The global car rental services industry is expected to proliferate over the next few years owing to the increase in international air travelers and increase in the volume of domestic tourists across the globe. Moreover, evolving trends, which have a direct impact on the dynamics of the car rental services industry, include enhanced user experience through digitization, the introduction of autonomous vehicles and green vehicles, improved technologies in car rental services are boosting the growth of this market. However, making the most out of the prospects in this industry space requires a comprehensive understanding of the central forces disrupting the growth of the industry. As a result, companies operating in the car rental services industry space have started leveraging the use of robust strategic sourcing analysis studies to streamline their sourcing and procurement processes across the supply chain and business units. Strategic sourcing analysis help companies operating in the car rental services industry to generate optimal methods and measurement tools to allow the organization to replicate upcoming results.
With over 14 years of proficiency in offering a wide array of strategic sourcing analysis solutions, SpendEdge assists companies operating in the car rental services industry to centralize the suppliers’ responses and automatically compare responses within the client’s system.
The Procurement Pain Point and Insights Offered
A renowned client specializing in offering car rental services was facing predicaments in managing their indirect spend owing to their rapid growth and lack of management. Additionally, multiple client sites had different business requirements and policies for rental car sourcing. This eventually subjected the client to excessive rental car rates and unfair terms and conditions.
To cater to the diverse business requirements of the client specializing in offering car rental services, SpendEdge’s strategic sourcing analysis experts tailored an extensive research which included primary and secondary research methodology coupled with qualitative and quantitative data collection procedures.
During the course of this strategic sourcing analysis engagement, the car rental services client was able to decrease the bid process timeframe while ensuring efficient and cost-effective vendor consolidation. Additionally, the client was able to classify the various car types, fees, and services that the client needed so that they could quickly ascertain their client’s travel requirements. Furthermore, they implemented e-sourcing tools to leverage the parent company’s international and domestic travel purchase decisions.
Fundamental questions answered in this strategic sourcing analysis engagement include
This strategic sourcing analysis engagement helped the car rental services client increase customer satisfaction through rationalizing the provider base, reduce contract administration, and overhead costs. Additionally, they established spend visibility at all levels of the organization which helped them achieve 20% in annual savings.