AP NEWS
Press release content from Business Wire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

Key Benefits of SWOT Analysis for Procurement Organizations – SpendEdge Latest Article Offers Detailed Insights

November 22, 2019

LONDON--(BUSINESS WIRE)--Nov 22, 2019--

SpendEdge, a leading provider of procurement market intelligence solutions, has announced the completion of their latest article on the benefits of SWOT analysis for procurement organizations.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20191122005334/en/

The risk of disruption has increased manifold with the expansion of supply chains. Companies move goods over long distances and increase the number of transfer points in the transportation process. This results in in-route delays. The situation escalates further if organizations start adding volumes from new businesses to lower costs. The lack of centralized management in extended supply chains makes it difficult for organizations to control costs.

At SpendEdge, we understand that performing SWOT analysis can help companies analyze the role of the supply chain. Therefore, we have highlighted the key benefits of an effective SWOT analysis.

Benefits of SWOT Analysis for Organizations

Cost-effective

This is one of the major benefits of performing SWOT. Any procurement official capable of identifying the vendors’ core competencies, their willingness to extend favorable payment terms, and the ability to hold inventory for extended periods can perform a SWOT analysis. They just require a comprehensive understanding of the organization’s inventory management practices.

Managing inventory requires companies to analyze changing customer preferences and vendors’ core competencies. Book a free demo to access accurate performance ratings of vendors across different categories.

Provides a visual overview of the business

SWOT analysis is represented in the form of a two-by-two matrix with each quadrant representing strengths, weaknesses, opportunities, and threats. This provides an understandable view of the company’s strategic sourcing process and the supply chain. A SWOT analysis template determines discrepancies provides opportunities to capitalize on them. To perform a SWOT analysis,reach out to our experts now!

Unveils new opportunities

Companies often fail to identify opportunities to improve the supply chain. By conducting a SWOT analysis, organizations can easily identify opportunities and utilize them to implement new cost reduction initiatives within the strategic planning process. This can significantly improve the turnaround time of incoming parts and materials.

To know in detail about the benefits of SWOT analysis in the supply chain, read the complete article here!

You may also like:

About SpendEdge:

SpendEdgeshares your passion for driving sourcing and procurement excellence. We are the preferred procurement market intelligence partner for 120+ Fortune 500 firms and other leading companies across numerous industries. Our strength lies in delivering robust, real-time procurement market intelligence reports and solutions.

Request free proposal to know more, https://www.spendedge.com/request-free-proposal

View source version on businesswire.com:https://www.businesswire.com/news/home/20191122005334/en/

CONTACT: SpendEdge

Anirban Choudhury

Marketing Manager

US: +1 630 984 7340

UK: +44 148 459 9299

https://www.spendedge.com/contact-us

KEYWORD:

INDUSTRY KEYWORD: SUPPLY CHAIN MANAGEMENT RETAIL

SOURCE: SpendEdge

Copyright Business Wire 2019.

PUB: 11/22/2019 10:31 AM/DISC: 11/22/2019 10:31 AM

http://www.businesswire.com/news/home/20191122005334/en