Industry: Healthcare Company
Service: Strategic Meetings Management
Facts:
- Developed preferred supplier strategy to maximize savings and contracting efficiency
- Targeted specific suppliers and brands to ensure fit for a wide breadth of meeting sizes and complexity
- 3 selected suppliers
- USD 2.1M+ in Year One savings
Brief
- Recommended expanding preferred supplier strategy from transient-only to ensure large global healthcare client maximizes cost savings and contracting efficiencies for all travel
- Developed competitive proprietary RFP, in partnership with client, to focus on targeted M&E pain points and priorities
- Critical success factors:
- Pre-negotiated terms and conditions
- Speed to contract
- Competitive discounts and savings
Solution
- After approximately one year of negotiations, 3 suppliers selected for 2-year agreements based on offer and portfolio variety
- Deployed thoughtful supplier management to ensure client’s position protected
- Provide ongoing reporting of results through bi-annual supplier meetings and client Quarterly Business Reviews
- Develop stakeholder engagement through training and quarterly preferred supplier showcases on topics chosen by suppliers, including new openings, initiatives, etc.
Result
- Since implementation in late Fall 2021, achieved USD 2.1M+ in savings for 2022-2024 programs
- Simple exhibits finalize venue contracts as MSAs replace large client addendums to ensure acceptance of key T&Cs
- As approximately 80% of current meetings are lower complexities with short lead times, each supplier includes ideal options for quick-turn meetings
- With current sellers’ market and staffing challenges, negotiated discounts and ability to contract quickly have resulted in bigger impact than anticipated; agreements may be auto-renewed from previous in-person event
Bringing you a new limitless era to meetings and events
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