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procurement and supply chain management

Procurement and Supply Chain Management: Challenges, Strategies, and Trends Impacting the Process

LONDON: SpendEdge, a leading provider of procurement market intelligence solutions, has announced the completion of their latest articles on the trends impacting procurement and supply chain management companies and strategies to manage them. 

Challenges Facing Procurement and Supply Chain Management

In the current competitive scenario, its customers who tell suppliers how and when they want their inventory to be delivered. This results in inefficiencies, excess costs, and inventories for companies. This article will help you explore the challenges faced by companies while navigating global markets. It will provide key insights into factors such as compliance, rapidly evolving markets, globalization, and supplier management impacting the efficiency of procurement and supply chain management process.

“Improving the procurement supply chain management process is crucial for companies to optimize the processes of acquiring inputs from suppliers, converting them into finished products, delivering those outputs to customers,” says Parikshit Ghosal, Vice-President at SpendEdge.

Are you facing similar challenges and looking for solutions to navigate global markets successfully? Request a free proposal to access our procurement and supply chain management solutions.

Strategies to Create an Agile Procurement and Supply Chain Management Framework

Responding to changes is the key to gain success in today’s business environment. Companies not just need to react faster than competitors, but also need to prepare better and execute faster. Procurement and supply chain management is a complex process and requires companies to devise strategies that can manage a supply base and meet consumers’ needs. The article will help you gain knowledge about the key procurement supply chain management steps and framework. The article will show how companies can ramp up products quickly and launch ahead of their competitors by analyzing different market conditions.

Get ahead of your competitors by devising effective procurement and supply chain management strategies. Schedule a free demo to know more about our services. 

Trends Shaping Procurement and Supply Chain Management

Companies strive hard to keep up with increasing customer expectations and ensure their presence in the market. New technologies such as AI, machine learning and blockchain disrupt the procurement and supply chain management process, thereby impacting operational efficiency. This article will help you understand how such technologies can be applied to create more value for customers. Also, it will provide key insights into inventory positioning, dropshipping, reverse logistics, and gender diversity at the portfolio level in North America.

Want more insights on trends shaping procurement and supply chain management in different supply markets? Reach out to our experts now!

strategic sourcing and category management

SpendEdge Discloses the Key Strategic Sourcing and Category Management Strategies to Maximize Value

LONDON: SpendEdge, a leading provider of procurement market intelligence solutions, has announced the completion of their latest success stories on the relevance of strategic sourcing and category management for different categories. 

Achieving Over $80 Million for a Food Manufacturer

The introduction of big retailers in the food industry is compelling companies to revamp their business models to maintain competitive differentiation. The client, a North American food company was looking to develop product supply strategies to cut costs effectively. They required an effective strategic sourcing and category management strategy to break from current paradigms.

SpendEdge’s comprehensive insights coupled with activity-based costing facilitated the client to improve the strategic sourcing and category management process and defend category sales. As a result, the client achieved over $80 million in revenues.

“Leveraging strategic sourcing and category management solution is crucial for businesses to align sourcing goals with organizational strategies while leveraging targeted expenditures and maximizing value,” says Srinivas R, Procurement Manager at SpendEdge.

Want to effectively drive cost reductions and redesign product supply strategies? Request a free proposal to access our strategic sourcing and category management solutions.

Calculating Price Awareness Score for a CPG Company in Europe 

Stagnating mass market and fragmented niches of growth were impacting the market dominance of a CPG company in Europe. Optimizing pricing and improving profitability became an arduous task for them. The client, then collaborated with SpendEdge to identify key value categories (KVCs) and key value items (KVIs) to increase sales.

Our experts analyzed the frequency of purchase and share of category sales for items in the KVCs. They calculated price awareness score and identified KVIs that accounted for 10%-15% of sales in the category. With improved strategic sourcing and category management, the client increased its profit margins by 11%.

Get ahead of your competitors with data-driven strategic sourcing and category management strategies. Schedule a free demo to know more about our services. 

Realizing an Incremental Cost Reduction of 2-3 % for a Medical Devices Supplier

Integrating innovations and streamlining operations are a few of the key strategies adopted by companies to survive in the medical devices market. A fast-growing company in the US wanted to identify the typical levers to augment the incremental value of the organization. They wanted to better understand the medical consumables category to boost growth prospects.

With our strategic sourcing and category management solutions, the client analyzed alternative mechanisms to verify current pricing against alternative suppliers and implemented an 8 step category management process. This facilitated the client to achieve an incremental cost reduction of 2-3 %.

