Case Study: National Brand Vendors achieves 3% procurement savings with Tredence

Improved the Process of Price Negotiations With National Brand Vendors

The retail client, a collection of national brand vendors, faced an inefficient and manual price negotiation process that lacked data-driven insights. They partnered with Tredence to automate and improve this process, aiming to better align raw material costs with component price fluctuations for smarter procurement decisions.

Tredence implemented a solution that involved analyzing price data, mapping comparable products, and creating interactive dashboards for decision support. This AI-driven approach automated negotiations and provided greater transparency into vendor pricing. As a result of this new data-driven process, the client achieved an average savings of 3% on procurement costs.