Over the years, the Engineering Servicesindustry has proliferated due to the increasing demand for mining, oil, and gas projects across the globe. Additionally, the rising commercial and industrial construction activity have led to rising demand for engineering services industry. However, the lack of government spending on large infrastructure projects and the high cost involved in the sourcing and procurement of raw materials has caused the engineering services industry players to seek out revenue in other industrial segments. Subsequently, to streamline their procurement processes across the supply chain, players in this industry have started adopted sourcing analysis solutions.
Furthermore, SpendEdge’s sourcing analysis solutions help engineering services industry players cut down the turnaround time for their procurement processes.
The Procurement Pain Point and Insights Offered
A global engineering services industry player was facing predicaments in establishing a flexible and quick resource deployment model to increase their efficiency of internal operations. The client also wanted to achieve efficiency and effectiveness across the supply chain through centralization and standardization of their sourcing and procurement processes.
To cater to the specific business requirements of the client and help the client streamline their sourcing and procurement processes, the sourcing analysts at SpendEdge tailored a comprehensive blended research methodology, which included primary and secondary research coupled with qualitative and quantitative data collection methods.
This sourcing analysis engagement helped the engineering services industry client devise a robust, standardized, and centralized procurement process across the supply chain. Additionally, the client was able to identify the low and best cost country locations across the globe. This helped them cut down on their maverick spends and achieve significant cost savings.
Fundamental questions answered in this sourcing analysis engagement include
The sourcing analysis engagement helped the engineering services industry client gain insights into robust supplier negotiation strategies to efficiently source and procure engineering services raw materials. This helped the client achieve superior cost savings.