You’re just a step away! Reach out to our experts for customized strategic sourcing and category management and achieve significant savings. 

importance of cost benefit analysis

SpendEdge Analyzes the Importance of Cost Benefit Analysis in Decision Making

LONDON: SpendEdge, a leading provider of procurement market intelligence solutions, has announced the completion of their latest articles on the importance of cost benefit analysis in decision making for businesses. 

Importance of Cost Benefit Analysis in Decision Making

Often companies find themselves in a situation where they have to choose one project against another. They need to examine all potential costs and revenues that can be generated from a project. Performing cost benefit analysis helps businesses to simplify such complex business decisions and measure their benefits. It provides a basis for rational comparison and enables companies to select the best alternative. This article will help you understand the importance of cost benefit analysis in ranking projects according to the order of their merit and estimating the net benefit of a project.

“Performing cost benefit analysis is crucial for companies to predict future revenues accurately and measure the intangible benefits associated with a project,” says Srinivas R, Procurement Manager at SpendEdge.

Are you looking for insights to rationally compare different projects and obtain the best value for money? Request a free proposal to understand the importance of cost benefit analysis and leverage our customized solutions.

Steps to Perform Cost Benefit Analysis

Despite realizing the importance of cost benefit analysis, companies fail to gain an unclouded view of the impact of a decision. This article will help companies gain insights into the steps involved in devising a cost benefit analysis template. It will provide key insights into the role of establishing a framework for analysis, analyzing costs, determining deadlines for expected cost benefits, and calculating net present values for ascertaining the feasibility of projects.

Stay ahead of the curve by executing a comprehensive cost benefit analysis and analyzing realistic assessment of risks. Schedule a free demo to know more about importance of cost benefit analysis solutions. 

Cost Benefit Analysis Best Practices

Companies of today need to know the best approach to evaluate the quantitative and monetary impact of the project. They require insights into the pricing strategies and their effect on the supply chain to build strong supplier relationships and drive profitability. This article will help companies to navigate the cost benefit analysis process, analyzing the costs impacting the business in the short and long-term. It will provide a systematic approach to effectively conduct a cost benefit analysis.

Want more insights into the approaches used by top companies in improving the cost benefit analysis process? Reach out to our experts to gain detailed insights into the importance of cost benefit analysis.

Facilities Management companies

Top Facilities Management Companies | Facilities Management Services Procurement Research Report

London: SpendEdge, a leading procurement market intelligence company, has announced the launch of its Global Facilities Management Services Category – Procurement Market Intelligence Report.

Facilities management services play an indispensable role in ensuring the seamless functioning of an organization starting right from managing storage spaces to physical office areas. The top facilities management companies are being observed to integrate web-based technological platforms in their services that are providing a considerable impetus to the category feasibility. Buyers, as well as service providers, are developing a penchant for integrated facilities management services that are further driving the category spend momentum. Facilities management services command a significant share in an organization’s annual budget which typically overrides their allocated budget because of multiple organizational factors. This is emerging as one of the most recurring procurement challenges faced by buyers related to the facilities management services category. With a view of such potential challenges, this facilities management services procurement research report has made suitable recommendations that have aided some of the leading brands in achieving considerable cost-savings while procuring this category.

According to this report, strategic selection of the facilities management companies and a subsequent supplier base consolidation have been determined as some of the key strategies to optimize the procurement spend while maximizing the efficiency of the services. On a broader note, buyers are recommended to partner with service providers that have a portfolio of a wide range of services. This will exempt buyers from incurring excessive procurement spend on separate service providers while also minimizing the multiple-contract related complexities. Viability of facilities management companies must also be evaluated based on their data management and analytical capabilities that will play fundamental roles in determining the demand and the subsequent procurement of a wide range of services.

Partnering with such service providers will facilitate better maintenance planning, budget forecasting, and long-term category planning activities,” says SpendEdge procurement expert Tridib Bora. (more…)

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Initial Challenges and Benefits of Partnering with an Ideal Managed Service Provider to Add Value to Your Business

LONDON: SpendEdge, a global procurement market intelligence firm, has announced the release of their report portfolio on global managed services industry and how these reports can assist in selecting the most appropriate managed service provider who can add value to your business.

Instances of financial bankruptcies and major data breaches are compelling global security watchdogs to tighten their grips on organizations. Regular strides being made in the field of technology are creating immense pressure on organizations who are finding it a cumbersome task to scale up their processes to meet the rising requirements. Such phenomena are driving the focus on core areas that bring value to the business. This, on the other hand, is creating tremendous opportunities for the managed services companies who are experiencing an incremental spend from reputed organizations.

Challenges faced while procuring from managed service provider?

