Globally, the manufacturing industry is witnessing the entry of numerous new market players, and key stakeholders are looking for effective ways to curtail additional expenses related to supply chain activities to boost their profit margins. Also, due to globalization, outsourcing, and supply-base rationalization, leading businesses in the waste disposal equipment space have started looking for promising solutions to identify and mitigate supply chain risks. To understand and devise means to tackle supply chain challenges in the waste disposal equipment space, renowned businesses in the manufacturing industry are advocating the need for a robust risk management solution. Risk management helps businesses gain better visibility into the downstream and upstream operations and allows suppliers to curtail logistics costs.
To improve profitability and enhance the overall product quality, renowned businesses in the waste disposal equipment space are approaching companies like SpendEdge. SpendEdge’s risk management solution assists businesses to foresee potential issues in terms of cost volatility and material shortages and devise effective strategies to automate their supply chain process. Moreover, the risk management solution also assists companies to collect, analyze, and manage supplier information and mitigate supply chain disruptions.
The Procurement Pain Points and Insights Offered
A renowned waste disposal equipment manufacturer was facing certain predicaments understanding their supply chain structure and identifying flaws in their supply chain. The client wanted to gain better visibility into their supply chain process and devise potential ways to mitigate any disruptions in the space. With the help of SpendEdge’s risk management solution, the client wanted to identify the key performance indicators to save logistics costs and improve product quality.
With an aim to gain better visibility into the waste disposal equipment space, the risk management experts at SpendEdge tailored an integrated approach comprising of quantitative and qualitative data collection methodologies. Also, the experts further collated information across a wide array of proprietary sources to mitigate risks and streamline their supply chain activities.
With the help of the risk management solution offered by SpendEdge, the waste disposal equipment manufacturer was able to develop a risk mitigation strategy to meet the procurement standards of the company. The risk management solution also assisted the client in fulfilling the regulatory requirements and improving customer satisfaction.
Fundamental questions answered in this supply chain risk assessment include
The Business Outcome
The risk management solution offered by SpendEdge helped the client gain real-time insights on the production and delivery capabilities. The engagement also assisted the client to improve operational objectives while meeting the customers’ requirements.