Bristol-Myers Squibb | Corbus

Bristol-Myers Squibb recently started a new project with a focus on spend analysis and data management. From this exercise, the company realized an opportunity by identifying the non-core functions associated with Tail End Spend, providing potential savings in the millions of dollars. The company has adopted a standard definition of tail end spend and strategy for managing it in categories such as IT, Research & Development, and Corporate Services. This methodical approach will help to consolidate suppliers and increase visibility. The presenters will discuss specific spend category examples, such as IT, outlining the methods used to centralize and structure spend activities, reduce resource allocation, and improve savings.

Contributors: Bristol-Myers Squibb, Corbus
Categories: Summit Presentations
SRC Type: Benchmarking and Analysis, Procurement Operations