Tag: sourcing analysis

IR14

Strategic Sourcing Analysis Helps A Leading Energy Drinks Manufacturer Transform Procurement and Drive Higher Savings

Overview of the Energy Drinks Market

The global energy drinks market is anticipated to witness high growth owing to the consumer’s increasing attention towards health consciousness and hectic lifestyle. These beverages are intended to give instant energy along with providing mental and physical stimulation. The main ingredients, which helps in providing stimuli, is caffeine. Taurine is another significant component, which is essential for skeletal muscle development and cardiovascular function. request free proposalFurthermore, significant growth in the number of athletes and sports persons is likely to support the growth of this market in the coming years.

However, a few factors are expected to restrain the growth of the energy drinks market. These factors include:

  • Negative publicity: Negative publicity in the media and implementation of stringent government regulations across the globe are posing serious challenges to the development of the energy drinks market. Bad publicity picked up by the mass media can have a substantial negative impact on the brand’s name and sales and profitability for firms in this space.
  • Rising health concerns: Today, consumers are increasingly becoming conscious of the health risks associated with the consumption of energy drinks. Therefore, the recent increase in health concerns is another factor that is hindering the growth of the market.

The Business Challenge and Journey

The client, a global manufacturer of energy drinks with manufacturing units spread across the globe, wanted to develop robust sourcing analysis capabilities across categories and geographies to enhance their visibility into spend areas and drive higher savings. Additionally, the client wanted to implement a robust procurement automation system to streamline its sourcing and procurement processes, boost transparency, and increase savings across the supply chain.

The strategic sourcing analysis experts at SpendEdge tailored a cohesive research approach. The approach included primary and secondary research methodology coupled with qualitative and quantitative data collection procedures to help the client enhance their overall procurement process.

During the course of this strategic sourcing analysis engagement, the energy drinks manufacturing client was able to deploy an automation system solution that integrated the end-to-end procurement process from source to contract — one that connected the results of sourcing events to the resulting buyer and supplier contracts. Furthermore, the client not only developed a best-practice methodology to reduce sourcing cycle time but also created long-term interrogable repositories of supplier responses and sourcing activities across their business units.

Key questions answered in this strategic sourcing analysis engagement

The Results

SpendEdge’s strategic sourcing analysis engagement helped the client take advantage of the potential opportunities, changing market factors, and unforeseen circumstances with rapid responses. This helped them achieve efficiency gains across their business units.

To know more about our strategic sourcing analysis solutions

request free proposal


IR36

Top 5 PCI Compliance Solutions Provider Securing Digital Payments

The world is moving towards a cashless economy with debit and credit cards being the preferred mode of payments over cash. The number of transactions processed by the card industry is growing significantly, and so is the concern for the security of payments and cardholder’s information. As a result, Payment Card Industry (PCI) compliance laws are put in place to reduce the risk of debit and credit card data loss. PCI compliance solutions include consulting and remediation solutions that help to fulfill the Payment Card Industry Data Security Standard (PCI DSS) and other requirements of organizations. PCI compliance solutions are used across industries such as BFSI, manufacturing, technology, media and entertainment, construction, healthcare, and retail. However, the rapid increase in adoption of digital payments modes within the e-commerce industry is driving the demand for PCI compliance solutions. The procurement market intelligence report for global PCI compliance solutions market forecast a CAGR of 7.3% for the period 2017-2022.

Request Free SampleVerizon

Verizon is an American telecommunication conglomerate and the largest wireless communication service provider in the US. The key services offered by Verizon includes wireless communications, mobility, internet of things, IT solutions and cloud, and business communications. Verizon’s PCI compliance solutions help clients to understand the requirements that affect business, avoid common pitfalls that increase risk, and navigate the road to compliance. In 2017, Verizon released a Payment Security Report, which demonstrated the correlation between organizations PCI compliance standard and their ability to defend themselves against cyber attacks.

