CASE STUDY

Leveraging Spend Analysis Solutions to Improve Process Efficiency in the Medical Device Market Space

Aug 29, 2017

Category Overview

Increased competition in the health care industry has forced many medical equipment companies to adopt new technologies and establish themselves in this market space. This high level of competition between the peer medical equipment companies has resulted in the development of upgraded techniques and innovation in medical equipment.

However, according to the spend analysis professionals at SpendEdge, medical equipment companies are required to showcase a high level of cost-effectiveness for their products due to the implementation of stringent reimbursement policies and regulations across the globe. As a result, many medical equipment companies have started opting for spend analysis solutions to effectively improve process efficiency and create value across the supply chain.

Moreover, the spend analysis studies offered by SpendEdge, help medical equipment companies evaluate and improve their management and identify cost-effective strategies.

The Procurement Pain Point and Insights Offered

Like several other medical equipment companies, the medical device client wanted to gain insights on how to devise a single platform to integrate their purchasing activities. Additionally, they also wanted to streamline their procurement process by cutting down on the excessive inventory costs and material spends. Furthermore, the client also wanted to identify and gain a list of key suppliers in the market space and analyze their patterns of spending. request free proposal

The spend analysis professionals at SpendEdge carried out a comprehensive research methodology which included an in-depth primary and secondary research coupled with qualitative and quantitative data collection methodologies to cater to the specific category requirements of the client. During the course this study, the medical equipment companies were able to gain insights on the different ways to improve their process efficiency and decrease procurement costs. Additionally, the client was also able to classify their major spend areas by using a standard taxonomic approach. Furthermore, this study also helped them identify and analyze the spending pattern of key suppliers in the market space.

Key questions answered in this spend analysis study include

medical equipment companiesBusiness Outcome

The spend analysis solution helped the medical equipment company to identify and reduce inefficiencies in its procurement system. This helped the client manage risks, recover overpayments and reduce maverick spends across the supply chain. Additionally, the client was offered recommendations to improve their process efficiency and optimize spend areas.

Want to know more about our spend analysis solutions for medical equipment companies?

request free proposal

Recent Case Studies

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