PESTLE Analysis Helped a Sportswear Manufacturer to Manage Risks and Achieve Savings of Over $6 Million – A SpendEdge’s Success Story
The Business Challenge The client, a leading sportswear manufacturing company in Europe, was facing predicaments in managing risks and changes in political policies. These changes were not only costing money and time for the company but were also delaying product delivery. The sportswear manufacturer was also finding it hard to analyze the purchasing habits of [...]READ MORE >>
The Business Challenge
The client, a leading sportswear manufacturing company in Europe, was facing predicaments in managing risks and changes in political policies. These changes were not only costing money and time for the company but were also delaying product delivery. The sportswear manufacturer was also finding it hard to analyze the purchasing habits of customers. They wanted to gauge the potential in Islamic countries but lacked the vital information on the tax system and strategies needed to promote their products.
Changing socio-economic policies can impact businesses negatively. Get in touch with our experts and know how you can analyze future problems through PESTLE analysis and devise effective business strategies to address them.
To help the sportswear manufacturing company, the experts at SpendEdge developed a PESTLE analysis template that presented data on various political, economic, and social factors affecting the growth of the business. They conducted in-depth research that comprised of qualitative and quantitative assessments to identify sourcing opportunities that can reduce excess spend for the company.
In a span of 75 days, the sportswear manufacturing company was able to boost their sourcing process by assessing the capabilities of the suppliers in the region. This enhanced their delivery process and also helped them improve their savings. The PESTLE analysis conducted by our experts further helped them gain vital information regarding the political and economic factors such as inflation, per-capita income, and taxation that were influencing the purchasing power of their customers. This subsequently helped the client to devise strategies that can increase the revenues of the company.
The sportswear manufacturing company achieved an annual savings of over $6 million with the help of SpendEdge’s PESTLE analysis engagement. Furthermore, the client was able to maintain a steady growth rate by improving delivery time and brand image. The PESTLE analysis also provided crucial information needed to promote their products in Islamic countries.
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What is PESTLE Analysis and Why is it Crucial for Businesses?
PESTLE Analysis, also referred to as PEST or PESTEL analysis is an analysis of the political economic, social, and technological factors in the external environment of an organization. In marketing, it is crucial for businesses to conduct a situational analysis before implementing any kind of strategy or tactical plan. PESTLE analysis does the same job for companies by identifying and responding to the changes in the macro environment. If conducted in regular stages, PESTEL framework can help companies differentiate themselves from the competition and gain a competitive advantage.
Analyzing external factors require years of experience and expertise. Request a free demo and know how our experts can assist you in conducting a PESTLE analysis.