3M

Simplified supplier landscape by 75%

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Project Type:

Supplier Optimization

Client:

3M - Multinational conglomerate with $30 billion annual revenue

Sector:

Multinational conglomerate

The Issues

Complex supplier ecosystem with a lack of visibility and derived value
Decentralized supplier management processes and metrics
Complex supplier performance measurements with limited clarity and objectivity
Lack of consistency in supplier performance reviews and incentives
Lack of supplier marketplace analysis and optimization

The Solutions

Defined supplier management strategy including performance criteria and processes required to manage and simplify complexity
Designed scorecard methodology
Developed automated scorecard with configurable measurement and weighting using Brightfield TDX
Implemented and conducted supplier performance analysis
Developed supplier performance review format, Quarterly Business Review (QBR) process, and ongoing reporting strategy

The Results

Simplified contingent workforce supplier landscape by 75%
3M now have improved business visibility and transparency

Next Steps

3M’s contingent workforce spend is more than $150 million in the USA alone
They have contingent workforce in 85 countries worldwide

How did The Client benefit?

An improved and automated supplier performance scorecard

Quarterly and Bi-annual review process

Consistent management of supplier marketplace with an objective method for measuring suppliers

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