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Enabled Leading Steel, Ore, Mines & Quarries Manufacturing Company Achieve 5% In Net Savings, Improve Service Levels & Reduce Cost With MRO Procurement Services (PR to PO)

Customer Profile

The world’s second-most geographically diversified steel producer in the world wanted a MRO (supplies for maintenance, repair and operations) partner who could strategically drive efficiencies & operational excellence across its procurement management processes. Conneqt handles Procurement management processes for the manufacturing client including PO creation (PR to PO) for MRO, Services, Bulk Purchase, Capital Purchase, etc.

Business Challenges
  • Long purchase cycles
  • Delayed payments
  • Poor cash flow visibility
  • Low PR conversion rates

Solution

Procurement strategy focused on creating ‘Competitive advantage’

Next-Gen Procurement Technology, “Cutting-edge sourcing tools”, automated procurement & Spend Management tools

Leverage “Domain expertise” & SOP-based Procurement Process

Benefits

Resulted in 5 % Cost Savings for Business (Negotiation & Strategic)

“60% PR Conversion Rates” Higher than industry benchmark 55%

“Reduction in PO Processing/Cycle Time”

MRO stands @ 33 days & Services @ 25 days

20+ customer appreciations in last 5 months

Timely payment

"Expertise available" to handle import PO's

Reduction in Long Pending (High aging PRs <60 days)

>90 days stand at zero