Business Challenge: Challenges with identifying the right suppliers of indirect categories and evaluating their capabilities
A leading logistics services provider was facing issues with the qualification of best suppliers bases on capabilities and cost, and identifying best negotiation strategies for cost saving.
Situation: The client was facing difficulties with understanding supplier qualification criteria and negotiation strategies
The client had limitations with an understanding of qualification and shortlisting process. They wanted us to support them with RFP support for shortlisting the best suppliers and helping them negotiate better.
Approach: SpendEdge leveraged its domain expertise and understanding of the supply market to help the client identify and engage with the best suppliers
We took a systematic approach to developing a long list of suppliers matching the qualification criteria put forward by the client. Followed by this, we shortlisted the suppliers based on their operational and functional capabilities and in consultation with the client. RFPs were floated to the shortlisted suppliers, and based on an assessment of their responses; we were able to develop recommendations on who should the client partner with and the best ways of negotiating prices and contract terms.
Impact: Client was able to shortlist the best suppliers who satisfied all their criteria, and was able to identify levers for better negotiation
Based on our recommendations, the client was able to identify best suppliers for a long-term relationship. Also, our recommendations were implemented by the client to identify better negotiation levers and achieve maximum cost savings.