LONDON: SpendEdge, a leading provider of procurement market intelligence solutions, has announced the completion of their latest articles on the trends impacting procurement and supply chain management companies and strategies to manage them. Challenges Facing...
Automotive and Tire
SpendEdge’s sourcing and procurement analytics put you in the driver’s seat. Gain a competitive edge on procurement in automotive industry through our intelligent sourcing and procurement platform.
Automotive and Tire Industry Overview
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 increases the cost of integrating new technologies to meet the requirements of end-users. Moreover, regulatory bodies are raising standards on safety, fuel efficiency, and emissions, which also requires manufacturers to adopt technological advancements for better procurement in automotive industry. Providing an in-depth analysis of the supplier landscape and forecasting price changes in the short and long term, SpendEdge’s procurement solutions help category managers make informed procurement decisions and achieve improved cost savings.
Technological advancements such as connected cars, better fuel efficiency, and improved powertrains, along with changing consumer expectations, are putting automotive manufacturers and suppliers under constant pressure to innovate their offerings within a limited timespan. However, identifying appropriate supply markets for efficient procurement in automotive industry at the right price levels is a key challenge for category managers. Aimed at helping clients make improved sourcing and procurement decisions, SpendEdge’s sourcing and procurement solutions offer customized services to identify efficient suppliers across different regions in the world.
To achieve improved cost savings, automotive component manufacturers need to procure the right automotive parts at the right cost while ensuring their compliance with industry and government standards. Taking into account the complexities associated with procuring raw materials, our procurement specialists make a detailed analysis of the client’s requirements and offer procurement market intelligence solutions that will help sourcing professionals identify latent saving opportunities and effectively manage sourcing and procurement challenges across multiple 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 when it comes to achieving improved cost savings. Employing experienced sourcing specialists with expertise across various categories, SpendEdge’s procurement market intelligence solutions help businesses identify their cost elements, forecast changes in raw material prices in the short- and long-term, and identify suppliers for faster sourcing.
Direct and Indirect Spend Categories
Direct Materials and Equipment
- Metals and alloys
- Fabricated structures
- Sheet metal
- Cooling system
- Machined parts
- Reactors and pressure vessels
- Heat exchangers, boilers, and cooling towers
- HVAC systems
- Hydraulic and mechanical pitch systems
- Electronic and electrical equipment
Direct Materials and
- Mechanical equipment and components
- Turbines, pumps, and compressors
- Motors and drives
- Electronic components
- Electrical components
- Material handling equipment
- Capital machinery and equipment
- Process automation and control equipment
- Construction and building materials
- Heat exchangers, boilers, and cooling towers
- Waste management
- Packaging materials
- Facility management services
- Facility equipment and supplies
- Corporate services
- Professional services
- Travel and entertainment
- Telecom and networking
- IT services
- Office supplies and equipment
- Computers and peripherals
- Logistics and transportation
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Case Study: Identifying the Best Cost Sourcing Location for an Automobile Manufacturer
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Getting Down To Business
SpendEdge’s solutions for procurement in automotive industry will put you in the driver’s seat. Achieve innovation and a competitive edge through intelligent supplier sourcing and improved cost savings.