3M

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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

An improved and automated supplier performance scorecard

Quarterly and Bi-annual review process

Quarterly and Bi-annual review process

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

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

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Learn more

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Learn more

Seeing is believing

Curious to see how other companies manage the economics of their workforce? Schedule a live demo with one of our TDXperts.

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