Oil Industry Supplier Energizes Savings

The Challenge

A specialty chemical company serving oil and gas markets around the world asked ERA to help them investigate cost-savings opportunities for laboratory supplies. With numerous labs in many states, was this global industry provider securing the best possible pricing?

The Solution

Following a thorough expense review, savings opportunities became apparent. First, more favorable pricing was negotiated for recurring items such as glassware, equipment, general supplies, chemicals and even specialized products including syringes. Second, deep discounts off the list price were negotiated for all other items from these categories.ERA also recommended monthly monitoring of all purchases to verify that special pricing and discounts would be maintained.

The Results

• Significantly reduced lab supply costs by 39% adding $164,837 to the organization’s bottom line

• Achieved greater control over costs, ordering processes and purchasing policy

• Enhanced cost-savings opportunities through supplier consolidation

• Minimized supplier pricing discrepancies through monthly monitoring

• Realized additional savings on shipping expenses, in addition to savings on lab supplies

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