The Procurement Pain Point A leading nutrition product manufacturing company with a global presence was finding it difficult to identify the right suppliers for procuring vitamin C, which is one of the key raw materials used in most nutritional products. The client was facing challenges with supplier cost-breakup, supplier positioning, and performance evaluation process for […]
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The Procurement Pain Point
A leading nutrition product manufacturing company with a global presence was finding it difficult to identify the right suppliers for procuring vitamin C, which is one of the key raw materials used in most nutritional products. The client was facing challenges with supplier cost-breakup, supplier positioning, and performance evaluation process for the suppliers. To get a better understanding of the market the client approached SpendEdge for our known extensive experience in providing supply market intelligence solutions by understanding aspects of the category in terms of supply market and best practices adopted by the industry.
Procurement Insights Offered and Outcome
To gain strategic insights into the supply market landscape, SpendEdge’s team of analysts followed a blended research methodology comprising of in-depth secondary and primary research. Our research experts engaged in detailed interviews with procurement managers and industry experts to track the latest developments and procurement trends in the market. The category experts worked directly under a project manager with significant experience in conducting specific procurement studies for this category.
Business Impact
This supply market intelligence study helped the client identify the right vitamin C suppliers across the globe with better long-term contractual terms. Furthermore, it helped the client gain deep insights on supply market landscape in terms of supplier cost-breakup, supplier positioning, and price negotiation strategies. This supply market intelligence also offered a better understanding of the procurement best practices and cost reduction levers. Furthermore, the research process at SpendEdge helped the nutrition product manufacturing company gain a holistic overview of the key parameters for selecting suppliers and analyzing the supplier cost structure, profit margins, and pricing benchmarks for a better supplier engagement model.
This supply market intelligence study offered the client insights into the supplier market landscape in terms of supplier cost breakup and suppliers’ performance evaluation criteria.
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