Main Results
Over two dozen eSourcing events and 53 reverse auctions were implemented in the first 3 months.
19.3% average savings on supplies
Significant improvement in internal communications and operations streamlining
Will Scott
VP of Procurement
“There is nothing worse for a business than having to refund done sales just because we could fulfill them in time.”
Context
While BrightMart Retail has implemented other procurement processes in the past, those were mostly geared towards spend management and purchasing workflows. Yet, successful procurement needs to be more holistic and also encapsulate supplier sourcing, onboarding, and relationship management.
The retailer joined with Prokuria to track their performance and optimize their negotiations with suppliers so as to improve their terms and/or adjust their supply as needed. This process needs to be done on a consistent basis to ensure the viability and success of the business.
Resolution
By using Prokuria’s supplier relationship management capabilities, BrightMart Retail managed to strengthen its market position. It was also able to improve its internal stakeholder communication and engagement, boosting the company’s ability to meet its own needs at a moment’s notice. Lastly, the platform also helped align the company’s strategy with its procurement and supply chain needs.
