SpendEdge Helped a Food Retailer with Cost Reduction

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Sep 11, 2023, 11:08 ET

NEW YORK, Sept. 11, 2023 /PRNewswire/ -- SpendEdge, a global leader in the procurement market intelligence space recently engaged with a renowned food retailer and fast-food chain and witnessed a decline in savings and a rise in costs although demand had steadily increased over the previous quarters.

In an attempt to identify the issue, the retailer audited their inventory, procurement, and sourcing departments and found high amounts of wastage, over-stocking, spoilage, and unnecessary expenses.

Game-Changing Solutions:

After understanding the extent of the client's challenges, the SpendEdge team of procurement experts decided to carefully study the intricacies of each requirement carefully and create bespoke solution to suit the scope of the client's business model.

As per the procurement leader, SpendEdge experts provided cost-reduction solutions to mitigate these issues, regain savings, and continue to produce high-quality products. The experts guided the food retailer to implement efficient cost-reduction best practices, to minimize wastage, reduce losses, and improve overall performance. By implementing spendedge solutions, the company integrated smart technology into their departments, creating a more hygienic, less error-prone, and well-tracked system. It also re-trained all employees to better handle stocking, spoilage, and supply chain complexities, while accepting feedback, suggestions, and changes provided by them, providing clearer insight into the groundwork and challenges. The food retailer identified and hired a highly-skilled supply chain manager to oversee all operations, coordinate between departments, improve efficiency, and identify more cost reduction opportunities. With all these changes in place, within a year, the company successfully restored efficiency, high savings, and a significant cost reduction, while offering high-quality products, expanding their business, and maintaining high customer satisfaction rates.

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About SpendEdge:

SpendEdge is a global leader in procurement market intelligence space acts as strategic partner to over 200 global procurement organizations delivering insights on category landscape, supplier identification, negotiation strategies, price benchmarking, cost modeling, sustainability practices, and more.

Over the past 2 decades, SpendEdge has worked with procurement organizations across regions, of varying sizes and belonging to several industries. They have helped their clients solve procurement problems of varying complexities. Going above and beyond, the organization heads to the best possible extent using different methodologies to deliver timely and actionable recommendations to support decision making.

SOURCE SpendEdge