Lowering Inventory Carrying Costs for an Industrial Materials Manufacturer by $0.7 Million | SpendEdge’s Latest Success Story

SpendEdge, a leading provider of procurement market intelligence solutions, has announced the completion of their supply management study for an industrial materials manufacturer.

Project background

The client wanted to improve its profitability and maximize shareholder value of the company by increasing asset utilization. The time agreed to achieve this objective was six months.

  • Objective 1: The company wanted to enhance their supply management process and analyze cost reduction opportunities.
  • Objective 2: They were also interested in exploring market opportunities to facilitate better sources of raw materials.
  • Want to gain detailed insights? Request a free demo and know how our experts can determine various cost-saving opportunities for your business.

Supply management involves the coordination of pre-production logistics and inventory management. It enables companies to identify and procure goods or services that are vital for the companys ongoing operations. It also establishes supplier management process and implements procedures that facilitate the procurement process, says a procurement expert from SpendEdge.

Key findings and solutions offered

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In a span of six months, the client “ an industrial materials manufacturer “ implemented documented procedures for forecasting and improved their production planning. They identified suppliers who can offer the most competitive pricing and meet their business demands. The solution offered helped them to:

  • Boost their brand value by ensuring timely delivery of products to customers.
  • Improve inventory planning and management by effective demand forecasting.
  • Ensuring timely delivery of materials can significantly boost brand value for companies. Request a free proposal and access our complete portfolio of supply management solutions today!

Outcome: The supply management strategy implemented by SpendEdge helped the client to redesign the warehousing process and ensure a continuous supply of materials. This substantially reduced supply chain costs and boosted the overall profitability of the client. The services offered further lowered the inventory carrying costs by approximately $0.7 million per year for the company and enabled them to improve their customer service process.

To access the complete case study on supply management, 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

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