Over the years, the pumps and compressors industry has witnessed astonishing growth due to the high demand for new generation energy efficient pumps and compressors, firmer oil prices and an enhanced outlook for oil exploration, robust semiconductor and electronics manufacturing industry, and favorable outlook for commercial aircraft production. However, according to the spend analysis professionals at SpendEdge, the increase in competition between firms has led to enhanced customer service levels while putting downward pressure on pricing.
As a result of such challenges, many pumps and compressors companies have started opting for spend analysis solutions to devise effective spend strategies.
Moreover, the spend analysis studies offered by SpendEdge, also help pumps and compressors companies improve the efficiency and effectiveness of critical business operations and processes.
The Procurement Pain Point and Insights Offered
A leading pumps and compressors manufacturer wanted to devise an effective spend strategy across their supply chain. Additionally, the client also wanted to achieve increased performance by improving the efficiency and effectiveness of their critical business processes and operations.
To cater to the specific category requirements of the pumps and compressors client, the spend analysis professionals at SpendEdge followed a scrupulous research methodology, which included primary and secondary research coupled with qualitative and quantitative data collection methodologies.
During the course this spend analysis study, the pumps and compressors client was able to devise an effective spend strategy across their supply chain. The client was also able to improve the efficiency and effectiveness of their critical business processes and operations. This helped them achieve increased performance across supply chains. Furthermore, they gained insights on spend patterns and devised a superior supplier negotiation strategy to serve their customers better.
Key questions answered in this spend analysis study include
This spend analysis solution helped the pumps and compressors firm to devise an effective spend strategy. Additionally, the client was able to identify and reduce inefficiencies in its procurement system. which helped them reduce maverick spends across the supply chain.