Lately, the electronic components industry has been proliferating due to the continuous development of consumers, growing indispensability of electronics in the current digital era, and a similar increase in opportunities in the upstream supply chain. However, according to SpendEdge’s spend analysis experts, the massive cost of manufacturing the electronic components poses a significant challenge for the growth of this industry.
As a result of such predicaments, players in the electronic components industry have started adopting spend analysis solutions to determine the current state of spend and gain a stronger foothold in the market space. Additionally, the spend analysis solutions offered by SpendEdge also help players in the electronic components industry to assess and enhance management decision by devising cost-effective strategies.
The Procurement Pain Point and Insights Offered
A global electronic components manufacturer wanted to gain an in-depth understanding of their current supply chain structure. Additionally, the electronics components client wanted to evaluate the risks and profitability associated with the supply chain. Furthermore, the electronic components manufacturer wanted to gain recommendations and insights on their spend pattern to achieve significant cost savings.
To cater to the precise category requirements of the client, the spend analysis experts at SpendEdge carried out an in-depth two-step research methodology that involved primary and secondary research coupled with qualitative and quantitative data collection procedures to address the client’s specific business problems. During the course of this spend analysis study, the electronic components client gained insights into the ways to reduce overall procurement costs and improve their process efficiency across the supply chain. This engagement also helped the client compute and restrain supply chain risks through a chain vulnerability map.
Fundamental questions answered in this spend analysis study include
This spend analysis study helped the electronic components manufacturer determine their current state of spend and reduce maverick spends across the supply chain. Additionally, the client was also recommended ways to achieve significant amounts of cost savings.