SpendEdge’s spend analysis study on the automotive industry for a leading automaker helped identify key suppliers, improve process efficiencies, analyze spend patterns, and reduce procurement costs in APAC.
Procurement in automotive industry
The automotive industry is constantly evolving due to increasing need for automation, digitization, and improved business models. One of the world’s most prominent sectors, the automotive industry, includes companies that are involved in designing as well as selling the motor vehicles. The largest markets for the automotive industry are the European and North American regions; however, emerging markets such as the APAC have recorded phenomenal increase in automotive sales. The emerging markets offer a plethora of opportunities to the manufacturers to succeed and expand their market share. The automotive industry is expected to be swamped by technological trends such as connected cars, autonomous or self-driving vehicles, and electricity powered automobiles. SpendEdge helped a leading automaker to reduce the current spend, identify the key suppliers and vendors, thereby, devise contract negotiation and management strategies with their existing and potential suppliers. Spend analysis and benchmarking enables businesses to improve process efficiencies, drive cost savings opportunities, thereby positively impacting the organizations bottom line.
Connected cars in the automotive industry
The concept of connected cars has recently gained momentum in the automotive industry and holds the potential of disrupting the traditional channels for transportation. A connected car is an automotive vehicle that leverages mobile technology and the internet to operate. The motor vehicle is web enabled and connected to a smartphone, mobile device, watch, or a desktop and has the potential to transform the driver-vehicle relationship.
Solutions SpendEdge offers to businesses
SpendEdge’s spend analysis and benchmarking study for a leading automaker provides insights into the spend patterns, supplier identification, and contract negotiation strategies. The solutions offered include:
- Identifying key suppliers in the market and analyzing their spend pattern
- Gaining insights of the global supply capabilities of available suppliers in the APAC region
- Obtaining request for quotation (RFQ) package from prominent suppliers that includes volumes, projections, and partnerships
- Developing supplier and contract negotiation strategies with existing vendors and suppliers
Read our complete case study on Spend Analysis Study Helps a Leading Automaker Reduce Procurement Costs in APAC
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