Achieving Annual Savings of $15 Million by Leveraging SpendEdge’s Supply Market Analysis - Latest Engagement Summary on the Metal Manufacturing Industry
LONDON--(BUSINESS WIRE)--Nov 26, 2018--SpendEdge, a well-known procurement intelligence solution provider, has announced the completion of their latest . The client is a renowned metal manufacturing company in the US with 133 manufacturing facilities, 24 service centers, and 48 metal mart locations. With the fluctuating prices of aluminum and steel, transportation dilemmas, shortage of skilled laborers, and raw material deficiencies, the client wanted to leverage supply market analysis to manage their sourcing and procurement processes and minimize their direct and indirect spends.
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Supply market analysis study for a manufacturing industry client. (Graphic: Business Wire)
Supply market analysis assists procurement planning and on-going management of supply orders by identifying the structure of the market, supply chain, hurdles to market entry, environmental factors, ethical considerations, and the buyer’s value in the market. Moreover, an in-depth study of the market helps businesses overcome risks and make the right sourcing decisions.
According to the procurement experts at SpendEdge, ” Understanding your organization’s supply markets is an integral part of developing an effective procurement strategy. The approach was designed to position supplier relations as a core business strength. ”
The supply market analysis solution offered by SpendEdge’s experts helped the client gain a comprehensive understanding of the competitors, their products, suppliers, services, and spending patterns prevalent in the industry. This helped them obtain a deeper understanding of the supply market and further helped the client outline the competitive forces influencing the market. Moreover, with the aid of our supply market analysis solution, the metal manufacturing industry firm achieved an annual savings of $15 million.
SpendEdge’s supply market strategies helped the client to:Gain better visibility into the procurement process Explore the future possibilities in the supply market To know more about the spend analysis strategies followed by different firms,
The engagement also offered predictive insights on:Shortlisting the key risks affecting the market space and use the procurement best practices to remove the bottlenecks and improve service efficiency. Gaining deep-dive insights into the growth drivers and allocate their resources to meet the business requirements. Read the complete article to know more:
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PUB: 11/26/2018 10:00 AM/DISC: 11/26/2018 10:01 AM