Case study - Best price
The aim of our Best Price Initiative is to be the first choice for our clients by providing the best price, quality and service through our strategic supply chain.
This work will ensure we can determine price competitiveness of our current preferred supplier prices, identify any potential non preferred suppliers in the market and help us to locate any subcategories that can offer any further savings, as well as exploring direct manufacturer relationships that are beneficial to IESA and our client.
How are we going to achieve this?
Our procurement team will analyse data including fast-moving products, high value items, critical stock items and existing pricing. From this analysis the SRM and SRE’s will identify opportunities to look at new preferred supplier negotiations, new categories, preferred supplier challenges or potential new relationships directly with manufacturers for certain products. This process is illustrated in the model below.
This is a continuous process undertaken by our procurement team. To date they have already reviewed over 3,000 lines, with the potential to deliver an addition £200,000 of client savings. We have also been able to introduce new preferred suppliers to the business as an examples Fluid Equipment Service Limited (FES) https://fluidequipmentservices.co.uk/ who specialise in pumps. This new relationship alone will bring IESA over £10,000 worth of savings for the client;
Expected benefits from this project are:
- To highlight areas where we are currently not competitive
- Discover new suppliers and manufacturers in the market
- Continually deliver improved savings for our clients
- Proactively drive excellent service
- Ensure preferred suppliers constantly offer competitive pricing
- Constantly challenging to drive best price for our clients
This is an exciting initiative which will ensure we are providing our clients with the best products at the best price through a world class strategic supply chain.
If you have any further questions, please contact the team