In this dynamic era of constant innovations, it is crucial for companies operating in the steel industry to understand the dynamics of the industry and refine their portfolios and business models to meet the demands of their end-users. Moreover, the increasing demand for state-of-the-art products and service among the customers have forced steel industry players to leverage the use of category management solutions. Category management solutions help clients administer innovations, mitigate supplier risks, and enhance their supplier performance across the supply chain.
With years of experience in offering a wide range of category solutions, SpendEdge assists firms operating in the steel industry to deliver operational excellence, category sales growth, and innovative new merchandising programs.
The Procurement Pain Point and Insights Offered
A leading steel industry client was facing predicaments in delivering operational excellence, driving category sales growth and innovating new merchandising programs. Additionally, the client’s category was under severe pressure from other categories within the steel industry space seeking expansion in space and assortment.
To cater to the predicaments faced by the client, the category management specialists at SpendEdge personalized a comprehensive research methodology. This research methodology included primary and secondary research coupled with qualitative and quantitative data collection procedures.
During the course of this category management engagement, the steel industry client developed a robust go-to-market platform and implemented for retail channels and leading retailers. This helped them gain insights that identified unmet consumer needs within the category.
Fundamental questions answered in this category management study include
The initiatives recommended by SpendEdge helped the steel industry client devise innovative concepts for operational excellence and merchandising programs and subsequently achieve sales growth across business units.