The fleet management industry is regarded as one of the primary industries in logistics and transport, driven by connected vehicles and smart transportation solution by various organizations. Over the years, this industry has seen an astonishing growth due to the higher efficiency and performance at reduced costs and a much-streamlined process. According to SpendEdge’s industry best practices experts, it has been noted that the tensions with procurement created by resource sharing, driver reimbursement, and life cycle costing are all affected by external market factors; thereby, challenging fleet management companies to cut down on costs. As a result, many fleet management companies have started adopting industry best practices studies to gain a list of diverse skill sets and establish themselves in this market space.
Moreover, the industry best practices studies offered by SpendEdge help fleet management companies adopt best-in-class sourcing and procurement strategies.
The Procurement Pain Point and Insights Offered
A leading fleet management company wanted to identify a list of the major competitor businesses and their key suppliers. Additionally, the client also wanted to implement a lean, scalable, best-in-class, and efficient procurement process and cut down costs. Furthermore, they also wanted to assess the sourcing and procurement best practices of peer group companies to serve their clients better.
To cater to the specific category requirements of the client, the industry best practices experts at SpendEdge carried out a blended research methodology, which included primary and secondary research coupled with qualitative and quantitative data collection methodologies.
During the course of this industry best practices study, the fleet management client was able to identify the key drivers for this procurement process transformation project, including organization design, technology, and optimization techniques. Additionally, the client was provided a list of the major competitor companies and their key suppliers to enhance their overall procurement process.
Key questions answered in this industry best practices study include
The industry best practices study helped the client implement a lean, scalable, best-in-class, and efficient procurement process. Additionally, the client was able to identify and discard the inefficient and unproductive processes across platforms. As a result, the fleet management client was able to cut down the overall cost.