Tag: procurement model

IR29

Supplier Profiling, Procurement Best Practices, and Price Monitoring for MRO Services

SpendEdge’s recent procurement intelligence study on maintenance, repairs, operations (MRO) services helps companies in the manufacturing sector to streamline its sourcing and procurement activities and improve their overall position in the market.

Demand trends in the MRO services industry

MRO services offered in the market are essential for the uninterrupted functioning of manufacturing plants and operational facilities of organizations. These services facilitate storeroom management, equipment maintenance, and inventory management. The increase in M&As is resulting in geographic expansion and enhancement of product portfolios to meet the demand in the market. The introduction of integrated services or one-stop-shop solutions is gaining immense traction in the market. Service providers are enhancing the efficiency and increasing buyers’ visibility on various aspects of the MRO supply chain to gain a competitive advantage over other players. The growing adoption of various cost optimization controls will help end-users to achieve high-cost savings and achieve category management that adds value benefits to the entire process. The procurement intelligence report by SpendEdge on MRO services helps companies to identify and shortlist suppliers, evaluate supplier profiling and price monitoring.

The implementation of smart-tech solutions will assist consumers to monitor the health of the production facility and facilitate predictive maintenance actions. The MRO service providers are encouraging the use of advanced technological solutions based on analytics platforms, sensors, and the cloud infrastructure to offer uniform and enhanced services. These systems offer clear visibility into the supply chain and increase the productivity of the employees.

Emergence of e-procurement solutions

Companies are leveraging the Internet, information systems, and networking systems such as EDI and ERP for buying or sourcing products and services. E-procurement helps reduce communication and time required for procurement processes such as catalog requisition and product comparison. Moreover, these systems are designed to eliminate the involvement of paper and enable product or brand comparison details that increase consumer interactions. The suppliers are also adding value-added services that improve the productivity and quality of services offered by the suppliers. E-procurement portals streamline the operational workflow and aids in better inventory management.

Solutions SpendEdge offer to businesses

SpendEdge’s procurement intelligence market study provides a holistic overview of the MRO services market and analyzes information from client account holders, procurement managers, and industry consultants to gain a deeper understanding of the market. The solutions offered includes:

  • Help the client successfully shortlist all the major suppliers in the MRO services market
  • Offer an in-depth understanding of price monitoring, supplier profiling, and cost components
  • Provide a detailed assessment and insights into the supply market, price negotiation strategies, parameters for supplier selection and evaluation, and procurement best practices
  • Shortlist major MRO service providers for their manufacturing units across 14 countries

Read our complete case study titled – Procurement Market Intelligence Solution Helps a Manufacturing Company

 Capture

Other case studies you might be interested in:

For any queries, reach us at – hello@spendedge.com

IR17

Procurement Intelligence Study – Assessing the Procurement Best Practices in the Catering Services Market

SpendEdge’s procurement intelligence study on the catering services market for companies in the telecom sector provides information on cost structures, supplier engagement models, and procurement best practices, which can help them maximize the ROI and find the right suppliers.

Developments in the catering services market

Catering services suppliers provide the food products on-premises or at remote locations such as academic institutions and hospitals. The implementation of food safety and hygiene measures, supervising the catering staff at events, monitoring the quality of the food and its packaging, and planning production is part of the service provided by the catering companies. The different types of services offered by the vendors include mobile catering, café services, event catering, vending services, and contract catering. The growing awareness about the benefits of a balanced nutritional diet and increasing demand for personalized or customized meals is fueling the growth of the catering services market. The increasing popularity of food truck services is revolutionizing the catering services market. These food delivery options offer a wider variety of food, quick service, and are more cost-effective than most of the dine-in restaurants. The growing focus on service innovations such as the use of trending cooking styles and live kitchen counters will have a positive impact on the growth of this market.

The procurement intelligence study by SpendEdge helps companies understand the procurement trends in the catering services market and address the end-user requirements. The increasing demand for nutritious and healthy meals is creating new opportunities for service providers in the catering industry. The organizations in the market are looking for suppliers that can provide vegan and gluten-free alternatives that promote a healthy lifestyle for employees. The demand for dietetic foods or other restrictive balanced meals is boosting the demand for new service providers in the market.

