Food preservatives prevent premature decomposition of food due to the growth of microorganisms and slow down changes in color, texture, and taste that eventually make the food unsafe and inedible. They are especially important in the processing of packaged food and beverage products as they have properties that help preserve essence, texture, edibility, and nutritive value of food. While natural food preservatives are traditional and commonly used in individual households, chemical preservation entails adding a set of chemical compounds to the food products.
The Procurement Pain Point
A leading food and beverage company was finding difficulties in procuring food preservatives and identifying and shortlisting the suppliers. The client was seeking a solution in terms of supplier relationship management and cost components for better contractual terms. The food and beverage company wanted a holistic overview of the food preservatives market to understand the decisive factors on shortlisting the suppliers.
Procurement Insights Offered and the Outcome
To effectively execute the research process, SpendEdge deployed a team of analysts to carry out an in-depth primary and secondary research backed by robust qualitative and quantitative data collection methods. SpendEdge’s category experts referred to a broad range of information sources like industry databases, industry journals and reports, white papers, and company presentations to derive important insights into the market. Moreover, we engaged in detailed discussions with the industry experts, procurement managers, client consultants, and business executives. The research process helped our analysts with a better understanding of the supply landscape of the food preservatives market in terms of cost components and service level agreements. This study also helped our client with a strong and robust supplier relationship model and pricing models.
The food and beverage company was able to identify the major suppliers in the food preservatives market and negotiate contractual terms. This supply market intelligence study helped the client with a better and clear understanding of the supplier relationship management and crucial cost components. Moreover, this study offered the client a holistic overview of the market explaining various decisive factors price negotiation strategies, service level agreements, and supplier’s performance criteria.
This supply market intelligence study offered the client insights into the supplier relationship models and crucial cost components.