Global beauty leader gets a procurement makeover
SynOps’ blend of human expertise, machine efficiency, and data analytics is transforming source-to-pay for a global beauty leader.
A striking new look for procurement
In a fast-moving, hypercompetitive consumer industry like beauty, where customer expectations keep evolving and new market entrants are causing disruption, it is imperative for leaders to invest in their businesses.
One beauty leader of numerous upscale, globally celebrated beauty brands decided to refocus operations on a high-value, high-growth future. With a goal to double the company’s revenue while maintaining a sustainable cost structure the company knew they needed a partner to create a strong foundation for growth.
Procurement was central to this ambition. But legacy processes and entrenched ways of working meant the team was spending too much time on routine transactional activities.
It was time for a new approach. The vision? To reimagine the procurement function, freeing the team from transactional work to focus on strategic value-adding work and support next-level procurement outcomes for this digitally transformed business.
This multinational is leveraging SynOps to accelerate the maturity of its global indirect procurement function through intelligent operations.
Gradually expanding the scope & technical sophistication of indirect procurement through SynOps.
Transformed efficiency and visibility through detailed market analysis, sourcing expertise, supplier, contract management and category management.
End-to-end RFx activities including training and managing suppliers, executing non-disclosure agreements, and setting up new vendors.
This global beauty leader has significantly increased the efficiency of its day-to-day indirect procurement with standardized processes, automated buying, and self-service capabilities.
A 20 percent return delivered within two years on an addressable spend of $750 million
$50 million total savings forecast in sourcing alone
Over 90 percent of all indirect spend now visible at transaction level through improved analytics and reporting
Enhanced buyer and supplier experiences
This global beauty leader has significantly increased the efficiency of its day-to-day indirect procurement with standardized processes, automated buying and self-service capabilities.
Analytics capabilities set to track transaction-level detail for over 90% of indirect spending to improve buyer behavior and supplier management.
Digital transactions are cutting turnaround times dramatically. Buyers are automatically routed to suppliers. Suppliers get enhanced collaboration.
$750 million of tail-spend activity transformed by a dedicated team handling low-dollar, high-volume purchases, improving compliance.