Procurement Award Winning Case Series from Horizon 2013: Part 2
We started the ‘Procurement Award Winning Case Series from Horizon 2013’ to discuss the business case studies of the award winning companies and understand their procurement differentiators & success factors to better procurement performance. We started the series by discussing the business case of Cargill, Inc. to understand their success factor to winning the Ace Organization Adoption Award. The Ace Organization Adoption Award is given to the best organization wide adoption of Zycus’ solutions through improved processes and user KPIs. This award had two winners, namely Cargill, Inc. and Cubist Pharmaceuticals. We will now explore the business case presented by Cubist Pharmaceuticals that led to their winning the award.
Cubist Pharmaceuticals is a biopharmaceutical company with activities spanning from research and development to commercialization of pharmaceutical products. Its main products address unmet medical needs in acute care, specifically pathogens like MRSA. Cubist is one of the few firms that have continued to research in antibiotics while larger pharmaceutical companies have abandoned such research. The company employs 638 people, with 370 in their headquarters in Lexington, MA.
*Revenue: $258.8 million
- No. of projects completed in iSave = 301
- No. of projects already planned for 2014 = 104
- There was no tool prior to iSave to measure adoption. When we implemented iSave, adoption went to 100% because it is the only source of record for savings tracking.
- The most critical metric for Cubist had been the ‘Savings Realized’ through iSave’s adoption – $9.2MM in savings against a $8MM target (as reported in 2012)
(Savings Realized, Actual savings etc. are one of the Configurable Savings’ stages in iSave)
Cubist’ Actual Savings Report
To check out the interviews and experience of Horizon 2013 Attendees, click here.