NEW YORK, September 18, 2023 /PRNewswire/ — Our client, a fast-growing food and beverage company headquartered in The United States With a global reach in over 150 countries, it aims to improve the sustainability quotient of its product components. The challenge was to increase the use of sustainable raw materials, with a particular focus on wheat and corn, two of their most important raw materials. To promote environmentally conscious practices, our client leveraged SpendEdge’s expertise to identify suppliers that use state-of-the-art technologies and sustainable farming practices. The goal was clear: to identify farms committed to environmentally friendly approaches, conduct comprehensive supplier audits and explore collaboration opportunities with local farms that use sustainable techniques.
SpendEdge’s sourcing consultants are dedicated to identifying agribusinesses that specialize in sustainably grown products. The journey included the use of extensive databases, trade associations and industry reports to compile a comprehensive list of potential suppliers. Next, our analysts conducted a rigorous capability analysis process to shortlist the most compatible suppliers. This careful evaluation considered a number of factors, including financial stability, average annual yield, agricultural technologies, product grading methods, sustainable practices, pricing structures, product and service quality, geographic proximity and alignment with the customer’s specific needs. In addition, SpendEdge provided invaluable advice on collaboration best practices and negotiation strategies when interacting with these suppliers, with the aim of securing the most favorable terms in terms of prices, delivery schedules and contractual obligations.
Thanks to SpendEdge’s extensive efforts, the customer was able to assess the sustainability initiatives of multiple suppliers and carefully curate a select list of preferred partners. The engagement best practices shared by our team proved critical in facilitating meaningful negotiations with potential suppliers, ultimately leading to the conclusion of contracts with favorable pricing terms. Incorporating Service Level Agreements (SLAs) and Key Performance Indicators (KPIs) into the contracts ensured robust quality control mechanisms and on-time deliveries, further strengthening the partnership.
The story goes on
SpendEdge’s commitment to sourcing excellence has not only transformed our client’s approach to sustainable ingredient sourcing, but also fostered collaborations that will continue to contribute to a greener, more sustainable future.
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SpendEdge is a trusted market intelligence solutions provider, providing businesses with invaluable insights to facilitate informed sourcing decisions. With a track record of providing actionable recommendations, SpendEdge helps clients achieve strategic goals and drive sustainable growth.
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