8-10% in hard savings
The Client & the Challenge:
A top 10 global pharmaceutical company needed to reduce the complexity and expense associated with managing unique and separate small package contracts across seven distinct business units and required assistance with an enterprise-wide sourcing and contract optimization project.
Managing seven business units separately was complex and required advanced analytics that would provide corporate level impacts along with business unit analytics. Additionally, each individual business unit’s requirements were to be represented in the RFP as well as overall corporate level objectives.
The Trax Solution:
Combining deep transportation spend expertise with robust analytics, Trax Sourcing services delivered a comprehensive sourcing project, post bid analysis and negotiation assistance that enabled the client to meet their objectives. Specifically:
- Trax developed and executed an RFP and negotiation strategy that rationalized the existing set of seven separate contracts across multiple vendors to a single corporate wide contract.
- Trax developed a comprehensive compliance program to ensure that both projected efficiencies and identified hard savings were fully implemented and realized.
- Sourced and selected a single supplier to serve the small package spend category
- Awarded a corporate wide contract to replace seven separate contracts
- Delivered hard savings ranging from 8% to 10% across the spend category
- Delivered a compliance program driven by robust analytics and reporting