Diversification of the supplier base is the most prominent focus area for procurement teams globally in their pursuit of supply chain resiliency.
With the manufacturing workforce increasingly seeking greener pastures, organizations must rise to the occasion fast to restructure compensation structures and keep their head above water.
The highly dynamic regulatory landscape for industrial and manufacturing sectors necessitates organizations to keep their eyes peeled in order to ensure full compliance across their supply chains.
Equipment manufacturers must contend with a double-edged sword in the form of automation – it’s time to act fast, but not without deep procurement intelligence.
In an industry that’s arguably the world’s largest yet slowest growing, leveraging technology insights along with supplier intel is the key to profitability.
Amid growing need for dependable production processes, organizations are adopting cost modeling solutions in procurement planning.
Supplier evaluation and cost analysis are the defining components when it comes to highly effective and sustainable supply chain management.
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Challenge: Unplanned downtime arising out of frequent equipment failure was playing havoc with the metal sheet equipment manufacturer’s throughput. Maintenance costs were running high while margins and client experience were at increased risk. It was at this critical juncture that our experts entered the picture.
Solution: As a first step, our specialists helped the client identify suppliers of durable machinery with significant years of standing. Next, our team refocused the company’s procurement strategy around higher quality equipment and upfront discounted payments for the same. This apart, we recommended the adoption of proactive shop floor maintenance methods.
Result: By putting money on premium machinery and embracing predictive maintenance, our client has significantly reduced unscheduled downtime and the expenses required to keep shop floor assets in working order.
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.