Over the past few years, there has been an increase in the consumption of specialty chemicals owing to the increasing urbanization in emerging countries. According to the analysts at SpendEdge, the construction industry in one of the major contributors to the specialty chemicals industry as these chemicals are used as asphalt additives, sealants and adhesives, protective coatings, and concrete admixtures. However, the high cost involved in procuring these specialty chemicals is one of the factors restricting the growth of this industry. As a result, players operating in the specialty chemicals industry space have started leveraging the use of supply chain analysis to increase their profitability across the supply chain.
Moreover, SpendEdge’s supply chain analysis solutions help specialty chemicals industry clients keep track of the supply chain activities in real-time, thereby creating a robust sourcing and procurement process.
The Procurement Pain Point and Insights Offered
A global client in the specialty chemicals industry space was facing predicaments in assessing their supply chain capabilities and compare it to that of competitors in the industry. The client also wanted to identify their major areas of spend across office locations to reduce the overall costs.
To cater to the specific business requirements of the client, SpendEdge’s supply chain analysis specialists tailored a blended research methodology, which included primary and secondary research coupled with qualitative and quantitative data collection procedures.
This supply chain analysis engagement helped the specialty chemicals client identify their major areas of spend across office locations, consequently helping them gain a competitive edge over peers in the industry and significantly reducing their overall costs across the supply chain. Additionally, the client assessed their supply chain capabilities and compared it to that of their competitors to serve their customers better.
Fundamental questions answered in this supply chain analysis engagement include
The supply chain analysis engagement helped the specialty chemicals client reduce overall costs and increase profitability across the supply chain. This helped them gain a competitive edge over peers operating in the industry.