AT&T

AT&T provides network, cybersecurity, and mobility services to businesses. The company provides services and solutions to end-user industries such as finance, healthcare, retail, hospitality, consumer goods, and transportation. AT&T offers a robust suite of solutions for PCI compliance including consulting, managed security, strong authentication, and project planning and management services. Here are some of the detailed solutions offered by the company:

Build and maintain a secure network·         AT&T Consulting Firewall Assessment Services

·         AT&T Managed Security Services

·         AT&T Managed Firewall Service

Protect cardholder data·         AT&T Encryption Services

·         AT&T VPN Services

·         AT&T Web Security Services

Maintain a vulnerability management program·         AT&T Endpoint Security Services

·         AT&T Managed Endpoint Security

·         AT&T Consulting Application Services

Implement strong access control measures·         AT&T Token Authentication

·         AT&T Consulting Secure Network Integration

·         AT&T Managed Hosting

Regularly monitor and test networks·         AT&T Internet Protect

·         AT&T Security Event & Threat Analysis

·         AT&T Security Device Management

Cisco

Cisco manufactures and sells networking hardware equipment and telecommunications equipment. It also provides solutions to ensure compliance with standards such as PCI and HIPAA. The company is also a member of the PCI Board of Advisors, Technical Working Groups, and DSS Special Interest Groups. On June 26, 2017, Cisco announced new training and developer programs for its 28,000 networking professionals at the company’s annual user conference to accelerate the adoption of internet-based networking.

IBM

IBM is one of the oldest technology company that provides hardware, software, and middleware apart from hosting services in areas such as mainframe computers and nanotechnology. The company offers a range of services for businesses including cloud services, business consulting, financing, analytics, unified communication services, and compliance services. Recently, IBM announced that it is teaming up with Toronto-based FinTech company, Dream Payments to generate new revenue streams from mobile payment solutions. The partnership has allowed Dream Payments to maintain bank-grade security, scale its cloud infrastructure, and improve PCI compliance and data sovereignty.

Trustwave

Trustwave Holdings in an American company that offers solutions to help organizations fight cybercrime, protect data, and reduce security risks. The company caters to industries such as education, restaurants, payment services, financial services, retail, and government. The company offers around-the-clock support, a full suite of PCI services, access to world-class PCI experts, and security portfolio that enables compliance. In 2017, the company was named the best PCI compliance provider for the second year in a row at the CNP Expo held in Orlando, Florida.

Read more about the top vendors in the PCI compliance solutions market along with pricing models, procurement best practices, supply market insights, and category management in SpendEdge’s upcoming report on the global PCI compliance solutions market.

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IR31

SpendEdge’s Strategic Sourcing Analysis Helps an Industrial Equipment Manufacturer Transform Procurement Function

Overview of the Industrial Equipment Manufacturing

The industrial equipment manufacturing industry is responsible for the fabrication of products intended for industrial use from raw materials around the globe. It is the output of this industry which has made further mass manufacturing possible in most other industries. Industrial equipment is typically grouped into seven different segments. Construction, agricultural, and mining machinery; industrial machinery; and service and commercial machinery are all special-purpose machinery designed for a specific industry. One of the key trends in the industry is the rising use of high-tech production techniques. As a result, companies are introducing advanced technologies in response to pressure from domestic and foreign competitors. Computers, robotics, and programmable equipment are common, resulting in increased productivity due to improved efficiency and a decreased requirement for unskilled labor.

However, a few factors are expected to hinder the growth of the industrial equipment manufacturing industry. These factors include:

  • The rise of the Internet of Things (IoT): The IoT represents the ever-growing network of physical objects embedded with sensors and communication technology, letting them exchange data with users and manufacturers. Internet-connected machinery and equipment are having a tremendous impact on industrial manufacturing. Assets that can communicate performance data to operators in real-time provide data that guarantees maximum uptime reliability and prevents protracted outages.
  • The economic growth of developing markets: The demand for manufactured goods is rising fast as countries like India, China, and Brazil are experiencing strong economic growth. As a result, companies are raring to provide superior products and services while being cost-effective.

These factors are compelling industrial equipment manufacturers to leverage the use of strategic sourcing analysis solutions. Strategic sourcing analysis solutions help companies in generating optimal sourcing and procurement method and measurement tools to drive savings. request free proposalAdditionally, these solutions assist firms operating in the industrial equipment manufacturing sector to centralize the suppliers’ responses and compare the responses within the client’s system.

