Business Challenge: Challenges with identifying the right suppliers in Latin America and evaluating their capabilities
A leading manufacturing firm was facing issues with the identification of potential suppliers of metal fabrication products from the Latin American region, and with evaluation of their capabilities to select the right suppliers.
Situation: The client was facing difficulties with understanding of the local market and language constraints stopping them from negotiating better
The client had limitations with the understanding of the Latin American region, and also was facing challenges with communicating with local vendors due to language differences. They wanted us to support them with RFP support for shortlisting the best suppliers and helping them negotiate better.
Approach: We leveraged its local market expertise in Latin America and helped the client identify and engage with the best suppliers
We took a systematic approach to developing a long list of suppliers matching the qualification criteria put forward by the client. Followed by this, we shortlisted the suppliers based on their operational and functional capabilities and in consultation with the client. RFPs were floated to the shortlisted suppliers, and based on an assessment of their responses; we were able to develop recommendations on who should the client partner with and the best ways of negotiating prices and contract terms.
Impact: Client was able to shortlist the best suppliers in the Latin American region, and negotiate better
Based on our recommendations, the client was able to identify best suppliers for a long-term relationship. Also, our recommendations were implemented by the client to identify better negotiation levers and achieve maximum cost savings.