Diversification of the supplier base is the most prominent focus area for procurement teams globally in the 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 considered to be arguably the world’s largest yet slowest growing, leveraging technology insights along with supplier intel is key to achieving efficiency and profitability.
Growing need for dependable and cost-effective production processes has made it imperative for organizations to adopt cost modeling solutions for procurement planning.
Supplier evaluation and cost analysis could be the defining components in the quest for sound supply chain management.Talk to Our Experts
Challenge: Faced with intense competition and the need to improve profit margins, our client turned to SpendEdge for assistance in overcoming their business challenges. One of the main strategies involved migrating cost-intensive operations to low-cost destinations.
Solution: Our team at SpendEdge assisted the client in streamlining their contract manufacturer selection process. Leveraging our expertise and market research methodology, we identified key contract manufacturers for the client’s ready-to-eat product line.
Result: The client successfully addressed their business challenges and achieved improved profit margins and reduced operating costs. All the while, also enhancing product quality and expanding manufacturing capabilities.Read Moreto see the more on spendedge insights
Gathering 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.
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.