Spectrum Brands was interested in optimizing their recurring spend and consolidating agreements where feasible across 9+ spend categories. They had engaged a consultant with the goal of identifying the right group purchasing organization (GPO) for this spend. The consultant identified $25M in spend across several categories and expressed interest in additional spend areas.
OMNIA Partners Leads the GPO Space
Beats The Competition with Winning Solutions for $5B Brand
Their role was to advise Spectrum Brands on what GPO would make the best partner. The consultant formalized an RFP to be sent to several GPOs including, OMNIA Partners, CoreTrust, CoVest Sourcing Network, Procure Analytics (formerly Procurement Advisors), and others, that outlined critical evaluation areas.
THOSE REQUIREMENTS INCLUDED, BUT WERE NOT LIMITED TO:
- Category Coverage
- Total Cost Savings Potential
- Business Alignment with GPO Strategy
- Supplier Fit & Ability to Work within Current Incumbent Relationships
- Change Management & Implementation Support
- Onboarding Systems & Training
- Savings Tracking & Compliance Enforcement
OMNIA Partners answered the RFP with all requested information but also wanted to have an open-ended conversation on priorities, and the value chain for Spectrum Brands. Through these discovery conversations OMNIA Partners was able to solve for a better experience and uncover the level of engagement that would make the most meaningful impact for Spectrum Brands’ unique goals.
We were able to align our suggested solutions to these needs and assess almost double the amount of applicable spend. OMNIA Partners displayed value across a wide breadth of spend categories enabling Spectrum Brands to make an informed spend decision.
6 Key Factors Leading to OMNIA Partners Risking Above the Competition
OMNIA Partners was able to apply our unique group purchasing approach to their spend goals and advise where partnering together would make a meaningful impact. Our high touch, high impact model empowered a more value driven and optimized experience for Spectrum Brands.
The Winning Results
Now OMNIA Partners and Spectrum Brands have a direct relationship to partner together on current and future spend management opportunities.
Spectrum Brands initially adopted 6 categories from OMNIA Partners; the categories adopted range from Small Parcel, Corporate Services, IT/ Telecom and Facilities Management, with several categories still being explored.
Other GPOs had membership or minimum qualifications, conditions, restrictions and or requirements. OMNIA Partners let Spectrum decide/select the categories and how together we would approach/address.
OMNIA Partners had the most relevant and comprehensive proposal, overview, presentation and offerings