The Procurement Pain Point
With an aim to assess the dynamic demand supply landscape for aftermarket services and identify the key suppliers and their operational capabilities, the client – a world-leading manufacturer of fertilizers and chemicals products– approached SpendEdge to engage in a procurement market intelligence assessment to help them better understand the supply market landscape. The aim of this procurement market intelligence engagement was to offer insights on the category essentials, supplier landscape, supply market, and the latest cost drivers and their impact levels on the market.
The prime objective of this procurement market intelligence engagement was to assess the aftermarket services for rotating equipment, especially for compressors. The key end-user industry that was under focus was the fertilizer or chemical industry due to its high demand for compressors. Additionally, this engagement also focused on offering insights on the major pain points faced by the category managers while procuring effective services.
To meet the specific category requirements of industry-leading suppliers in the aftermarket services sector, SpendEdge’s experienced procurement market intelligence team tracked latest developments and procurement trends in the market through secondary journals and reached out to key stakeholders, KOLs, product users, procurement experts to understand their views on the market. Our procurement market intelligence experts also spoke to key stakeholders to understand how the market would grow in the short and long term to validate the market size and opportunity model developed for this industry.
Procurement Insights Offered and the Outcome
To address category requirements specific to the client’s needs, we deployed an experienced team of procurement and sourcing analysts working under a project manager with significant experience in managing and conducting studies specific to aftermarket services. The insights offered followed a blended approach of qualitative and quantitative assessments followed by data analysis and category-specific insights development.
In just six weeks, the client – a world-leading manufacturer of fertilizers and chemicals products– was able to gain a better understanding of the aftermarket services for rotating equipment. Furthermore, to help the client develop effective strategies for market expansion, the procurement experts at SpendEdge also focused on estimating the current market size, market segments, the latest market trends, drivers, and challenges, and the key requirements of procurement managers and challenges faced by the major category managers.
The procurement market intelligence service offered by our team also helped the client understand the global market landscape by analyzing the key suppliers, their operational capabilities, recent mergers and acquisitions, service footprint or capabilities, and the key geographies covered by them. Additionally, a pricing and costing overview for aftermarket services, including an overview of pricing models and benefits comparison, was also offered to the client to help them identify the current and future market opportunities.
Some of the additional questions answered by our procurement market intelligence study included
This case study offers information on how our procurement market intelligence study helped a global client understand the aftermarket services for rotating equipment.