CASE STUDY

Category Management Study Helps a Diagnostic Services Provider Drive 12% In Savings

Nov 27, 2017

Category Overview

Over the past few years, the market for diagnostic services has proliferated owing the increase in the incidence of chronic diseases and aging population across the globe. request free proposalAdditionally, the diagnostic services industry space has seen an astonishing growth in innovation and improved technologies due to the higher demand for state-of-the-art diagnostic services from the patients. Consequently, to establish themselves and gain a stronger foothold in this market space, firms operating in the diagnostic services space have evaluating the dynamics, drivers, and niche segments of the markets to understand their customers better. Moreover, to optimize the cost structures and the efficiency and effectiveness of business relationships, firms have started opting for robust category management studies. These studies also help clients mitigate supplier risks, administer innovations, and improve supplier performance across the supply chain.

With years of experience in offering a wide array of category management solutions, the category management specialists at SpendEdge assists firms operating in the diagnostic services space to increase their focus on decreasing the overall procurement lead time for their process across business units.

The Procurement Pain Point and Insights Offered

The client, a leading player in the diagnostic services space, was facing challenges streamlining their business processes as they were extremely decentralized and fragmented due to rapid growth through acquisition and was spending millions on temporary labor with many agencies. As a result, they wanted to implement a vendor management system (VMS) and managed services provider (MSP) to centralize and better handle their temporary labor ownership issues and spends across their business units and locations.

To cater to the business requirements of the diagnostic services provider, SpendEdge’s category management specialists tailored a comprehensive research methodology, which involved primary and secondary research coupled with qualitative and quantitative data collection procedures. During the course of this category management engagement, the diagnostic services provider was able to facilitate a competitive RFP process to identify both an MSP and the supporting VMS online tool. This allowed the client to capture instant savings with the temporary labor agencies while allowing the MSP to entirely instrument and capture longer-term hard and soft-dollar savings.

Fundamental questions answered in this category management study include

Business Outcome

With the help of SpendEdge’s category management solutions, the client was able to compress wage rates, reduce recruited and payrolled markups. This helped the client improve their overall savings by 12%.

request free proposal

Recent Case Studies

Four Pillars of Procurement Excellence

Four Pillars of Procurement Excellence

How can procurement excellence help businesses improve cost efficiency In recent years, companies have started focusing on procurement excellence to capitalize on their core competencies and keep pace with the rapid rate of globalization and stringent regulations....

read more

Industries

Services

Getting Down To Business

We are offering Free Trials to all our customers or prospects who have been impacted positively or negatively by Covid-19 and are looking to connect with prospect buyers immediately.

Contact us

COVID-19

Featured

Overview

Buyers

Diagnostic Test Kit

Additional Resources
Contact

A LOOK INTO THE FUTURE OF THE FOOD AND BEVERAGE INDUSTRY AFTER THE COVID-19 PANDEMIC

Identifying the Top 100 Coronavirus (COVID-19) Test Kit Manufacturers Across Regions

Sourcing and Procurement Market Intelligence Services

Products and Tools

Featured

Services Overview

Category Market Intelligence

Supply Market Analysis

Low-Cost/Best-Cost Country Sourcing

Benchmarking

Spend Analysis

Cost Modeling and Should-Cost Analysis

Total Cost of Ownership (TCO) Analysis

Supplier Risk Analysis

Supply Chain Risk Assessment

Supplier Sustainability Assessment

Commodity Price Forecasting

Category Management

Supplier Negotiations

Contract Management

Procurement Store

Purchase Ready-to-use Reports

SEinsightsTM

Our Robust Procurement Platform

BizVibeTM

Suppliers and Buyers Marketplace

SUPPLY MARKET ANALYSIS FOR A METAL MANUFACTURING COMPANY HELPS ACHIEVE ANNUAL SAVINGS OF $15 MILLION

Industries

Industries Overview

Automotive and Tire

Banking, Financial Services and Insurance

Biotechnology, Pharmaceutical and Life Sciences

Chemicals

Energy

Food and Beverage

Industrial and Manufacturing

ICT, Media and Entertainment

Mining, Metals and Minerals

Retail and CPG

Transportation

INCREASING LOCAL PROCUREMENT BY 28% FOR A COMPANY IN THE METALS AND MINING INDUSTRY – A CASE STUDY BY SPENDEDGE

Resources

Featured

Resources Overview

COVID-19 Resources

Blogs

Case Studies

Whitepapers

Webinars

Press Releases and Media Mentions

5 KEY CORONAVIRUS RISK ASSESSMENT STRATEGIES TO OVERCOME HEALTHCARE SUPPLY CHAIN CHALLENGES

IDENTIFYING STRATEGIC PURCHASING PRACTICES FOR A COMPANY IN THE US FOOD SERVICE INDUSTRY | SPENDEDGE’S LATEST SUCCESS STORY

Clients

Featured

Clients Overview

Who We Serve

Case Studies

SUPPLY CHAIN MANAGEMENT HELPS AN IMPORT AND EXPORT INDUSTRY CLIENT ENHANCE SUPPLY CHAIN VISIBILITY

REALIZING SAVINGS OF $15 MILLION IN PACKAGING SPEND FOR AN FMCG CLIENT – PACKAGING SOURCING STRATEGY

About Us

News

About SpendEdge
Why SpendEdge?
Vision, Mission and Values
Clients
Social Impact
Global Offices

Press Releases and Media Mentions

Upcoming Events & Webinars