Streamlining supplier management process for cost savings.
A leading North American oil field services company wanted to conduct spend analytics for evaluation of its suppliers to implement the most cost effective solution.
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Optimization of supplier selection and management process to achieve cost savings.
The client had a global network of suppliers and wanted to analyze the spend on suppliers and procurement, quantify supplier profitability, and develop a supplier selection scorecard to shortlist ideal purchasing partners.
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Spend analysis, supplier evaluation and vendor scorecard development.
We developed a solution that was capable of churning the client’s global procurement and spend data and performing spend analysis, cost benchmarking, and supplier evaluation. Based on this, the client was able to create a vendor scorecard, to quantify supplier performance, map procurement spending to strategic sourcing requirements, and identify best possible options for supplier selection.
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USD 4 million savings on procurement spend.
The client used our vendor scorecard and insights to identify the most cost-effective suppliers and develop effective spend practice, which resulted in better supplier relationship management while reducing procurement spend by USD 4 million.