CPG Procurement and the need for flexible, scalable bidding and analytical sourcing functionality
CPG procurement teams are finding it increasingly difficult to address the seemingly endless list of influencers impacting their direct and indirect spend categories. In fact, when using basic procurement tools, with limited analytical and bidding functionality, most companies are only able to get up to 30% of their spend under management through an eSourcing tool.
Improving your CPG Sourcing Strategy for Better Procurement Results
Five of the world’s largest CPG manufacturers turn to SciQuest for an improved eSourcing solution. The industry-focused CPG strategic sourcing solution from SciQuest drives new value where those other general-purpose procurement tools are falling short – with a flexible, scalable and powerful CPG sourcing approach that offers:
- Greater savings opportunities uncovered through spend aggregation and cost driver optimization
- Supply chain innovations obtained by engaging in a collaborative bidding process with suppliers and transportation carriers
- Productivity gains and more time to focus on strategy, thanks to product-enabled efficiencies
- Increased spend under management by addressing challenging spend categories
Tackling the challenges facing the CPG Industry
For more than a decade, SciQuest has been helping some of the world’s largest consumer packaged goods company tackle their procurement challenges and enhance their supply chain initiatives. Through this experience, we have come to recognize a number of common complexities across the CPG industry:
- Complex CPG logistics across global supply chains
- Cost management in volatile and highly competitive markets
- Aggregation and centralization of sourcing spends and practices
- Sustainable sourcing initiatives driven by consumer trends
We have supported our customers’ sourcing events in the areas of beauty and personal care products; household and garden care products; pet food and pet supplies; apparel and footwear; consumer durables; and food and beverage products.
For those product categories, SciQuest helps CPG manufacturers improve the procurement of direct materials and ingredients, packaging, indirect materials, transportation and distribution services, and corporate spends to support their supply chains.