About the Client
The client is a renowned metal manufacturing company with manufacturing facilities, service centers, and metal mart locations across the United States. Headquartered in the US, the company is a leader in sheet metal fabrication and manufacturing.
Predicaments Faced
The client, a leading player in the manufacturing industry, specializing in the manufacture of metals and metal equipment was facing challenges in managing their sourcing and procurement processes, which resulted in higher expenses. As a result, they wanted to gain a complete understanding of the competitors, their products, suppliers, services, and spending patterns prevalent in the manufacturing industry to cut down on their direct and indirect spends. Additionally, they also wanted to gain actionable insights on the strategies to develop a superior contract negotiation strategy.
Solutions Delivered
The procurement experts at SpendEdge developed a supply market analysis template that laid the foundation for developing effective sourcing strategies. The developed supply market analysis template offered insights about the supplier’s strategies. It also offered much-needed data on the key drivers influencing the client’s sourcing strategies and the supply base. Subsequently, it helped the client achieve annual savings of $15 million. Moreover, the supply market analysis template offered:
- A broader understanding of the supply market
- Outline of the competitive forces in the market
- Future possibilities in the supply market
- Financial analysis of the suppliers
To know more about how our portfolio of solutions for supply market analysis can help you boost profits, get in touch today!