The client, a pioneer in offering break bulk cargo shipping services, wanted to offer its customer a value proposition on sustainability that could not be matched by their peers operating in the logistics industry. To do so, the client was focusing on achieving breakthrough value by leveraging supply market intelligence.
To identify and focus on the development of a sustainability strategy, the logistics industry client approached SpendEdge to help them leverage it’s strong expertise in market intelligence to address challenges arising due to their inability to study the supply market. This engagement entailed the use of a detailed quantitative analysis of various categories within the supply chain to develop and future-proof the best strategy.
About the Client:
One of the world’s largest cargo shipping company, offering break bulk cargo shipping services.
The logistics industry is a volatile one due to which new challenges emerge every year. Confronting such immense transformations pose several challenges for players in this industry. Such market disruptions have different implications for individual organizations based on the segment in which they operate.
This engagement deals with the challenges faced by the client operating in the break bulk cargo shipping segment. The ongoing market trends and developments were adversely affecting the client’s growth as a result of which they wanted to devise a strategy to ensure continued profitability.
Moreover, the dynamic nature of the logistics industry along with the changing customer demands posed several new challenges, which accelerated the need for leveraging market intelligence in devising sustainable supply chain strategies. Therefore, to overcome such challenges and devise a best-in-class sourcing strategy, the break bulk cargo shipping services provider wanted to leverage market intelligence across their global supply network.
How did SpendEdge Help the Client?
Our supply market intelligence experts collaborated with the break bulk cargo services client to develop a comprehensive sustainability approach that responds to the long-term market trends while supporting their corporate strategies. The development process can be categorized into the following three phases:
- Step 1: Internal analysis of the supply market
The initial step revolved around the analysis of supply market data to better understand the market scenario. This involved extensive interviews with market leaders to analyze their business objectives and the business models adopted by them. By doing so, the client was able to classify their strengths and weaknesses and identify key drivers for sustainable performance.
- Step 2: External review to better understand the dynamism in the supply market
Conducting an external review of the market is a pre-requisite to any supply market intelligence assessment. A detailed market review helped the break bulk cargo client to gain a clear understanding of the factors affecting market growth. Also, with the help of such detailed market inputs, the client was able to comprehend the near-term changes in the business environment.
- Step 3: A strategic three-step supply market intelligence-based approach to develop a sustainable strategy to drive business growth
The developed approach helped raise the bar for sustainability in the industry. The scrupulous three-step approach also enabled the break bulk cargo shipping company to effectively implement sustainability practices in their business operations. It also allowed the client to fine-tune their procurement strategies to meet future goals and objectives. This, in turn, led to an increase in profit margins, enhancements in market share, and improvements in ROI.
Key questions answered in this supply market intelligence engagement include:
Benefits of the Engagement:
With the help of SpendEdge’s supply market intelligence solution, the break bulk cargo shipping services provider develop a comprehensive direction for sustainability which helped them reap positive results. The developed approach turned out to be a top differentiator in the company’s performance. Our experts worked as an extension of the break bulk cargo firm to identify the success factors that uncovered several future sustainability opportunities within the logistics industry.
Why is supply market intelligence important for logistics industry players?
As digitization takes the forefront and customer expectation evolve, the logistics industry is expected to face unprecedented challenges. Collaborative business models and advanced sourcing strategies are constantly re-shaping the market landscape in ways that are only beginning to become ostensible. New market entrants in the form of start-ups and market expansions by existing players are also shaking up the global market.
‘Market Intelligence’ is, therefore, the need of the hour, making it essential for logistics industry players to possess the right intelligence at the right time. Hence, leading companies are now approaching SpendEdge to leverage its expertise in supply market intelligence and flourish in a hyper-competitive environment.
This supply market intelligence engagement points out the fact that market intelligence is an essential success factor, which empowers organizations to keep abreast of the ongoing market disruptions to achieve long-term strategic business goals. Also, the strategic use of market intelligence paves the way for organizations to confront the ever-increasing procurement challenges.
Besides, it is quite evident from this engagement that effective use of market intelligence will eventually help you achieve the set goals. If your organization is on the lookout for an objective way to drive sustainability, we’re here to help. Wait no more! Go ahead and get in touch with our supply market intelligence experts to develop custom configured engagement models and procurement research deliverables.