How Efficio helped refocus MEC3’s procurement
Following its acquisition by Charterhouse Capital, the time was right for MEC3 to refocus their procurement strategy and turned to Efficio for a helping hand.
After Charterhouse Capital’s 2016 acquisition of MEC3, a global manufacturer of ingredients for artisanal gelato, MEC3 moved to increase its strategic position by acquiring two complementary businesses. These acquisitions provided the opportunity to create efficiencies and free up cash, with procurement being a key focus. As MEC3’s existing procurement team was small and had a largely non-strategic focus, Charterhouse engaged Efficio to help.
Efficio identified significant opportunities for cost reductions and rolled out a series of strategic sourcing initiatives to transform MEC3’s approach to procurement.
To accurately measure the resulting savings and to enable MEC3 and Charterhouse to quantify the return on their investment in the procurement transformation programme, Efficio implemented a new measurement approach and savings tracking tools. The savings on spend were outstanding.
At Efficio, we have developed enhanced savings tracking tools as part of our broader eFlow technology platform, giving firms access to the latest methodologies and dashboards created for each client to track their own unique categories and scope.
Efficio’s application, Pulse, provides businesses with a simple and effective way to track the progress of procurement initiatives and monitor the achievement of savings targets.