Transforming Procurement Process Can Help Medical Devices Manufacturers Achieve Cost Savings | SpendEdge’s Latest Success Story Reveals How

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

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Transforming Medical Devices Procurement Process (Graphic: Business Wire)

Project background

The company wanted to increase cost savings by improving their spend visibility, proactively managing supplier risks, and identifying new sourcing opportunities. The key objectives they aimed to achieve through this engagement are mentioned below.

• Objective 1: The company wanted to transform their procurement process and address supply chain risks proactively. They wanted to shift their focus from merely reducing costs to improving supply chain visibility and patient safety.
• Objective 2: They also wanted to gain a competitive edge by introducing new and innovative products in the medical devices market and gain substantial savings by streamlining their medical devices procurement process.
• Want to visualize supplier challenges and track industry trends in real-time? Request a free demo to see our dashboards in action.

“For companies operating in the medical devices market, our solutions can help you better manage contracts, increase value from existing suppliers, and transform your sourcing and procurement process to meet the changing requirements of end-users,” says a procurement expert from SpendEdge.

Key findings and solutions offered

In a span of 3-weeks, the client – a medical devices company – was able to develop actionable cost reduction proposals, drive greater value from suppliers, and reduce excess spend. The solution offered helped them to:

• Initiate 200+ RFxs, create over 415 contracts, and process transactions worth $1 million.
• Gain detailed insights into the purchasing activities of key medical devices manufacturers.
• Wondering how transforming your supplier selection and evaluation process can help you achieve significant cost savings? Request a free proposal to access our complete portfolio of procurement market intelligence solutions today!

Outcome: The procurement process suggested by SpendEdge’s team helped the medical devices manufacturer to better analyze supplier bids and categorize suppliers on the basis of their performance and risk. This helped the client to implement better supplier relationship management frameworks and drive more value from existing suppliers. The transformed procurement process also helped the client to process transactions worth $1 million through new contracts.

To access the complete case study on how we helped a medical devices company to boost savings, create contracts, and analyze spend, 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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View source version on businesswire.com: https://www.businesswire.com/news/home/20190603005247/en/