligence solutions, has announced the completion of their latest success story on mapping over 90% of spend by creating a proprietary procurement model for a company in the specialty retail industry.
The company wanted to produce the right products in the right volumes at the right time. The time agreed upon with the client to conduct this engagement was six months.
- Objective 1: The company wanted to develop a proprietary procurement operating model to better manage spend.
- Objective 2: They also wanted to create an agile process to address the uniqueness of non-merchandise spend.
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“Since the special retail industry is driven by broad macroeconomic variables rather than product-specific trends, companies must build an agile procurement process to face increasing competition,” says a procurement expert from SpendEdge.
Key findings and solutions offered
In a span of six months, the client – a company in the specialty retail industry in North America – increase spend under management by 35%. The solution offered helped them to:
- Utilize real category management to track all upcoming exposures.
- Gain comprehensive insights into the specialty retail industry and map over 90% of their spend.
- Are you looking for solutions to devise effective spend management strategies and gain category-specific insights? Request a free proposal to access our tailor-made solutions today!
Outcome: To help the client better manage their non-merchandise spend, the experts at SpendEdge recommended a procurement model that involved GNFR using a Centre-led model and GFR using a centralized model. This approach helped the client to gain greater transparency within the procurement process and create the opportunity for continual process improvement. The solution offered also helped the client to get the best possible terms during every purchase.
To access the complete case study on how we helped a company in the specialty retail industry manage non-merchandise spend, get in touch with our experts here!
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