Benchmarking

Developing a competitive edge and winning strategy through supplier benchmarking, price benchmarking and procurement best practice benchmarking.  

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Overview

Price and service comparison activities are instrumental to building longlasting relationships with your suppliers and positioning your team for fruitful negotiations with current or prospective suppliers. For companies looking to win in the marketplace, it is no longer enough to manage costs and improve services. Oftentimes for these companies, the value of benchmarking with peers and competitors goes beyond cutting costs and becomes about developing a competitive edge through a winning strategy, process improvements, and innovations. In order to achieve that, analyzing and benchmarking peers becomes a key procurement activity. However, many companies are challenged for access to resources to produce meaningful insights and intelligence that will inform their winning strategy. They are equally challenged finding and validating supplier information such as volatile prices. 

This is where SpendEdge’s benchmarking services come into play. We have invested immense amounts of resources into building our primary and secondary research database, which is used to address companyspecific benchmarking needs. Some of the benchmarking areas include peer/competitor benchmarking, process benchmarking, best practices benchmarking, service levels and categories, KPIs/ success metrics, financial performance, talent management, supplier relationships, and cross-industry benchmarking and best practices. 

BENCHMARKING

Disruption to supply markets during Covid-19 has impacted many SMBs and large corporations. Our Sourcing and Procurment Intelligence service is assisting clients with Covid-19 Impact Assessment.

Supplier Benchmarking

At SpendEdge, we provide in-depth insights that will help procurement professionals make better purchasing decisions and compare different suppliers. Our analysis is based on multiple parameters including equity interests, sales volumes, technology base, operational and functional capabilities, and manufacturing and distribution capabilities. Our team will work with you to define a set of criteria that matter to your business in order to provide a case-specific supplier benchmarking analysis.

Price Benchmarking

By leveraging our expertise in price intelligence study, we analyze various pricing models, identify key factors driving prices, discover regional variations in pricing, predict price changes, and help enterprises identify suppliers offering better prices. With price volatility being front and center in today’s global market place, we ensure our clients have visibility on the prices that are being offered in the industry and are getting the best value for their money.

Sourcing and Procurement Best Practice Benchmarking

Sourcing and procurement intelligence is what we specialize in and what we have delivered for global clients these past 16 years. With 1500+ delivered projects we have been able to conduct best practices assessments and develop insights that can be applied to industry, country, and sector-specific cases. Our procurement analysts work with you to share case studies and case-specific best practices that will give you visibility into some of the most successful process improvements and procurement transformations. After all, we love working with clients who are driven to elevate the level playing field and close the gap between their current performance and future potential. Procurement done right benefits buyers, suppliers, and all stakeholders.

Typical Coverage Areas and Key Questions Answered

Typical Coverage Areas
  • Identification of peer group companies/buyers
  • Identification of key suppliers to the peer group companies
  • Assessment of sourcing and procurement best practices of peer group companies
  • Peer group success stories/case studies
  • Peer group’s approach towards innovation
  • Level of adoption of best-in-class sourcing and procurement strategies
Key Questions Answered
  • What are the best practices followed by the peer group companies?
  • Who are their suppliers?
  • How do they negotiate prices with suppliers?
  • Are there any interesting success stories?

Testimonials

The team managed to gain detailed insights on a market I knew already and present details on what we should be aware of.

Category Managaer, Leading CPG Company

SpendEdge portal provides us immediate access to information on more than 50 categories. The most attractive feature being Analyst Support. We could ask any question through the portal and have received immediate responses from SpendEdge analysts. This helps us save a lot of time and effort.

Director of Procurement, Leading Packaged Food Manufacturer

SpendEdge has been thinking along with us from the start, enhancing the way we structured the process and the expectations

Leading Leading Luxury Cars Manufacturer

Case Studies

Addressing Volatile Commodity Prices for a Steel Company by Conducting Price Benchmarking Study

A Leading OEM Parts Manufacturer Witnessed A 3x Increase In Process Efficiency With The Help Of Benchmarking Analysis

Peer Group Best Practices Benchmarking Help a Semiconductor Devices Manufacturer Gain an Independent Perspective on Performance

Featured Blog:

The Benefits of Performing Competitive Benchmarking Analysis

Featured Press Release:

Medical Device Manufacturers Increase Cost Savings with Spend Analysis and Benchmarking Solutions

Featured Blog:

5 Major Benchmarking Mistakes That Distributors Must Avoid

Featured Blog:

4 Common Types of Benchmarking in Healthcare

Our Expertise

Category Market Intelligence

Transitioning your category procurement strategy beyond cost-saving and into a strategic function of the organization.

