Sourcing Event Uncovers Significant Savings and New Supplier Relationship
Sausalito, CA. March 5, 2014 – With increasing pressures on cost, VinAsset was asked to review a broader base of bottle suppliers that met all agreed upon requirements and to conduct a sourcing event to gauge the marketplace. Our member winery was able to forge a new relationship with a premium supplier and saved 28.7% on its 2014 bottle purchases.
Challenge
- Time-consuming process to research competitive prices for bottles
- Difficult to identify new suppliers that match exact specifications
- The winery uses unique label requirements that impact bottle selection
Objective
- Member winery wanted to reduce costs and improve its purchasing process
- Source three different bottle types
- Acquire a supplier with best-in-class quality and customer service
Solution
- VinAsset worked directly with winery to create an electronic RFQ that describes all necessary requirements
- Through the VinAsset platform, the RFQ was submitted to potential suppliers with one click
- The sourcing team was able to easily identify new suppliers that could produce bottles that matched all specifications
- The team received responses from nine qualified suppliers
Results
- Professional electronic sourcing event was conducted by VinAsset
- Two week duration
- Time-saving electronic responses
- Quotes organized for easy side-by-side comparison
- Member received timely samples
- Ease-of-use of the VinAsset platform made it quicker and easier for both winery and the supplier
- Member Winery saved 28.7% on its 2014 bottle buy with a new supplier
ABOUT VINASSET:
VinAsset is a Hybrid Group Purchasing Organization (GPO) in the adult beverage industry created to connect breweries, wineries and distillers to the right suppliers. We help our members and suppliers manage overall spend by reducing purchasing risk, conserving cash and improving productivity, all within our Vertically Integrated Network. Our cloud-based technology platform enables higher connectivity, visibility, compliance and profitability, simplifying procurement along the way. www.vinasset.com
