Over the years, logistics companies across the globe have started adopting spend analysis solutions to reduce their sourcing and procurement activities costs across the supply chain. This is due to the rising need to curtail costs among the target audiences and stay ahead of the competition in this market space. Moreover, logistics companies are devising robust spend analysis solutions to gain actionable insights into the spend drivers accurately; thereby, increasing saving opportunities.
Furthermore, with the aid of SpendEdge’s spend analysis solutions, logistics companies can discover the strategic sourcing opportunities and accordingly allocate resources.
The Procurement Pain Point and Insights Offered
Like other logistics companies, a renowned global logistics firm was facing predicaments in reducing sourcing and procurement costs across the supply chain. As a result, the client wanted to understand the spending pattern and devise a robust supplier pattern analysis to identify the supplier risks.
To cater to the category specific requirements of the client, the spend analysis experts carried out a blended two-step research methodology, which included primary and secondary research and qualitative and quantitative assessments.
During the course of this spend analysis engagement, the client was able to devise a state-of-the-art tool which provided comprehensive spend solutions across the supply chain. Additionally, the client was able to classify, validate, enrich data, thereby delivering a better visibility into the spending patterns across the enterprise.
Fundamental questions answered in this spend analysis study include
The client was able to streamline their strategic sourcing plan that resulted in reduced maverick spend and improved cost savings across the supply chain with the help of this spend analysis solution. Additionally, the client increased visibility into their spending patterns and aggregated spend by commodity.