Typically, organizations hand over a critical part of the business infrastructure to the managed service provider who strives to boost the operational efficiency. However, in today’s market, procuring managed services can be a cumbersome task. Considering the criticality of the business handed over, the managed service provider must possess the requisite experience to cater to the organizational requirements. While most of the leading organizations are migrating their business infrastructure into the cloud, a majority of the top managed service providers are still not well-versed with this technological trend.

The presence of an exhaustive pool of managed services companies makes it more difficult to select the right managed service provider without proper insights. Often, scopes of services offered by the managed services companies fail to scale up to the buyer’s organizational goal. This invariably results in a massive procurement failure. (more…)

photography work space on top view

Manufacturing Industry: Manufacturing Cost Strategies, Procurement Challenge, Supply Market Trends to Watch Out for in 2019

LONDON: SpendEdge, a global procurement market intelligence firm, has announced the release of their report portfolio on the global manufacturing industry.

While technology is playing a big role in transforming production processes in the global manufacturing industry, a majority of the key industry players are struggling to identify optimal manufacturing cost strategies to deploy the newest innovations in their business infrastructure. An industrial manufacturing project typically entails an indefinite procurement spend, which pose as a major procurement challenge for the stakeholders to morph their current cost strategies to make space for additional investments. Established companies who boast a full gamut of industrial operations are still managing to eke out profits from their customer base.

However, SpendEdge argues that the marketplace is one unforgiving forum where the ability to identify and adapt to new trends defines the success of firms. The Industry 4.0 revolution, which asserts the necessity of adopting automation in the manufacturing process, is mounting additional pressure on category managers who are struggling to revamp their old-school business model to usher in the breakthrough capabilities without loosening their purse strings. A majority of such category managers are finding answers to such procurement challenge in the market intelligence reports developed by the procurement experts at SpendEdge. These reports help in the creation of a tangible procurement strategy along with optimal manufacturing cost strategies that befit the changing trends of this market space. By assessing the potential risks affecting the market, these sourcing and procurement reports recommend a set of procurement best practices that are meant to foster stability while practicing business in this market. (more…)

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Components and Spare Market Industry Research Report Portfolio

LONDON: SpendEdge, a global procurement market intelligence firm, has announced the release of their report portfolio on global components and spare market.

Considered indispensable for a range of end-user industries, the components and spare market accommodates the global consumer’s penchant towards newer, better, and cost-effective spare parts. According to SpendEdge’s procurement report on the components and spare market, innovative strides being made on this field is further contributing to the spiraling growth of the components and spare market.

It is the norm of the industry that more the growth, more are the complexities involved in venturing into the market. On that note, the components and spare market witnesses several complexities that are the result of business outlook changes and other socio-economic factors. Such complexities are inhibiting investors from accruing the returns that they expect while they decide on capitalizing on this thriving component and spare market. However, we at SpendEdge, believe that no matter what the size and severity of such complexities, it should not limit one’s business dreams. We believe that with the right procurement insights, the challenges can be converted and leveraged as the drivers of success. (more…)

Global-Meetings-and-Events-Market_CMST31

Rise in Labor Cost Driving the Demand for Automation and Instrumentation Solutions

SpendEdge Procurement Market Intelligence InfographicsLondon, Apr 26, 2018: Growing demand for incorporating automation and instrumentation systems and solutions within industries such as oil and gas, metals and mining, pharmaceutical, and paper and pulp to enhance productivity, reduce production cost, and minimize labor cost is driving the demand in this market. Additionally, lack of availability of skilled labor and rise in labor cost encourage buyers to opt for automation and instrumentation solutions.

SpendEdge’s latest procurement research report on the global automation and instrumentation market offers an in-depth assessment of the crucial factors influencing the supply market, strategic procurement and sourcing decisions, pricing models, and procurement best practices. The report, a part of the information technology, also offers detailed insights into the supply chain management, key market developments, and demand-supply shifts to help sourcing and procurement experts make smart procurement decisions.

“Automation and instrumentation enable businesses to improve productivity by reducing errors and enhancing quality and speed of activities. As per observations, it is noted that automation of activities can increase productivity growth globally from approximately 0.6%-0.8% to 1.3%-1.5% annually.” – Bhuvaneshwari Udayakumar, information technology expert at SpendEdge.

Business process re-engineering enables buyers to estimate the cost of restructuring and the ability of the existing infrastructure to integrate with automated systems and software. However, buyers find it difficult to understand organization’s capabilities in terms of analyzing organization’s structure, culture, and existing IT resources. Furthermore, issues in comprehending the organizational culture may lead to disruption in routine work due to the implementation of automation and instrumentation.

Need more insights on this report?

