CHICAGO and LONDON, July 11, 2011 /PRNewswire/ --
- Retail Customers Cut Cost of Goods and Services in First Six Months of 2011
TradingPartners (http://www.tradingpartners.com) today announced it has saved its retail customers an average of 11 percent of total spend year to date with its spend management technology and services. TradingPartners works with many of the most trusted retail brands worldwide to deliver significant savings as part of their most strategic initiatives.
In the first half of 2011, TradingPartners managed retail spend negotiation activities across 50 categories including apparel, home decor, healthcare, home improvement, fresh and frozen meats, pet supplies, produce, shoes, and sporting goods, to name a few. These spend management activities have taken place in more than 10 countries globally.
Mark Barnekow, CEO of TradingPartners said, "We are extremely pleased with the work we have done with retailers in the first half of the year. Many of our retail customers are facing significant pressure from rising prices due to inflation and greater demand on raw material inputs driving prices higher. We hope to continue to exceed the savings expectations of our retail customers throughout the remainder of the year."
Many of TradingPartners' spend management activities with retail customers transcend the typical spend negotiation activity. The company actively works with its customers to execute strategic initiatives such as SKU rationalization and assortment initiatives, private label strategies, and supplier localization as part of their sustainability initiatives to name a few. In many cases, TradingPartners provides significant supplier augmentation services to assist retailers to find more cost efficient suppliers who can provide consistent quality supply of goods and services.
Based in Chicago, with European headquarters in London, and operations in Asia and South America, TradingPartners provides the most comprehensive and effective spend management technology and managed services to retailers and other corporations to reduce the cost of their direct and indirect purchases with tangible results often in the 10-25% range. TradingPartners' unparalleled domain expertise, comprehensive supplier database, and robust technology platform has helped hundreds of manufacturers, retailers, and service firms achieve dramatic, tangible cost savings. For more information, visit http://www.tradingpartners.com .