Digitization, increasing automation, and new business models have revolutionized many industries, and the automotive sector is hardly an exception. However, this industry is facing major challenges in terms of vehicle customization, which consequently increases the cost of integrating new technologies to meet the requirements of end-users. Moreover, regulatory bodies are raising the standard on safety, fuel efficiency, and emissions, which also demands the need to adopt technological advancements. With an in-depth analysis of the present and future requirements and the supplier landscape and forecasting price changes in the short and long term, SpendEdge's procurement market intelligence solutions help category managers make informed procurement decisions and achieve improved cost savings.
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With technological advancements such as the introduction of connected cars to better fuel efficiency and improved powertrains and the changing consumer expectations, automotive manufacturers and suppliers are under constant pressure to innovate their offerings in a limited span of time. However, identifying appropriate supply markets to procure the right products and services at the right price levels comes as the major challenge to procurement managers. Aimed at helping clients make improved sourcing and procurement decisions, SpendEdge's procurement market intelligence solutions offer customized sourcing solutions to identify efficient suppliers across various geographies.
To achieve improved cost savings, automotive component manufacturers have the need to procure the right automotive parts at the right cost and also ensure their compliance with the industry and government standards. By realizing the complexities associated with procuring raw materials, our procurement specialists make a detailed analysis of the clients’ requirements and offer procurement market intelligence solutions that will help sourcing professionals identify latent saving opportunities and effectively manage sourcing and procurement challenges across various business units.
In addition to the intensifying competition, the volatile prices of raw materials and the adoption of sustainable green practices pose major challenges to procurement managers in the tire industry towards achieving improved cost savings. Employing experienced sourcing specialists with expertise across various categories, SpendEdge's procurement market intelligence solutions helps businesses identify their cost elements, forecast changes in raw material prices in the short and long-term, and identify suppliers for faster sourcing.