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This procurement report on the glass automation and instrumentation market offers insights on:

  • Supply markets, growth drivers, trends, and imminent restraints
  • Key suppliers and assessment of their capabilities
  • Procurement best practices
  • Negotiation strategies and cost-saving opportunities
  • Pricing models and category innovations
  • For a comprehensive, detailed list, view our full report

Get unlimited access to all our reports. Get access to our reports to gain insights, platform ready-to-use procurement research reports, latest supplier news, innovation landscape, markets insights, supplier tracking, and much more at the click of a button. Request a free demo now


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cyber security

Growth of the Frozen Food Industry Driving the Demand for Myristic Acid

SpendEdge Procurement Market Intelligence I- Myristic AcidLondon, Apr 11, 2018: There is an increase in the overall global spending on processed foods, personal care, and cosmetic products due to economic growth. As these are the major end-users of myristic acid, and it has led to the growth of the global myristic acid market. Additionally, the increase in demand for natural fatty acids in food products from end-consumers ensures that they focus on production of food, which contains the necessary amount of natural fatty acid, such as myristic acid.

SpendEdge’s latest procurement research report on the global myristic acid market offers an in-depth assessment of the crucial factors influencing the supply market, strategic procurement and sourcing decisions, pricing models, and procurement best practices. The report, a part of the chemicals, also offers detailed insights into the supply chain management, key market developments, and demand-supply shifts to help sourcing and procurement experts make smart procurement decisions.

“Myristic acid acts as a preservative within the frozen food industry due to its food quality retention properties. The frozen food industry is expected to grow at a CAGR of 3.6% by 2019, and thereby increase the demand for myristic acid” – A. Kowshik, chemicals expert at SpendEdge.

The raw materials market for myristic acid experiences seasonal volatility due to natural calamities such as hurricanes, tsunamis, floods, or drought. Also, the production of nutmeg, coconut oil, palm oil, and palm kernel oil, which are major raw materials of myristic acid require a tropical climate. Therefore, such seasonal weather changes affect tree plantation and interrupt the supply of myristic acid in adequate amounts causing a major procurement problem.

Need more insights on this report?

Request Free SampleThis procurement report on the glass myristic acid market offers insights on:

  • Supply markets, growth drivers, trends, and imminent restraints
  • Key suppliers and assessment of their capabilities
  • Procurement best practices
  • Negotiation strategies and cost-saving opportunities
  • Pricing models and category innovations
  • For a comprehensive, detailed list, view our full report

Get unlimited access to all our reports. Get access to our reports to gain insights, platform ready-to-use procurement research reports, latest supplier news, innovation landscape, markets insights, supplier tracking, and much more at the click of a button. Request a free demo now


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IR17

Increasing Oil and Gas Extraction Activities Driving the Demand for Oilfield Services

SpendEdge Procurement Market Intelligence InfographicsLondon, Apr 27, 2018: A slow recovery in oil and gas prices, due to an easing of the supply glut in the market, is motivating operators to revisit shelved E&P projects, leading to growth in OFS demand. The supply glut was the result of price wars among the top oil and gas producing countries, which resulted in the supply of oil and gas exceeding the demand. As a result, the demand for oilfield services was on the rise.

SpendEdge’s latest procurement research report on the global oilfield services market offers an in-depth assessment of the crucial factors influencing the supply market, strategic procurement and sourcing decisions, pricing models, and procurement best practices. The report, a part of the chemicals, also offers detailed insights into the supply chain management, key market developments, and demand-supply shifts to help sourcing and procurement experts make smart procurement decisions.

“Industrial development, rising global population, and economic growth worldwide drive the need for energy. Oil and gas are the major raw materials for energy-generating companies worldwide. Nearly half of the global energy generated in 2016 was produced using oil and gas which resulted in demand for oilfield services” – Anil Seth, chemicals expert at SpendEdge.

An assessment of compliance of suppliers with labor regulations is essential to buyers. This is critical, as labor issues are prevalent in countries such as child labor and forced labor in countries such as China, Russia, as well as African countries, which have active oil and gas industries, and hence, require OFS. These regions have weak enforcement of regulations, which can result in suppliers engaging in noncompliant activities without the knowledge of authorities.

Need more insights on this report?

Request Free Sample

This procurement report on the glass oilfield services market offers insights on:

  • Supply markets, growth drivers, trends, and imminent restraints
  • Key suppliers and assessment of their capabilities
  • Procurement best practices
  • Negotiation strategies and cost-saving opportunities
  • Pricing models and category innovations
  • For a comprehensive, detailed list, view our full report

Get unlimited access to all our reports. Get access to our reports to gain insights, platform ready-to-use procurement research reports, latest supplier news, innovation landscape, markets insights, supplier tracking, and much more at the click of a button. Request a free demo now


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