LONDON--(BUSINESS WIRE)--Sep 27, 2019--
SpendEdge, a leading provider of procurement market intelligence solutions, has announced the completion of their latest success story on realizing savings of £50 million by reducing the GNFR expenditure for a UK retailer.
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The company wanted to drive maximum benefits out of their Goods Not for Resale (GNFR) expenditure. The key objectives they aimed to achieve through this engagement are mentioned below:
- Objective 1: The company wanted to address declining profit margins amidst weakening demand and rising costs.
- Objective 2: They also wanted to increase their market share by improving ROI from GNFR procurement.
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“ Since companies in the UK retail industry are facing an ever-increasing pressure to retain their market share, differentiating offerings through innovation and marketing strategies is imperative for them to grow the market share,”says Srinivas R, Procurement Manager at SpendEdge.
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Key findings and solutions offered
In collaboration with SpendEdge, the client – a renowned company in the UK retail industry – aligned their procurement strategy with their business strategy and increased the spend under control. The solution offered helped them to:
- Realize the set target of £50 million in-year savings.
- Implement best practices for GNFR procurement to improve operational efficiency.
- Improving spend visibility requires access to granular insights.Request a free demoto improve procurement decisions by analyzing the costs of various available alternatives and the benefits provided by each one of them.
Outcome: SpendEdge's customized UK retail industry analysis helped the client to identify key categories within the GNFR supply market. This helped the client to adopt a centralized approach for GNFR procurement and minimize expenditure managed within individual business units. Our analysis offered further helped the client to reposition and redefine procurement within the business, mitigate supplier risk, and improve the cash flow. They were able to return greater value to their shareholders by improving GNFR spend management.
To gain detailed insights into the solution offered by our experts to the company in the UK retail industry,request more information.
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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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PUB: 09/27/2019 09:41 AM/DISC: 09/27/2019 09:41 AM