Simfoni is pleased to announce it has been named by Supply & Demand Chain Executive as one of the winners of this year’s Top Supply Chain Projects award for their ongoing work with a leading U.S. manufacturer of high-end kitchen appliances. The award profiles innovative case study-type projects designed to automate, optimize, streamline and improve the supply chain.
As its strategic sourcing and procurement partner, Simfoni was able to overcome their client’s supply chain challenges and achieved significant cost savings through new sourcing capabilities. Tasked with providing an expedient, cost-effective, and sustainable solution to bolster the client’s sourcing function, Simfoni brought innovative new solutions to the table. Initially, the program focused on managing direct spend categories strategically to drive cost savings. However, as the pandemic continued to disrupt the supply chain, the program was reconfigured to focus on indirect spend opportunities, which focused on putting reduced pricing contracts into place, the implementation of Simfoni’s BuyDesk catalog service for daily procurement and supplier needs, and bringing added value through supplier consolidation, price increase mitigation, and supplier performance management.
Through deep spend analysis and the ability to quickly pivot strategy, Simfoni was able to achieve a greater savings return for the client. By recognizing and redirecting the focus from direct to indirect spend, Simfoni drastically increased monthly net and cumulative savings by a whopping 887% year over year, with the program continuously improving.
“We’re driving savings by bringing additional suppliers into the picture, something that end users don’t typically have the capacity to do. Simfoni exists because it is a full-time job to do market research, vet the suppliers, schedule site visits, schedule demos, and manage supplier performance,” said Dan Aquilino, Vice President of Global Delivery at Simfoni.
“The past 12 months has seen companies within the supply chain and logistics space upgrade, enhance, adopt and adapt in order to achieve greater efficiency along the chain,” says Marina Mayer, Editor-in-Chief of Supply & Demand Chain Executive and Food Logistics. “Companies partnered to implement each other’s software and technology and work smarter, together. And it’s these partnerships that have enabled many supply chain organizations to better manage inventory, reduce costs, retain employees, track data and analytics and build resilience for whatever disruptions may lie ahead,” Mayer adds.
Read more about Simfoni’s award-winning project here.
Go to SCDexec to view the full list of Top Supply Chain Projects winners.