Improving the Cash-Flow and Achieving Over $80 Million in Revenues for a Food Company | SpendEdge’s Latest Success Story
LONDON--(BUSINESS WIRE)--Sep 12, 2019--
SpendEdge, a leading provider of procurement market intelligence solutions, has announced the completion of their latest success story on developing a consumer-oriented category management strategy and how SpendEdge’s solutions helped a food manufacturer achieve savings of over $80 million.
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The company wanted to develop product supply categories to identify additional growth opportunities. The key objectives they aimed to achieve through this engagement are mentioned below:
- Objective 1: The company wanted to devise a data-driven category management strategy to boost category sales.
- Objective 2: They also wanted to gain a broader perspective of the category management process and identify ways to minimize costs.
- Wondering how an effective category management strategy can help you uncover additional growth opportunities?Request a free proposalto know more about our customized procurement solutions for free.
“ Food companies in North America must identify ways to reduce costs while maintaining competitive differentiation to address increasing pressure on business models,”says Srinivas R, Procurement Manager at SpendEdge.
Want to identify ways to reduce costs while ensuring the efficiency of processes?Get in touch with our experts today!
Key findings and solutions offered
In collaboration with SpendEdge, the client – a North American food company – obtained category-specific insights and developed a better understanding of customers’ needs. The solution offered helped them to:
- Develop a consumer-oriented category business plan.
- Understand different aspects such as spend, demand, and competitors impacting the food industry.
- Obtaining industry-specific insights is crucial for companies to develop an effective category business plan.Request a free demoto access our web-based procurement platform category supply market insights.
Outcome: SpendEdge’s customized category management strategy helped the food company to create synergies across departments to improve both consumer value and business results. It enabled them to implement activity-based cost method and better manage costs with minimal resources. The comprehensive insights offered by our experts helped the client to strengthen the relationship with suppliers and streamline their marketing and product supply strategies. This helped them improve category sales, improve the cash-flows, and achieve over $80 million in revenues.
To gain detailed insights into the category management solution offered by our experts to the food company,request more information.
You may also like:
- Top 4 Benefits of Category Management to Grow Your Business
- Calculating Price Awareness Score and Ranking SKUs for a CPG Company with the Help of a Category Management Strategy
SpendEdgeshares 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/20190912005527/en/
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INDUSTRY KEYWORD: FOOD/BEVERAGE RETAIL
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PUB: 09/12/2019 08:47 AM/DISC: 09/12/2019 08:47 AM