The Procurement Pain Point
A leading technology company providing location services and e-commerce solutions with operations in North America was facing challenges streamlining their sourcing and procurement process for major spend areas including MRO, facilities, IT, and marketing. The client wanted to identify the key support areas and ways to standardize and improve the overall effectiveness of the process. Furthermore, the client also wanted a better understanding of the best-in-class industry benchmarks, pricing and supplier engagement models, price negotiation strategies, and supply market trends.
Procurement Insights Offered and the Outcome
To assess the market and address the client’s requirements, SpendEdge’s analysts followed a multiphase research process including primary and secondary research methodologies backed up by qualitative and quantitative data analysis. We deployed a dedicated team of four FTE analysts with expertise in procurement support services supported by our vast database of secondary resources and valuable inputs from category experts and industry leaders. This study helped the client with a better understanding of the supply market, cost-saving opportunities, and price negotiation strategies. Additionally, we also offered the client with deep insights into the key market trends, demand-supply shifts, and procurement best practices.
This procurement market intelligence study helped the client identify the major suppliers in the market, improve the cost-saving strategies, and successfully implement category strategy for four vital spend areas. Furthermore, this study also helped the client with a better understanding of supply market landscape, price negotiation strategies, and pricing and supplier engagement models.