How a Pharmaceutical Company Achieved Significant Cost Savings on Categories Using Plastic Polymers | SpendEdge

LONDON–(BUSINESS WIRE)–lt;a href="https://twitter.com/hashtag/MarketIntelligence?src=hash" target="_blank"gt;#MarketIntelligencelt;/agt;–SpendEdge, a leading provider of procurement market intelligence
solutions, has announced the completion of their procurement
market intelligence engagement for a pharmaceutical company.

Project background

The client wanted to develop a proper control mechanism that can
optimize business processes and minimize excessive costs for the
company. The time decided to achieve this business objective was three
months.

• Objective 1: The company wanted to reduce the turnaround
  time for the Purchase Requisition (PR) to Purchase Order (PO) process.
• Objective 2: They were keen to overcome cultural barriers
  restricting global standardization and scalability of their business
  operations.
• Interested in gaining more information? Request
  a free demo from our experts and analyze the factors
  impacting the procurement cycle.

“Procurement market intelligence solutions are crucial for companies
to classify critical-to-quality factors and reduce any excessive costs
involved with energy, overhead, materials, labor, transportation,” says
a procurement expert from SpendEdge.

Key findings and solutions offered

In a span of three months, the client – a
well-known pharmaceutical company – was able to centralize and
standardize the transactional procurement process to eliminate
disruptions in the supply chain. The efficiency of processes was
analyzed to measure the effectiveness of service delivery results. The
solution offered helped them to:

• Reduce the cycle time of Purchase Requisition (PR) to Purchase Order
  (PO) process from 0.5 days to 2 business days.
• Achieve cost savings on categories predominantly using plastic
  polymers.
• Having a process that can reduce the turnaround time for PR to PO
  process is imperative for companies to stay competitive and meet the
  changing customer demands. Request
  a free proposal and access our complete portfolio of
  procurement market intelligence solutions today!

Outcome: SpendEdge helped the client to consolidate suppliers who
can meet their rapidly evolving consumer demands. This improved the
visibility of productivity, service levels, and helped them to realize
cost savings on categories using plastic polymers. The services offered
also enabled them to establish contracts having provisions for raw
material price adjustments to deal with supply market fluctuations.

To access the complete case study on procurement market intelligence, get
in touch with our experts here!

About SpendEdge:

SpendEdge
shares your passion for driving sourcing and procurement excellence. We
are the preferred procurement market intelligence partner for 120+
Fortune 500 firms and other leading companies across numerous
industries. Our strength lies in delivering robust, real-time
procurement market intelligence reports and solutions.

Request free proposal to know more, https://www.spendedge.com/request-free-proposal

Contacts

SpendEdge
Anirban Choudhury
Marketing Manager
US: +1 630
984 7340
UK: +44 148 459 9299
https://www.spendedge.com/contact-us