Case Study: Leading Pharmacy Benefits Manager (PBM) achieves up to 50% annualized cost savings and efficient sourcing of 50,000+ SKUs with ProcurePort eSourcing

Leading Pharmacy Benefits Manager (PBM) Implements ProcurePort eSourcing to Efficiently Source Prescription Drugs

Leading Pharmacy Company, a large pharmacy benefits manager (PBM) serving health plans, hospitals and employers worldwide, faced the challenge of competitively sourcing tens of thousands of branded and generic drug SKUs while driving supplier participation and implementing market-based pricing. To address limited market-pricing capability and inefficiencies in supplier competition, the customer selected ProcurePort and its eSourcing/strategic sourcing services (including eAuction, optimization and integration/customization) to meet their unique procurement needs.

ProcurePort deployed a configurable, ERP-integrated eSourcing platform with real-time bidding, optimization and the ability to manage 50,000–60,000 SKUs monthly, allowing commodity managers to run events after initial training. As a result, ProcurePort enabled dynamic supplier competition and pricing automation that delivered category-level annualized procurement savings ranging from 5% to 50% and materially improved sourcing efficiency and transparency.