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Additional silent costs of coordination, administration, vendor communication traffic, data entry and order tracking quickly consume the workday hours for multiple employees in multiple departments.
These costs rapidly increase when dealing with added complexities such as new parts, legacy parts, time zones, currencies and new Vendors.
A Technology OEM with medium volume / high mix spend conflicted by non-linear sales forecast engaged Connect4 to launch a Kitting Program.
A Spend Analysis and detailed review of the past 2 years receipt history identified a diluted Vendor base ( Within 6 months of launch, bottom line benefits were measured including: Inventory turns hit double digits, over 250 low strategic value Vendors became inactive, and over 150 Vendors were consolidated under the Connect4 Kitting program, Production Stoppage threats dropped by 90%, Purchase Order generation lowered by 60%.
Bigger isn’t better when it comes to a supplier base. More businesses are rationalising and consolidating their supplier base to gain a competitive advantage through reduced costs, more collaborative supplier relationships and less risk of supply chain disruption.
These are some of the reasons that top-performing procurement organizations have 18 percent lower operating costs and 28 percent fewer full-time equivalent than their peers, per The Hackett Group.
In working with large enterprise type organizations, vendor reductions are generally more the 30 print vendors to 1.
Many of these organizations had no idea that their vendor relationships were so out of control and that implementing print vendor consolidation could be so beneficial.
As the premier provider of these services in the US, you can rely on our expertise to reduce costs and build efficiencies for your business.In fact, as per a recent research by Oxford economics, Though Vendor Consolidation is a time-consuming task, the benefits are worth the workload, which would ensure that the organization makes the most of its vendor relationship.Tell us more about what you think of Vendor Consolidation and its benefits in the comments section below.Further, consolidating vendors leads to simplifying the vendor interactions in the areas of procurement process and risk reduction.By moving to one managed print services partner to manage 100% of an organization’s printing and imaging needs, the following benefits are realized: When completing new client implementations for managed print services, Smart Print has helped mid-market clients reduce print vendors from 5 or more down to only 1, on average.
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The kitting program’s consolidation of spend realised better overall commercial purchasing terms significantly improving the Clients cash cycle.