Benchmarking

SpendEdge’s procurement intelligence solutions are aimed to deliver a winsome strategy for supplier benchmarking and price benchmarking.  

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Overview

Price and service comparison activities are instrumental to building a longlasting supplier relationship management 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 price 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, supplier benchmarking 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 information about supplier benchmarking due to factors such as volatile prices. 

This is where SpendEdge’s price 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 company–specific supplier benchmarking needs. Some of the benchmarking areas include peer/competitor benchmarking, process benchmarking, best practices benchmarking, levels of service and categories, KPIs/ success metrics, financial performance, talent management, supplier relationships, and cross-industry price 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

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

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Infiniti Research, Inc. BBB Business Review

Better Business Bureau

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

Deal Benchmarking – Automotive Sector | Procurement Market Intelligence

Deal Benchmarking – Automotive Sector | Procurement Market Intelligence

Finding a robust partnership is challenging, and companies often struggle to successfully replicate previously efficient and effective relationships, due to a lack of clear understanding regarding expectations, key metrics to assess, and organizational requirements from potential suppliers. Deal benchmarking is one of the processes that helps companies overcome the challenges pertaining to finding the right partner, establishing a sustainable partnership, and maintaining growth. SpendEdge helps companies efficiently utilize deal benchmarking and find the ideal partners to propel growth, improve profitability, and meet consumers’ demands.

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Clients

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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

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