The probability of disruptions severely impacting end users is astronomical in this sector and can lead to dire financial and reputational risks
Organizations are under immense pressure to embrace sustainability initiatives, including green energy, but there are intricacies involved. Smart procurement intelligence solutions can help save your day.
With the growing focus on minimizing/eliminating fossil fuel use and upgrading utility infrastructure, most critical functions of organizations will fall under heavy scrutiny.
With the growing need to modernize these systems and cope with regulation, organizations are keen to adopt more effective strategies.
Adopting renewable energy sources offers plenty of growth opportunities, but there are procurement challenges as well.
In an industry that is subject to high levels of volatility across most critical functions, expert supplier and procurement intelligence solutions are a great first step toward achieving profitable and desirable business outcomes.
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Challenge: As Covid-19 loosened its icy grip on the populace, supply chain activities began to slowly return to pre-pandemic levels. Against the backdrop of changing energy procurement, our client wanted to precisely estimate price trends for its business segments based on a range of factors.
Solution: Our experts meticulously went over every relevant inch of the client’s supply network with the objective of pinning down segments that were in dire need of improved visibility and route optimization. With assistance from our experts, the client was able to sketch alternative supply sources for critical metals to bridge the gap between what the client’s procurement organization needed and what it was currently getting.
Result: Informed by our in-depth spend market metrics, the client has floated an RFx for critical metals with the shortlisted alternative suppliers. Furthermore, armed with pricing and inflation data all the way down to downstream sub-components, the client’s category managers have all the firepower they need to move the needle at the negotiation table.
Read Moreto see the more on spendedge insightsGathering data on your supplier’s capability to deliver high-quality products is just not enough. More open communication will ensure suppliers not only deliver with quality but also ahead of schedule.
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Mismatches between your needs and what your supplier delivers could weaken business performance. By collaborating intensely with suppliers, you can ensure your penchant for KPIs grows on them as well.