Globally, the transportation industry has started witnessing sluggish growth, and the key investors are looking for effective ways to promote subsequent logistics activities while curtailing the costs associated with transportation. Also, with the increasing demand for transportation services, leading service providers in the logistics industry have started utilizing services that would help them cut down on costs associated with logistical functions. By leveraging procurement intelligence studies, renowned transportation services providers can gain relevant, timely information on the market dynamics. Also, leading transportation services providers can proactively gain insights on the supply risks and expand their market share and boost innovation with the help of such services.
The Procurement Pain Point and Insights Offered
A renowned transportation services provider was facing predicaments profiling the key competitors and managing spend. The client wanted to leverage procurement intelligence to gain real-time insights into the transportation services space.
With an eye on lowering transportation costs, SpendEdge’s procurement intelligence experts followed a comprehensive research methodology by compiling information across a wide variety of primary and secondary sources. Also, the procurement intelligence experts further carried out a qualitative and quantitative data analysis to understand the emerging trends and demand requirements in the transportation space.
SpendEdge’s procurement intelligence engagement helped the transportation services provider understand the logistics space in terms of the current and the forecasted market pricing, the key suppliers in the market, and the key economic factors affecting the transportation services provider space. Furthermore, procurement market intelligence helped the client reduce operational expenses; thereby, increasing the return on investment.
Fundamental questions answered in this procurement intelligence study include
This procurement intelligence study helped the transportation services provider to understand the supplier’s pricing strategy, the cost structure, and the price model prevalent in the logistics space. Furthermore, the procurement intelligence study also helped the client create a robust SWOT analysis to improve their overall business performance.