The advent of robotic-assisted technologies, surging automation in end-user industries, advanced grinding techniques, and rising popularity of carbon fiber-reinforced polymers have boosted the growth of the machine tools manufacturing industry. Additionally, according to the category management experts at SpendEdge, evaluation of drivers, niche market segments, and market dynamics plays a critical role in influencing the machine tools manufacturing industry’s growth. As a result, machine tools manufacturers across the globe have started for category management studies to devise superior sourcing strategies across the supply chain.
Moreover, the category management solutions offered by SpendEdge also help machine tools manufactures reduce their overall inventory spending.
The Procurement Pain Point and Insights Offered
A global machine tools manufacturer wanted to maintain a better relationship with their suppliers and devise a superior sourcing approach. Additionally, the client wanted to gain insights into the supplier’s pricing, diversity and assess their best practices across the supply chain to gain a stronger foothold in the machine tools market space. The client also wanted to evaluate the key drivers and dynamics influencing the growth of the market.
To address the category requirements of the client, the category management experts at SpendEdge followed a comprehensive two-step research methodology, which included primary and secondary research coupled with qualitative and quantitative data collection methodologies. During the course of this category management study, the machine tools manufacturer was able to evaluate the drivers and dynamics of the market and gain insights on the suppliers’ pricing and cost structure across the supply chain through SpendEdge’s comprehensive SWOT analysis. Additionally, the client was able to assess competitors’ best practices and subsequently develop a better sourcing approach and maintain better relationships with their suppliers.
Key questions answered in this category management study include
This category management study helped the machine tools manufacturer devise better sourcing approach across the supply chain. Additionally, the client was recommended tools to enhance supplier selection decisions and reduce maverick spends.