Global Leader in

Medical Devices

Key Products Sourced:

Indirect Materials and Services

Challenge:
  • Expiring patents and increased competition required a company-wide focus on cost reductions to protect margins and remain competitive
  • No historical integration between Supply Chain Management, Sourcing, and budget owners to strategically analyze and address the company's 3rd party spend
  • Sourcing was understaffed and existing skills sets were not adequate to support a company-wide strategic sourcing initiative
Solution:
  • Presented Supply Chain Management a detailed overview of the Strategic Sourcing process and how Sourcing could support achieving the company's business objectives
  • Completed detailed spend analysis and identified 57 potential savings opportunities
  • Conducted project chartering sessions with internal stakeholders to fully document requirements, current pricing and budgets, and future state aspirations on 39 projects
  • Augmented client staff with additional player/coach resources to drive execution, assess talent and develop a functional transformation roadmap for the business
Results:
  • Addressed 14 "Wave 1" categories that delivered $6M+ in savings on $56M in spend
  • Cited by client's Chief Marketing Officer and Chief Operating Officer for driving cross-functional integration and adding significant value in a manner to be replicated across the company
  • Built internal capabilities by leading, coaching and managing internal category teams
  • Facilitated the formal transformation of the Supply Chain Management team based upon the personnel and functional assessments completed to date