LONDON–(BUSINESS WIRE)–#Analytics–A global data analytics and advisory firm, Quantzig, that delivers
actionable analytics solutions to resolve complex business problems has
announced the completion of their latest engagement
during the course of which they helped an American medical
device manufacturing company to achieve enterprise-wide visibility
and control over procurement spend.
With the growing need to drive positive cash flows, businesses across
industries have started focusing on procurement cost optimization to
improve process efficiency. However, the most common challenge faced by
organizations revolve around procurement cost optimization and spend
data management. Also, most businesses do not possess basic analytical
capabilities and tend to rely on poor quality datasets for
decision-making. Robust procurement cost optimization solutions can help
you identify the opportunities and risks while enabling you to build a
robust foundation for all your cost optimization initiatives.
What is procurement cost optimization?
To gain a competitive edge in today’s complex business scenario it’s
essential for businesses to focus on reducing procurement costs.
Quantzig’s procurement
cost optimization solutions help organizations to reduce spend and
achieve sustainable bottom-line improvements. Our cost optimization
solutions not only offer better insights into factors affecting
procurement spend but also help ensure positive cash flows.
Our procurement cost optimization capabilities include:
- Web Crawling-based Supplier Cost Assessment
- Ad-Hoc Procurement Analysis
- Purchase Order Flow Management
- Supplier Performance Scorecard and Dashboard
- Supplier OTIF Optimization
The Business Problem: The
client is a well-established medical device manufacturing company based
out of North America. With the ongoing changes and surmounting
pressures, medical device manufacturers are challenged by the need to
reduce procurement costs and improve process efficiencies. Similar
challenges along with low compliance of procurement and requisition
processes curtailed the client’s ability to capture and analyze spend
data. The medical device manufacturer chose to partner with Quantzig to
tackle this challenge and achieve enterprise-wide spend visibility into
factors affecting spend.
Our procurement cost optimization solutions can help you track and
manage maverick spend. Get
in touch with our experts for more insights.
The Solution Offered: To help
the client tackle their challenges and improve procurement efficiency,
we adopted a multi-step approach to cost optimization that focused on
several aspects including cost optimization, procurement overhead
reduction, and inventory cost reduction. Our cost optimization solutions
played a crucial role in streamlining the end-to-end procurement
operations to help the client achieve $3 million in OPEX savings.
This success story is a classic example of how our procurement
cost optimization solutions can help manufacturers to meet the
regulatory requirements and improve process efficiency. Request
a free proposal to know more about the benefits of our
supply chain analytics solutions.
Quantzig’s procurement cost optimization
solutions helped the client to:
- Develop a procurement spend map to unlock new savings opportunities
- Improve service levels and performance through cost optimization
-
Request
a free demo to know more about our procurement cost
optimization capabilities.
Quantzig’s procurement cost optimization
solutions offered predictive insights on:
-
Implementing the best procurement policies and data governance
processes - Improving process efficiency
-
Reduce procurement costs and improve productivity with customized
cost optimization solutions. Request
for more information now!
About Quantzig
Quantzig
is a global analytics and advisory firm with offices in the US, UK,
Canada, China, and India. For more than 15 years, we have assisted our
clients across the globe with end-to-end data modeling capabilities to
leverage analytics for prudent decision making. Today, our firm consists
of 120+ clients, including 45 Fortune 500 companies. For more
information on our engagement policies and pricing plans, visit: https://www.quantzig.com/request-for-proposal
Contacts
Press Contact
Quantzig
Anirban Choudhury
Marketing
Manager
US: +1 630 538 7144
UK: +44 208 629 1455
https://www.quantzig.com/contact-us