Introduction of varied service stations

The emergence of a wide variety of serving stations helps catering service providers to build a strong brand for their products and attract a larger customer base. The popularity of the live-action stations is gaining immense popularity in the market. These stations feature chefs who exhibit different cooking techniques, prepare meals right in front of guests, and encourage guest interaction. Business events, conferences, and formal meetings request for grazing stations that have an elaborate display of bread, dips, salads, fruits, and light snacks.

Request Free Proposal

Focus on innovations

The growing focus on service and product innovations will help companies to remain competitive in the market. The innovations in equipment save on labor costs, reduce cooking time, and improve the quality of service. The service providers are developing pioneering packaging solutions that maintain hygiene of packaged food, reduce wastage, and enhance food safety. The use of biodegradable materials such as biopolymers and bioplastics to package meals will help service providers promote sustainability and comply with the food and environmental safety regulations. Path-breaking innovations will help service providers gain a large share of the market.

Solutions SpendEdge offer to businesses

SpendEdge’s procurement intelligence study on catering services market for companies in the telecom sector analyzes cost structures, supplier engagement models, and procurement best practices. The solutions offered are listed below:

  • Identify the right catering service providers and negotiate competitive rates
  • Offer a comprehensive understanding of the supplier engagement models, supply market landscape, price negotiation strategies, and pricing models
  • Evaluate the suppliers’ operational and functional capabilities, major regulatory compliance, suppliers’ evaluation and selection criteria, and strategic sustainability practices
  • Categorize the supplier engagement models, cost category drivers, and key market trends
  • Track the latest trends in procurement to help the client maximize their ROI and find the right suppliers

Read our complete case study titled – Procurement Market Intelligence Solutions Helps a Global Telecom Company

 Capture

Other case studies you might be interested in:

For any queries, reach us at – hello@spendedge.com

IR7

Price Negotiation Strategies for Media Buying Through Procurement Intelligence Study

The recent procurement market intelligence study by SpendEdge on media buying and planning helps companies in the FMCG industry to assess the supply market landscape and shortlists media agencies that have strong capabilities and the best prices for its substantial media budget.

Trends in the media buying market

Media buying and planning primarily deals with negotiating, strategizing, and evaluating procuring time of advertising spaces on several media channels such as radios, televisions, newspapers, magazines, and the Internet. An effective media buying strategy will help companies to reach the target audience most economically and efficiently that results in maximized ROI. The increasing media spend on digital platforms, and the introduction of programmatic buying and real-time bidding platforms is fueling the demand for these services in the market. The development of new businesses and start-ups in the emerging nations of India, China, and Mexico is boosting spending on ads and content in the region. Service providers are focusing on expanding their businesses in these regions to increase their revenues and profitability. SpendEdge’s procurement intelligence study on media buying provides a detailed understanding of the supplier engagement models, suppliers’ evaluation, and selection criteria, and cost breakup and positioning for companies in the FMCG sector. This study also offers a complete overview of the sourcing and procurement best practices, current market trends, and pricing models.

The increasing focus using correct content and marketing it efficiently is the new emerging trend in the digital media space. Companies are leveraging the quality of the content to build brand value amongst the external and internal stakeholders. Furthermore, creating and distributing valuable and relevant information on online media platforms will help enterprises attract and acquire more customers. Developing effective content marketing strategies will help companies analyze the consumer buying patterns through their social media interactions.

Programmatic buying to automate media marketing

Programmatic buying allows companies to target a specific group of people and demographics thereby, optimizing and automating the media buying process. By adopting these solutions, companies ensure efficiency in transactions as it cuts down complex tasks in the media buying process and results in cost-effectiveness by eliminating the middlemen. Programmatic buying helps enterprises buy advertisement slots on a real-time basis and significantly reduces the costs associated with digital media planning and procurement.

Request Free Proposal

Adoption of social media analytics

The leading FMCG companies are implementing social media analytics tools to identify their target audience and select the most effective media placement for advertisements and marketing campaigns. The increasing use of social media platforms such as LinkedIn, Facebook, YouTube, and Instagram is encouraging companies to develop effective marketing strategies for these platforms and boost the requirement for media buying services. This analytics identify the behavioral patterns of the target audience and understand which platforms will help achieve desired visibility objectives.

