Leveraging Supplier Data to Gain an Understanding of the Competitive Pricing | Get in Touch with SpendEdge’s Experts for Incisive Insights

SpendEdge, a leading provider of procurement market intelligence solutions, has announced the completion of their latest success story on leveraging supplier data to gain an understanding of the competitive pricing for a food company.

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Business Wire, Inc.Business Wire, Inc.
Retrieved on: 
Wednesday, March 4, 2020
Information
Tags: 
Supply chain management, Retail, Food, Beverage, Business, Articles, Competition, Economy, Pricing, Domain driven data mining, Spend analysis, Procurement, Price intelligence
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Summary
Key Points: 
  • SpendEdge, a leading provider of procurement market intelligence solutions, has announced the completion of their latest success story on leveraging supplier data to gain an understanding of the competitive pricing for a food company.
  • View the full release here: https://www.businesswire.com/news/home/20200304005503/en/
    The company wanted to perform a basic spend analysis to gain better insights into the spending patterns.
  • Request a free demo to gain actionable insights to devise an effective spend management strategy.
  • Leverage supplier data to gain an understanding of the competitive pricing.


SpendEdge, a leading provider of procurement market intelligence solutions, has announced the completion of their latest success story on leveraging supplier data to gain an understanding of the competitive pricing for a food company.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200304005503/en/

Project background

The company wanted to perform a basic spend analysis to gain better insights into the spending patterns. The key objectives of the engagement are mentioned below.

  • Objective 1: The company wanted to analyze the potential risks involved in the food suppliers’ space in terms of purchasing overlaps and savings leakage.
  • Objective 2: They also wanted to compare the spend with that of the industry peers.
  • Interested in gaining detailed insights? Request a free demo to gain actionable insights to devise an effective spend management strategy.

“Companies in the food industry must restructure and align their activities to lower costs and enhance profits to strengthen their position in the market,” says a procurement expert from SpendEdge.

Key findings and solutions offered

In collaboration with SpendEdge, the client – a prominent food supplier – identified savings opportunities. The solution offered helped them to:

  • Find ways to reduce the number of suppliers per category.
  • Leverage supplier data to gain an understanding of the competitive pricing.
  • Are you looking for solutions to improve cost savings? Request a free proposal to access our customized spend analysis solutions today!

Outcome: In order to help the client analyze the historical spend and gain a competitive edge in the market, the experts at SpendEdge performed deep-dive research comprising of interviews and discussions with prominent stakeholders in the food suppliers space. This helped the client to better plan a spend strategy and find ways to improve savings. The solutions offered further helped the client to consolidate the spend data into a central database, avoid supply chain disruptions, and standardize the spend data.

To access the complete case study on how we helped a food company to identify significant savings opportunities, read the complete case study here!

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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.

To gain more information, https://www.spendedge.com/get-more-info

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