SpendEdge, a leading provider of supplier market intelligence solutions, has announced the completion of their spend analysis engagement for a microelectronics manufacturer.
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Spend analysis engagement for a microelectronics manufacturer. (Graphic: Business Wire)
The company wanted to assess their expenditures, increase R&D investments, and run an RFP for new suppliers to meet the dynamic demands of the electronics industry. The key objectives they aimed to achieve through this engagement are mentioned below.
- Objective 1: The company wanted to analyze spend data and identify risks associated with current and new suppliers.
- Objective 2: They also wanted to meet regulatory compliance and engage with suppliers who can help them develop mechatronics technologies to make Industry 4.0 a reality.
- Wondering how performing spend analysis can help you achieve significant cost savings? Request a free proposal to access our complete portfolio of spend analysis solutions.
“Spend analysis is crucial for companies to analyze data spend per category and evaluate costs incurred by suppliers,” says Srinivas R, Procurement Manager at SpendEdge.
Key findings and solutions offered
In collaboration with SpendEdge, the client – a multi-billion microelectronics manufacturer – consolidated data into a central database and devised an effective spend strategy. The solution offered helped them to:
- Improve spend analysis process and negotiate the best contract deals with suppliers.
- Determine the amount spent on different categories and improve savings in those categories.
- Want to know how we helped an electronics company to devise an effective spend strategy and negotiate the best contract deals? Get in touch with our experts here!
Research Outcome: The spend analysis solution offered by the experts at the SpendEdge helped the microelectronics manufacturer to develop a spend analysis template and analyze the current state of spend. This helped the client to understand the key spend areas and develop a detailed commodity structure for direct and indirect spend categories. The spend analysis solution further helped the client to identify suppliers with top-class technological capabilities and negotiate the best deals with them. In addition, the solution provided enabled the client to determine the budget for research and develop and achieve an annual savings of $35 million.
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