Over the past few years, major players in the medical supplies industry have started facing predicaments in streamlining their increasingly complex supply chain activities. Additionally, the prevalent sourcing models in medical supplies industry landscape have significantly increased inventory management costs. Consequently, to curb the challenges associated with changing global demand, players in the medical supplies industry have started adopting strategic sourcing studies to identify the best sourcing location across geographies.
Moreover, SpendEdge’s, strategic sourcing experts help medical supplies industry client devise superior sourcing and procurement best practices across the supply chain.
The Procurement Pain Point and Insights Offered
A global medical supplies industry player wanted to identify and assess their sourcing strategies across best cost locations. Additionally, the client wanted to gain insights into the cost drivers and risk elements across the supply chain to cut down maverick spends. The client also wanted to conduct a supplier base analysis to gain a deeper understanding of the benchmarks of peer companies in the medical supplies industry.
SpendEdge’s strategic sourcing experts carried out a blended research methodology, which included primary and secondary research coupled with qualitative and quantitative data collection methodologies to cater to the category requirements of the client.
During the course of this strategic sourcing engagement, the medical supplies industry client was able to identify and assess the sourcing strategies across best cost locations. Moreover, the client was given insights into the low-cost country and best-cost country locations to carry out their sourcing activities. This helped them reduce maverick spends across the supply chain.
Fundamental questions answered in this strategic sourcing engagement include
This strategic sourcing engagement helped the medical supplies industry client to gain a deeper understanding of peer company benchmarking through supplier base analysis. Furthermore, the client was able to devise tools and processes to identify and leverage opportunities for superior strategic sourcing solutions across the supply chain.