The pet supplies industry has purred along over the past few years due to the rising popularity of dogs, cats, fish, and birds as home companions. Moreover, growing popularity of pet ownership has facilitated demand for higher number of pet supplies. Also, fuelled by economic recovery, the pet supplies industry has expanded widely, despite increased competition from mass merchandisers, supermarkets, and online retailers that offer consumers greater convenience, variety, and competitive prices.
However, according to the supply management specialists, drastic changes in the retail environment over the past decade with e-commerce becoming an option poses a significant challenge for pet owners. Also, to balance brick-and-mortar risks with e-commerce risks and ensure consistency across channels, pet supplies manufacturers have started leveraging supplier profiling studies to identify high-risk suppliers. Moreover, the supply management solutions offered by SpendEdge also help pet supplies firms to develop a superior supplier operational and functional capability matrix.
The Procurement Pain Point and Insights Offered
A leading pet supplies manufacturer wanted to identify a list of high-risk suppliers. Additionally, they wanted to gain deeper insights into the supplier’s capability matrix. They also wanted to gain insights on the competitors’ products and service portfolio across various geographical locations. Furthermore, the pet supplies industry client also wanted to identify the profiles of key industry players by covering aspects such as financial structure, business profile, and their revenue.
To address the issues and meet the specific requirements of the client, the supply management specialists at SpendEdge carried out a comprehensive approach comprising of primary and secondary research. Also, our supply management specialists created a dashboard by compiling information from various proprietary sources such as company newsletters, journals, and media platforms.
With the help of this supply management study, the pet supplies industry client was also able to identify a list of high-risk suppliers and gain deeper insights into their capability matrix. Additionally, the client gained insights on the competitors’ product and service portfolio across various geographical locations. The engagement also helped the client gain insights on competitors’ financial structure, business profile, and their revenue.
Key questions answered in this supply management study include
The supply management study helped the pet supplies client identify a list of high-risk suppliers and gain deeper insights into their capability matrix. Additionally, the client was offered suggestions on pricing models to enhance engagements and drive ROI.