Supply Market Analysis

Enabling companies to achieve procurement maturity, enhanced savings and reduced risks through supply market intelligence.

Low-Cost Country Sourcing/Best Cost Country Sourcing

Empowering you to select the most optimal cost sourcing locations, by understanding prime cost advantages and the associated risks.

Benchmarking

Developing a competitive edge and winning strategy through supplier, price and procurement best practice benchmarking.

Spend Analysis

Optimizing an organization’s spend, by effectively identifying, categorizing, visualizing and evaluating in to order identify savings across the supply chain.

Cost Modeling and Should-Cost Analysis

Obtaining visibility of costs across the value chain to make informed suppliers, pricing, risks and budget-related decisions.

Total Cost of Ownership (TCO) Analysis

Estimating the true cost of doing business, including all direct and indirect costs as the foundation for price negotiations.

Supplier Risk Analysis

Leaning on timely proprietary and secondary market research to evaluate the supplier risk profile in order to mitigate risks.

Supply Chain Risk Assessment

Future-proofing operations and profitability against predictable and unpredictable surprises across the supply chain.

Sustainability Practices Assessment

Transforming businesses and procurement practices with a focus on the triple bottom line value generation: financial, environmental and social.

Commodity Price Forecasting

Activating data-driven procurement planning, assessing pricing-related risks, and supply chain disruptions due to price volatility.

Category Management

Transitioning your category procurement strategy beyond cost-saving and into a strategic function of the organization.

Supplier Negotiations

Positioning sourcing and procurement teams for winning negotiations with current and prospective suppliers.

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Contract Management

Increasing confidence and efficiency in contract negotiation and execution, through analysis, insights and best practices. 

COVID-19

Featured

Overview

Buyers

Diagnostic Test Kit

Additional Resources
Contact

A LOOK INTO THE FUTURE OF THE FOOD AND BEVERAGE INDUSTRY AFTER THE COVID-19 PANDEMIC

Identifying the Top 100 Coronavirus (COVID-19) Test Kit Manufacturers Across Regions

Sourcing and Procurement Market Intelligence Services

Products and Tools

Featured

Services Overview

Category Market Intelligence

Supply Market Analysis

Low-Cost/Best-Cost Country Sourcing

Benchmarking

Spend Analysis

Cost Modeling and Should-Cost Analysis

Total Cost of Ownership (TCO) Analysis

Supplier Risk Analysis

Supply Chain Risk Assessment

Supplier Sustainability Assessment

Commodity Price Forecasting

Category Management

Supplier Negotiations

Contract Management

Procurement Store

Purchase Ready-to-use Reports

SEinsightsTM

Our Robust Procurement Platform

BizVibeTM

Suppliers and Buyers Marketplace

SUPPLY MARKET ANALYSIS FOR A METAL MANUFACTURING COMPANY HELPS ACHIEVE ANNUAL SAVINGS OF $15 MILLION

Industries

Industries Overview

Automotive and Tire

Banking, Financial Services and Insurance

Biotechnology, Pharmaceutical and Life Sciences

Chemicals

Energy

Food and Beverage

Industrial and Manufacturing

ICT, Media and Entertainment

Mining, Metals and Minerals

Retail and CPG

Transportation

INCREASING LOCAL PROCUREMENT BY 28% FOR A COMPANY IN THE METALS AND MINING INDUSTRY – A CASE STUDY BY SPENDEDGE

Resources

Featured

Resources Overview

COVID-19 Resources

Blogs

Case Studies

Whitepapers

Webinars

Press Releases and Media Mentions

5 KEY CORONAVIRUS RISK ASSESSMENT STRATEGIES TO OVERCOME HEALTHCARE SUPPLY CHAIN CHALLENGES

IDENTIFYING STRATEGIC PURCHASING PRACTICES FOR A COMPANY IN THE US FOOD SERVICE INDUSTRY | SPENDEDGE’S LATEST SUCCESS STORY

Clients

Featured

Clients Overview

Who We Serve

Case Studies

SUPPLY CHAIN MANAGEMENT HELPS AN IMPORT AND EXPORT INDUSTRY CLIENT ENHANCE SUPPLY CHAIN VISIBILITY

REALIZING SAVINGS OF $15 MILLION IN PACKAGING SPEND FOR AN FMCG CLIENT – PACKAGING SOURCING STRATEGY

About Us

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About SpendEdge
Why SpendEdge?
Vision, Mission and Values
Clients
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Press Releases and Media Mentions

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