LONDON--(BUSINESS WIRE)--SpendEdge, a leading provider of procurement market intelligence solutions, has announced the completion of their engagement on identifying different types of procurement risks for a Fortune 500 multinational conglomerate.
Project background
The client wanted a robust procurement system that can ensure timely delivery of products to its patrons spread across 35 countries. To do so, the client approached SpendEdge to leverage their expertise in identifying possible irregularities in the supply chain, determine suppliers’ financial stability, and manage different types of procurement risks across various business units.
- Objective 1: The company wanted to analyze and eliminate internal risks by critically evaluating the macro and micro-economic factors.
- Objective 2: They were also looking forward to consolidating suppliers and focus on tier 1 suppliers to lower the risks associated with them.
- Want to devise strategies that can proactively determine possible irregularities in the supply chain? Request a free demo and access our portfolio of solutions for free.
Solutions offered
In collaboration with SpendEdge, the client – a Fortune 500 multinational conglomerate – was able to decipher the types of procurement risks they may face throughout the procurement cycle. This analysis helped them to devise strategies that effectively limited the possibilities for frauds and corruption in their business. The solution offered helped them to:
- Reduce delays in the purchasing process by gaining better insights into the structure of the supply chain.
- Eliminate excess costs involved in re-tendering due to poor supplier performance.
- Increasing the efficiency of the purchasing process requires businesses to proactively identify various types of risks and resolve them. Download the full case study and know how our experts helped a multinational conglomerate to analyze different types of procurement risks.
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Key Takeaways
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Outcome: The procurement specialists at SpendEdge helped the client to analyze the financial stability of suppliers and devise a framework to manage them efficiently. This enabled them to consolidate suppliers on the basis of risks.
SpendEdge also helped the company's procurement officials to discuss current tenders in the market with potential suppliers. This formalized the approach involved in handling requests from high-risk suppliers and assured probity in the procurement process.
To access the complete case study on how we helped a multinational conglomerate identify different types of procurement risks, download 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.
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