High vulnerability to even the slightest changes in market conditions puts a great deal of strain on procurement teams to ensure timely delivery of products and services.
With investors placing equal emphasis on cost optimization, sustainability, and product/service quality, technology-enabled cost modeling solutions could be the key differentiator.
Quality concerns, shortage of manpower, and poor supplier management top the list of major challenges faced by procurement teams today. They must be thoroughly prepared to act fast, which is where we step in!
As much as the growth of the oil and gas industry presents advantageous opportunities for oil field service providers, they have to contend with expeditiously increasing technology and equipment costs.
Countering price volatility and inevitable supply chain disruptions does not have to be as disconcerting as you think.
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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 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.