How Supplier Performance Management is Enabling Companies to Reduce Net Adjusted Cost of Preferred Suppliers by 12% | SpendEdge

SpendEdge, a leading provider of procurement market intelligence solutions, has announced the completion of their supplier performance management study for an oil and gas company.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190423005553/en/

Project background

The company wanted to evaluate the performance for pipe, fitting, and flange suppliers to reduce excess spend. The time agreed upon with the client to conduct this engagement was two months.

• Objective 1: The company wanted to improve their supplier selection process by formulating and implementing a robust supplier performance management system.
• Objective 2: They were also looking for ways to assess supplier performance on the basis of quality and delivery.
• Interested in gaining detailed insights? Request a free demo and know how our solutions can help you improve the performance of suppliers.

“A robust supplier performance management program is imperative for companies to address procurement risks arising due to dependency on suppliers and quality issues,” says a procurement expert from SpendEdge.

Key findings and solutions offered

In a span of two months, the client – a leading oil and gas company – devised a conceptual supplier performance management framework to ensure the quality of sales and delivery accuracy from suppliers. The solution offered helped them to:

• Reduce operational costs, analyze the most profitable distribution channels, and optimize the utilization of assets.
• Identify opportunities to make improvements related to cost, on-time delivery, quality of goods and services, and inventory.
• Are you looking for solutions to reduce excess spend of the company occurring due to poor supplier performance? Request a free proposal and access our complete portfolio of supplier performance management solutions today!

Outcome: With the help of the experts at SpendEdge, the client was able to analyze the quality, delivery, service, and flexibility of suppliers and determine supplier performance score. This allowed them to evaluate the total cost of each purchase in comparison to the buyer's internal operating costs. The solution delivered also enabled the client to reduce the net adjusted cost of preferred suppliers by 12%.

To access the complete case study on how we helped an oil and gas company maximize the performance through supplier performance 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.

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View source version on businesswire.com: https://www.businesswire.com/news/home/20190423005553/en/