Strategic Sourcing Analysis Helps a Leading Consumer Electronics Retailer Streamline Sourcing and Procurement Process
Today, the retail shopping behavior and pattern of the customers have drastically changed due to the ease of availability of internet and smart devices. Additionally, with the growing preference for mobile shopping over the traditional methods of shopping, retail firms in the consumer electronics space are looking for promising solutions to streamline their sourcing and procurement processes. As a result, leading consumer electronics retailers across the globe have started leveraging the use of robust sourcing analysis studies. These studies help consumer electronics retailers standardized, centralized, and streamline their sourcing and procurement process across business units.
With years of proficiency in offering strategic sourcing solutions, SpendEdge helps consumer electronics retailers devise superior sourcing and procurement best practices. Additionally, these solutions also help clients decrease their turnaround time for their procurement processes.
The Procurement Pain Point and Insights Offered
A leading consumer electronics retailer with business units spread across the globe was facing predicaments in achieving effectiveness and efficiency across their sourcing and procurement processes. Additionally, the client was also facing difficulties in establishing a flexible resource deployment model to improve their productivity of internal operations. Also, the client wanted recommendations on standardized reporting tools to measure the spend management capabilities across the supply chain.
To cater to the specific business requirements of the consumer electronics retailer, the strategic sourcing analysis experts at SpendEdge tailored a comprehensive research methodology. This all-inclusive research methodology included primary and secondary research coupled with qualitative and quantitative data collection procedures.
During the course of this sourcing analysis engagement, the consumer electronics retailer was able to identify and assess the sourcing strategies in terms of low-cost and best-cost country locations. Additionally, the client was recommended with robust approaches and tools to devise quick strategic sourcing and procurement processes across platforms and business units consequently helping them achieve significant cost savings.
Fundamental questions answered in this sourcing analysis engagement include
The strategic sourcing analysis engagement helped the consumer electronics retailer gain actionable insights into the supplier negotiation strategies to engineer procurement best practices across the supply chain. Additionally, the client was able to streamline their procurement efforts significantly.