A large UK online retailer went through a downsizing exercise in the early part of 2023. This caused significant changes in demand, meaning that expenditure in many areas was far more than the business requirement.
There were also instances where certain technologies were no longer required, but long-term contracts were in place that needed to be negotiated out.
The goal of the project was to review all current vendor and supplier contracts, identify where savings could potentially be made, and then work with the procurement department to reduce the current level of expenditure to meet current business requirements. Our team was given a three-month deadline to make savings to the bottom line.
Cambridge MC was engaged on a three-month project to perform the following:
Our experience in procurement, contract, and vendor management enabled us to completely meet the brief set out by the client which was to deliver significant bottom-line savings in a three-month turnaround.
The benefits of the joint partnership between Cambridge MC and our client:
In excess of £10m savings achieved off the bottom line.
License requirements reduced to the correct level for the business.
Contracts managed far more closely.
Procurement team coached to function more efficiently.
All contractual obligations were met.
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