Promoting Luxury Cars Sales Through Supply Market Intelligence: An Automotive Industry Case Study by SpendEdge
Engagement Overview: The client, a pioneer in the luxury cars segment in the southern United States, was seeking detailed insights into the automotive industry’s supply market scenario. The luxury cars client was looking at leveraging supply market intelligence to promote sales and gain a competitive edge. To identify and focus on key strategies that drive […]
The client, a pioneer in the luxury cars segment in the southern United States, was seeking detailed insights into the automotive industry’s supply market scenario. The luxury cars client was looking at leveraging supply market intelligence to promote sales and gain a competitive edge. To identify and focus on key strategies that drive sales, the automotive industry player approached SpendEdge to help them leverage its strong expertise in supply market intelligence to address the challenges in their supply network.
The supply market intelligence engagement entailed the use of a detailed quantitative analysis of various categories within the supply chain to identify and benchmark the best strategies to be adopted.
About the Client:
A multinational automotive industry firm specializing in the manufacturing and sales of high-end luxury cars.
The complicated nature of the automotive industry was compelling the luxury cars manufacturer to enhance their strategies to drive sales. Also, factors such as market dynamism and the ongoing industrial transformations posed several new challenges, which accelerated the need for a major transformation in their overall supply chain strategies.
To overcome such challenges and achieve multifunctional synergies across their global supply network, the luxury cars client wanted to leverage supply market intelligence.
How did SpendEdge Help the Client?
- Step 1: Scrutinizing relevant supply market data
The initial step revolved around the collection and analysis of supply market data to develop precise procurement strategies. This step included a detailed analysis of all the essential supply chain principles and elements required to build an efficient supply chain strategy which, in turn, enhanced their organizational performance to boost profitability.
- Step 2: Understanding the structure of the global market
A pre-requisite to any supply market intelligence assessment is to have a clear understanding of the commodity and its global market landscape. This helps businesses identify factors affecting their market growth. Detailed insights into the global supply market scenario also enabled the luxury cars client to identify the key market players and classify them based on their market size.
- Step 3: A tactical three-step supply market intelligence-based approach to drive business growth
The strategic approach helped the luxury cars manufacturer to devise effective strategies to enhance brand value, market presence, supply chain efficiency, and drive sales across their business units. It also enabled the client to analyze their business objectives, devise a commodity profile, examine cost structures, increase ROI, and improve market shares.
Key questions answered in this supply market intelligence engagement include:
Benefits of the Engagement:
The supply market intelligence solutions offered by our experts helped the luxury cars client to fine-tune their supply chain strategies to drive maximum sales. Our experts worked as an extension of the automotive firm to identify the success factors that uncovered major growth opportunities within the automotive industry.
Why is Supply Market Intelligence the ‘Need of the Hour’?
It is essential to possess the right ‘market intelligence’ at the right time even if the process deals with procurement related decision making. Access to timely and precise supply market intelligence offers a huge strategic advantage for businesses across industries. However, not having access to accurate supply market intelligence makes firms vulnerable to supply chain risks.
The growing competitive pressure in today’s automotive industry poses major challenges for players in terms tackling supply chain risks. This demands the need for developing a strong and efficient supply network, which will help improve organizational performance. To do so, and to achieve their long-term procurement goals, organizations are now approaching SpendEdge to leverage its expertise in supply market intelligence and to succeed in a hyper-competitive environment.
This engagement points out to the fact that supply market intelligence is an essential success factor, which enables an organization to achieve strategic business goals. The strategic use of market intelligence paves way for enterprises to tackle the ever-increasing procurement challenges.
Just like our luxury cars client, if your organization is also on the lookout for an objective way to drive sales, SpendEdge’s supply market intelligence solutions will help you do so by being your roadmap to success. So, wait no more! Go ahead and get in touch with our automotive industry experts to build the capability required to gain a competitive advantage.