How a Pharmaceutical Company Achieved Significant Cost Savings on Categories Using Plastic Polymers | SpendEdge

LONDON--(BUSINESS WIRE)-- SpendEdge, a leading provider of procurement market intelligence solutions, has announced the completion of their procurement market intelligence engagement for a pharmaceutical company.

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Procurement market intelligence engagement for a pharmaceutical company. (Graphic: Business Wire)

Project background

The client wanted to develop a proper control mechanism that can optimize business processes and minimize excessive costs for the company. The time decided to achieve this business objective was three months.

• Objective 1: The company wanted to reduce the turnaround time for the Purchase Requisition (PR) to Purchase Order (PO) process.
• Objective 2: They were keen to overcome cultural barriers restricting global standardization and scalability of their business operations.
• Interested in gaining more information? Request a free demo from our experts and analyze the factors impacting the procurement cycle.

“Procurement market intelligence solutions are crucial for companies to classify critical-to-quality factors and reduce any excessive costs involved with energy, overhead, materials, labor, transportation,” says a procurement expert from SpendEdge.

Key findings and solutions offered

In a span of three months, the client – a well-known pharmaceutical company – was able to centralize and standardize the transactional procurement process to eliminate disruptions in the supply chain. The efficiency of processes was analyzed to measure the effectiveness of service delivery results. The solution offered helped them to:

• Reduce the cycle time of Purchase Requisition (PR) to Purchase Order (PO) process from 0.5 days to 2 business days.
• Achieve cost savings on categories predominantly using plastic polymers.
• Having a process that can reduce the turnaround time for PR to PO process is imperative for companies to stay competitive and meet the changing customer demands. Request a free proposal and access our complete portfolio of procurement market intelligence solutions today!

Outcome: SpendEdge helped the client to consolidate suppliers who can meet their rapidly evolving consumer demands. This improved the visibility of productivity, service levels, and helped them to realize cost savings on categories using plastic polymers. The services offered also enabled them to establish contracts having provisions for raw material price adjustments to deal with supply market fluctuations.

To access the complete case study on procurement market intelligence, get in touch with our experts here!

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.

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