Market Intelligence Study on Best Practices for Integrated Facility Management

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Market Intelligence Study on Best Practices for Integrated Facility Management

The latest procurement market intelligence study by SpendEdge on the integrated facility management helps companies in the pharmaceutical and healthcare industry to understand the perceived risks in a risk mitigation strategies, IFM engagement, and offer various cost saving opportunities.

Growing demand for integrated facility management (IFM) services

IFM services are primarily adopted to increase the company’s productivity and improve the quality of workplace environment. The consolidation of IFM services helps organizations to minimize cost and eliminate supply chain complexities. These services are offered in contracts that have varied terms and provide cost saving solutions, improve energy management, and create intelligent business systems. The service providers are implementing latest technologies, such as smart-building cloud-based portfolio management solution and FM software to enhance operational efficiency and meet the growing demand in the market. SpendEdge’s procurement intelligence solutions help analyze the pricing models, cost structure, service level agreement (SLA) aspects, and the perceived risks in an integrated facility management engagement. The team provides insights on the assessment of pricing and supplier engagement models and offer gap assessment to identify the key areas of improvement.

The trend of offering value-added services to various end-users is a business model that various suppliers in the market are adopting. By offering value-added services such as addressing social concerns of staff, designing solutions that promote sustainability activities, and increasing shareholder value across regions, companies in the pharmaceutical and healthcare industries can attract a larger client base and maximize revenue growth. These additional services reduce the chances of enterprises procuring services from other suppliers, thus reducing the operational costs.

Analytical software solutions

Facilities management analytics offered by various suppliers are helping companies manage their operational workflow at a minuscule level and provide business insights to improve productivity. The use of data analytics enhances the planning capabilities, lowers operating expenses, and helps companies reduce risks. Organizations use services from suppliers to extract valuable information, detect patterns, and derive insights from huge sets of data to improve their decision-making processes.

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Mobile-based facility management

By leveraging smartphones and mobile devices, facility managers are increasing their communication across all locations seamlessly. Applications are specifically designed to provide managers visibility across all projects, manage work orders, and help to conduct site audits and safety reviews. The use of mobile-based applications helps managers keep pace with the changing workplace and streamline day-to-day activities and ensure maximum productivity.

What solutions SpendEdge offer to businesses

The team of procurement experts at SpendEdge provide a market intelligence study that offers a detailed overview of the current supply and demand market insights, category procurement strategies, and the best practices in supplier selection. Some of the solutions offered are as follows:

  • Offer detailed insights on risk compliance and regulatory environment and strategize based on the best benchmarking standards in the industry
  • Help the client understand the vendor capability snapshot, and the supplier reach analysis
  • Identify cost saving opportunities through assessment of procurement best practices and improvement areas in the specific category
  • Improve supplier selection and management methodologies, supplier negotiations, and successful implementation of procurement market intelligence strategy for the important spend areas, and capitalized on supplier performance through application of supplier relationship management
  • Provide overview of the pricing models, market dynamics, and demand-supply trends

Read our complete case study titled – Procurement Market Intelligence Helps a Pharmaceutical Company Understand the Best Practices for IFM Supplier Selection and Management

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