Norwalk, Conn. -- Michaels Stores and procurement management firm LogicSource announced a five-year agreement under which LogicSource will provide print procurement and related services to Michaels. More than $250 million of print and promotional spend will be covered over the life of the contract.
Prior to beginning the relationship, LogicSource conducted a strategic analysis of Michaels’s entire print production ecosystem, from creative through to distribution. The supplier used this comprehensive understanding to identify potential cost savings and operational enhancements, such as increasing the company’s on-demand printing capabilities.
In addition, LogicSource will utilize its sourcing expertise, OneMarket technology and market leverage to achieve significant annual savings for Michaels.
“As a procurement partner, LogicSource has brought great insights and value to Michaels by: helping us access, understand, and better manage our investments in our major print channels,” said Paula Puleo, CMO, Michaels, which operates more than 1,030 Michael’s stores nationwide and in Canada, and more than 140 Aaron Brothers stores. “By bringing innovative thinking to the table in terms of resource management, partner selection, and future capability development, LogicSource really distinguished itself and we are confident that they will add tremendous value.”
The LogicSource print procurement team, composed of new talent and existing Michaels procurement professionals, is housed at Michaels headquarters in Dallas and will work side-by-side with other Michaels purchasing professionals to seize opportunities to be more effective and efficient.