Case Study: Wesfarmers achieves greater procurement transparency and governance with Corcentric Sourcing

Wesfarmers doubles spend throughput year-on-year with Corcentric

Wesfarmers, one of Australia's largest listed retail companies, faced a challenge in managing the unique complexities of its vast and diverse retail spend. Their centralized procurement team was responsible for sourcing both merchandise (GFR) and non-merchandise (GNFR) goods and services, which required a more flexible and nuanced approach. To address this, they turned to vendor Corcentric and implemented their Sourcing solution to optimize their processes and gain greater transparency.

Corcentric's solution enabled Wesfarmers to shift to a hybrid procurement model, using a centralized approach for merchandise spend and a center-led model for non-merchandise spend. This specialization allowed their teams to manage the distinct nuances of each category effectively. The results were significant: Wesfarmers sourced over 80,000 GFR products, achieved 100% spend visibility, and doubled their spend throughput year-on-year since 2011, all while creating a more fair, transparent, and governed procurement process.

Wesfarmers