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Management Consulting Industry Procurement Intelligence Report | Rationalization of Supply Base Will Help Buyers Increase Their Cost-Savings | SpendEdge

January 30, 2020 GMT

LONDON--(BUSINESS WIRE)--Jan 30, 2020--

SpendEdge has been monitoring the global management consulting industry and the industry is poised to experience spend growth of over USD 100 billion between 2019-2024 at a CAGR of nearly 7% during the forecast period. Request Free Sample Pages.

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Read the 120-page research report with TOC and LOE on “The Global Management Consulting Industry – Procurement Intelligence Report, Pricing Outlook in Geographies that include APAC, North America, South America, and MEA, top suppliers, supplier selection and negotiation strategies, and insights into best practices to optimize procurement spend.”

The global business scenario is eventually getting complex with the pressing necessity to attain operational efficiency, maintain compliance with regulations, and advancements in technology. These complexities are the results of the exponential growth of industries like the financial and manufacturing sectors. To tackle such complexities buyers from business sectors are expected to heavily rely on management consulting services to make data-driven decisions. This will drive spend growth in this industry.

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Factors that will drive procurement expenses in the management consulting industry

Insights into category management strategies that will help buyers optimize their procurement spend

Optimizing procurement spend does not stop at getting the product from suppliers at reduced rates. Most of the buyers in the management consulting industry fail to realize that an impactful supplier relationship management is crucial to create avenues to save costs in the long run and also to facilitate effective category management in an industry that is characterized by price dynamism.

Acquiring the right mix of global and regional service providers

Buyers are advised to partner with global service providers who have expertise over vast sectors. However, if their local presence is weak or non-existent, then it is crucial to engage with regional service providers. It is essential that buyers should clearly separate the engagement with global and regional players to avoid service level overlaps.

Benchmarking service providers against industry prices

It is prudent of buyers to invest in benchmarking studies that will help category managers to enhance their knowledge about industry prices. These insights will help buyers to save costs and be in a better position to negotiate with service providers. For instance, while negotiating for bundled services, buyers can save significant costs by cross-verifying the rates quoted by other potential service providers against industry benchmarks.

Buy 1 report and get the second for 50% off. Buy 2 reports and get the third for free. Download the free sample of this report on the management consulting industry.

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About SpendEdge:

SpendEdge shares your passion for driving sourcing and procurement excellence. We are the preferred procurement industry intelligence partner for 120+ Fortune 500 firms and other leading companies across numerous industries. Our strength lies in delivering robust, real-time procurement industry intelligence reports and solutions. To know more, https://www.spendedge.com/request-free-proposal

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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: PROFESSIONAL SERVICES CONSULTING

SOURCE: SpendEdge

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PUB: 01/30/2020 11:00 AM/DISC: 01/30/2020 11:01 AM

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