Industrial and Manufacturing
With the economy as fragile as it’s ever been in a long time and the rising volatility in commodity costs, procurement teams in the industrial and manufacturing sectors find themselves racing against time to accurately determine sourcing spend and build more resilient supply chains.
Contact usChallenges faced by the procurement team
Striking a balance between cost and risk
Diversification of the supplier base is the most prominent focus area for procurement teams globally in the pursuit of supply chain resiliency.
- Carefully weigh the risks and benefits associated with single sourcing and multi-sourcing strategies to keep supply chain disruptions at bay
- Determine where and when to opt for global sourcing and local sourcing through detailed insights and analyses to cut down manufacturing idle times
- Identify and engage with suppliers that are well-positioned to deal with supply disruptions and market volatility; maximize the value of supplier engagements by identifying cost-saving opportunities
Uphill battle against labor shortages
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.
- Leverage our insights to optimize manufacturing processes with the right mix of skilled manpower and technology expertise
- Evaluate the skill gaps prevalent in the industry to devise appropriate strategies and ensure that employees are on the right learning curve
- Carefully study the latest trends and patterns related to employee needs in terms of both career growth and work-life balance to create a better workplace environment and lower attrition
Conducting thorough supplier due diligence to mitigate regulatory risk
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.
- Obtain detailed insights into the regulatory landscapes for all the regions in which you possess manufacturing operations
- Our experts will help you analyze regulatory hurdles present along the supply chain so that you can quickly intervene and devise corrective actions for high-risk suppliers
- Sharpen your focus on ESG commitments with the help of our know-how related to the latest sustainability trends shaping the industrial sector
Industries
Industrial Equipment
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.
Construction and Building
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.
Automation and Controls
Growing need for dependable and cost-effective production processes has made it imperative for organizations to adopt cost modeling solutions for procurement planning.
Talk to one of Our Experts
Supplier evaluation and cost analysis could be the defining components in the quest for sound supply chain management.
Talk to Our ExpertsFeatured Case Study
How SpendEdge Helped CPG Giant Streamline Contract Manufacturer Selection Process
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.
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Make Informed Procurement Decisions Through SE Insights
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.
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