SpendEdge, a well-known procurement intelligence solution provider, has announced the completion of their latest procurement best practices study for an automotive manufacturing companyThe study highlights how companies in the automotive sector analyzing the procurement trends and regulations of international supplier markets can help companies in the automotive sector reduce their sourcing costs. It also provides detailed insights on how companies can streamline their information flow and improve their supplier relationships.
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Procurement best practices study for an automotive manufacturing company. (Graphic: Business Wire)
With the rising competition, it has become crucial for automotive companies to reduce their sourcing costs to stay competitive. This has led companies to adopt procurement best practices and realize the full potential of their sourcing process. Also, it helps companies to create a balance between short-term savings opportunities and long-term transformational opportunities apart from substantial benefits.
According to the procurement experts at SpendEdge, "Devising a spend map and ensuring supply management is crucial for companies to gain better traction and reduce sourcing costs."
The Business Problem:The client is a leading company in the automobile manufacturing company in the United States. They were looking for new opportunities to expand their business to new and emerging markets. This necessitated them to gain detailed insights on procurement best practices to meet the regulations of the emerging markets. Also, they needed to devise a business model that can reduce excess spend and operational costs for the company. Such needs compelled the client to collaborate with SpendEdge and increase their efficiency.
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The Solution Offered:The experts at SpendEdge identified procurement best practices and helped the client to target specific regions. The actionable insights delivered further empowered the client to enhance their procurement system and successfully lower their sourcing and procurement costs by 11.2%. The synchronized supply management helped the client to evolve from a fixed-cost-driven supply network to a variable-cost-driven value network and streamline their information flow. The engagement also improved their supplier relationships and ensured high quality, flexible, and cost-effective supplier networks for the company.
Shifting from a from a fixed-cost-driven supply network to a variable-cost-driven value network can provide many benefits for companies. Request a free proposal and know how our portfolio of procurement solutions can benefit your organization.
SpendEdge's procurement best practices helped the client to:
- Decrease costs for the automotive company by 11.2%.
- Evolve from a fixed-cost-driven supply network to a variable-cost-driven value network.
- Want to know how implementing procurement best practices can help your organization reduce sourcing costs? Request a free demo now!
SpendEdge's procurement best practices also offered predictive insights on:
- Streamlining their information flow.
- Improving their supplier relationships.
- Read the complete article to know more: https://www.spendedge.com/casestudy/procurement-best-practices-helped-automotive-company-reduce-sourcing-costs-11-spendedges-success-story
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
View source version on businesswire.com: https://www.businesswire.com/news/home/20190304005726/en/
Contacts:
SpendEdge
Anirban Choudhury
Marketing Manager
US: +1 630 984 7340
UK: +44 148 459 9299
https://www.spendedge.com/contact-us
