Over the years, the growth of the global textile industry is mainly dependent on the continuing major investment in innovation and invention. However, the rising demand for superior product and service offerings at a cost-effective price are one of the critical challenges faced by the manufacturers of olefin fabric across the textile industry. As a result, players operating in the olefin fabric manufacturing space are leverage the use of procurement best practices solutions to gain a comprehensive understanding of their sourcing and procurement activities to improve their overall profitability and formulate better negotiation strategies with the suppliers.
With years of expertise in providing a wide array of procurement best practices solutions, SpendEdge aids olefin fabric manufacturers to implement best-in-class sourcing and procurement strategies and consequently gain a competitive edge over the peers operating in the industry space.
The Procurement Pain Point and Insights Offered
A renowned olefin fabric manufacturing client was facing predicaments in assessing their sourcing and procurement best practices against their peers. Additionally, the client was facing difficulties in identifying the key suppliers operating in the olefin fabric manufacturing space.
SpendEdge’s procurement best practices experts personalized a blended research methodology, which involved primary and secondary research coupled with qualitative and quantitative data collection methodologies to cater to the business requirements of the client.
The procurement best practices engagement helped the olefin fabric manufacturing client identify the sourcing and procurement best practices adopted the peers in the industry space. Additionally, the client was provided with a list of suppliers operating in the manufacturing space. This helped them select the best supplier.
Fundamental questions answered in this procurement best practices study include
The olefin fabric manufacturing client was able to adopt best-in-class sourcing and procurement strategies across the supply chain. This helped them reduce their sourcing spends and reduce maverick spends across the supply chain.