Supplier Profiling Assists A Renowned Media and Entertainment Client Increase Their Supply Chain Efficiency By 25%
Media and Entertainment Industry The global media and entertainment industry consists of film, print, radio, and television. These segments include TV shows, movies, radio shows, news, music, books, magazines, and newspapers. Lately, the media and entertainment industry has undergone significant transformations in terms of mergers and acquisitions and have been the vital factors for the [...]READ MORE >>
Media and Entertainment Industry
The global media and entertainment industry consists of film, print, radio, and television. These segments include TV shows, movies, radio shows, news, music, books, magazines, and newspapers.
Lately, the media and entertainment industry has undergone significant transformations in terms of mergers and acquisitions and have been the vital factors for the strong growth of this segment. Such changes in the industry have also led to the globalization of several media and entrainment multinationals. Moreover, companies operating in the media and entertainment industry have also started facing pressures to enhance their process efficiency due to the ongoing digital revolution across the globe. Companies in this sector are also facing demands owing to the proliferating customer and pricing expectations.
- Mobile compatibility: Today, media portals need to have a strong mobile presence to keep pace with the changing lifestyle due to the rise in the mobile technology. Moreover, developing a responsive web design (RWD) is crucial for companies to keep pace with the changing lifestyle.
- Relevance in today’s digital landscape: Multinationals operating in the media and entertainment industry must look to increase their focus on moving to a more of an audience-based approach, driven by data inputs to stay competitive and cater to the specific business requirement of the clients. Also, delivering real-time communications in the digital space are expected to develop a better relationship between the marketer and the consumer.
Many such factors are compelling firms within the media and entertainment industry to leverage the use of robust supplier profiling solutions.
The Business Challenge and Our Journey
The client, a leading media and entertainment industry player with business units spread across the globe, wanted to gain better visibility and improve the efficiency of their supply chain process. As a result, they wanted to identify the prominent suppliers and segment them based on the cost structure and profits. The client also wanted to devise an effective supplier management solution to monitor and evaluate supplier performance.
The supplier profiling experts at SpendEdge carried out an extensive research methodology comprising interviews and discussions with prominent stakeholders in the industry to help the client increase their supply chain efficiency. The experts also compiled information from reliable sources such as trade shows, paid industry databases, and industry forums in the media and entertainment industry to help the client improve their on-time delivery of the products.
During the course of this supplier profiling engagement, the media and entertainment industry client was able to profile the potential suppliers and identify their strengths and weaknesses. Additionally, the client was able to compare the performance of their suppliers with that of the competitors. This helped them develop better operational facilities and enhance the functional capabilities.
Fundamental questions answered in this supplier profiling engagement include
The supplier profiling engagement helped the media and entertainment industry client to improve their supply chain efficiency and build robust relationships with the suppliers. Additionally, the client was able to refine their existing business models and make timely, contextual, and accurate business decisions across business units.