Solutions SpendEdge offer to businesses

The recent procurement intelligence study by SpendEdge on media buying provides an overview of the key suppliers operating in the market, latest trends in procurement, and the service level agreement terms. The solutions offered are listed below:

  • Offer a better understanding of the supply market, which helps identify the key media buying and planning service providers
  • Design effective strategies on cost structure, price negotiation, sourcing and procurement best practices, and supplier engagement models
  • Provide information on cost-saving opportunities, pricing models, price negotiation strategies, service level agreement terms, and contract terms and conditions
  • Deliver comprehensive insights on supplier engagement models, suppliers’ evaluation and selection criteria, and cost breakup and positioning
  • Analyze the supply market landscape and shortlist media agencies

Read our complete case study titled – Procurement Market Intelligence Solution Helps a Leading FMCG Company

Capture

Other case studies you might be interested in:

For any queries, reach us at – hello@spendedge.com

ir10

Procurement Market Intelligence Solutions – Cost Optimization of Legal Services for IT Service Providers

SpendEdge’s procurement market intelligence study on legal services for a leading IT service provider identifies the top suppliers of legal services, provides costs management, analyses competitive landscape, and offers price negotiations.

Market landscape for legal services

Legal services provide advisory and technical assistance and representation services on legal disciplines for industries. These services are diverse and offer services on various verticals of the legal spectrum that includes corporate, labor, real estate, international trade, intellectual property, industrial, bankruptcy, and taxation law. The rise in the number of new business opportunities, dynamic regulatory requirements across multiple countries, and growing focus on effectiveness in service performance is driving the market for legal services. The exponential industrial development across various countries in the world is attributing to the demand for procurement solutions that analyze the emerging industry trends, and best in class business strategies in the legal sector. The recent procurement market intelligence study by SpendEdge offers various cost optimization services to buyers of legal services with better management, huge cost savings opportunities, and value benefits. The study also offers an exhaustive assessment of the legal services market across the globe.

Globalization is resulting in sourcing and allocation of work to low cost, emerging countries in the APAC region. India and China are the hubs for outsourced services, and legal services are gaining momentum in these countries. This is a value-based approach that enables highly strategic legal functions at competitive prices and in accurate volumes. These initiatives will result in cost saving and provide avenues for sourcing specialized services from different countries across the world. The patent filling is the most common legal service that is outsourced currently.

Focus on cyber security

Cyber-attacks and virus threats are plaguing different services across industries. Digitalization and increasing volume of data are encouraging service providers to take steps to secure their databases. Legal firms are sorting out digital solutions to alleviate system protection, manage maintenance, and deal with the downtime. The emergence of secure digital solutions will encourage organizations to meet industry security requirements for data breach and prevention. The increasing number of threats is also boosting the requirement of legal services that specialize in dealing with cyber security laws.

Request Free ProposalCreating a brand identity

The increasing competition and growing need to increase consumer base are fueling the need to create stronger brand identities. Leading organizations are leveraging social media and other digital tools such as blogs and podcasts to connect and offer services to a larger clientele. These mediums are cost effective ways to increase connectivity and retain their existing customers. By improving brand identity, organizations are witnessing faster business development and increased profitability. Legal firms are also leveraging these channels to offer low-cost services and detailed information on their service lines to attract more consumers.

Solutions SpendEdge offer to businesses

SpendEdge’s procurement market intelligence study for legal services offers insights into the supply market, supplier engagement models, cost-saving opportunities, procurement best practices, and price negotiation strategies. The solutions offered are listed below:

  • Deliver better category strategies, understand supplier and market challenges, enhance savings, and implement best sourcing practices
  • Provide a better understanding of the supply market landscape of legal services
  • Offer services to manage cost and negotiate price, manage purchasing process efficiently, devise risk mitigation strategies, and measure the best value
  • Deliver information on vendor capabilities, procurement market insights, cost-saving opportunities, and the top suppliers

Read our complete case study titled – Procurement Market Intelligence Solutions Helps a Leading IT Service Provider

 Capture

Other case studies you might be interested in:

For any queries, reach us at – hello@spendedge.com

Request free proposal