The Business Challenge and Journey

The client, a renowned manufacturer of industrial equipment with business operations spread across the globe, wanted to develop robust sourcing analysis capabilities across categories and geographies to enhance their visibility into spending and drive higher savings. Additionally, the client wanted to implement procurement automation technologies to streamline its sourcing processes, increase savings, and boost transparency.

The strategic sourcing analysis experts at SpendEdge tailored an integrated research approach to help the client improve their overall procurement process. The integrated approach included primary and secondary research methodology coupled with qualitative and quantitative data collection procedures.

With the help of SpendEdge’s strategic sourcing engagement, the industrial equipment manufacturing client deployed a comprehensive technology solution that integrated the end-to-end procurement process from source to contract — one that connected the results of sourcing events to the resulting buyer and supplier contracts and reflected the negotiated contract terms. Additionally, the client not only developed a best-practice methodology to reduce sourcing cycle time by also created a long-term interrogable repository of supplier responses and sourcing activities across business units.

Key questions answered in this strategic sourcing analysis engagement

The Results

The industrial equipment manufacturing client was able to take advantage of new opportunities, unforeseen circumstances, and changing market factors with a rapid response and in turn drove savings. Additionally, due to the ease of use and a single view of all procurement activities, the client reported substantial efficiency throughout their processes.

To know more about our strategic sourcing analysis solutions

request free proposal


Outsourcing services

Increasing culinary applications in mediterranean dishes and multiple health benefits driving the olive oil market

Olive Oil

London, Jan 15, 2018: The constant increase in the demand for extra virgin olive oil to cook Mediterranean dishes is driving the growth in the global olive oil market. Extra virgin olive oil is being marketed as premium and provenance-based oil, which has initiated trial and adoption across major consumption markets such as India, Brazil, Russia, Japan, and China.

SpendEdge’s latest procurement research report on the global olive oil market offers an in-depth assessment of the crucial factors influencing the supply market, strategic procurement and sourcing decisions, pricing models, and procurement best practices. The report, a part of the agro commodities and raw materials portfolio, also offers detailed insights into the supply chain management, key market developments, and demand-supply shifts to help sourcing and procurement experts make smart procurement decisions.

Research studies have also proved that olive oil-based diet is more effective for weight-loss as it raises high-intensity lipoproteins (good cholesterol) compared with a standard low-fat diet. This is the prime reason why the global demand for olive oil is in the rise” – A Kowshik, agro commodities and raw materials procurement research specialist at SpendEdge.

A majority of the olive oil production is concentrated in countries around the Mediterranean Basin (Spain, Italy, and Greece). The extreme climatic conditions (high temperature and occurrence of floods) along with the instance of crop infection in 2014 have impacted the production. This has impacted the assurance of supply of the oil in desired quantities. This has also created an upward pressure on the price of the oil and is likely to increase management complexity, and overall procurement spend.

Need more insights on this report?

Request Free Sample 

This procurement report on the olive oil market offers insights on:

  • Supply markets, growth drivers, trends, and imminent restraints
  • Key suppliers and assessment of their capabilities
  • Procurement best practices
  • Negotiation strategies and cost-saving opportunities
  • Pricing models and category innovations
  • For a comprehensive, detailed list, view our full report

Get unlimited access to all our reports. Our Insights platform ready-to-use procurement research reports, latest supplier news, innovation landscape, markets insights, supplier tracking, and much more at the click of a button. Request a free demo now


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Strategic Sourcing Helps an Apparel Industry Client Realize $4 Million In Savings

Overview of the Apparel Industry

Initially, clothing was used to protect the human body from harsh environmental conditions. Later, as the wheels of time started spinning, new trends emerged, and manufacturing of fashionable garments came into existence. The apparel industry produces finished clothing such as men’s, women’s, kid’s clothing, and other intimate apparel. Apparels manufacturing is one of the most in-demand businesses today. To remain competitive, apparel industry manufacturers seek to expand their business in various ways. Furthermore, factors such as volatile fashions, short product life cycle, unpredictable market trends and impulse buying behavior of customer are to be given highest importance by manufacturers to sustain themselves in the apparel industry segment.

The apparel industry plays a crucial role in developing a nation’s economy in terms of revenue generation and creation of employment. The apparel industry is undergoing a drastic change due to global sourcing and high level of price competition. Moreover, the rise in disposable incomes, favorable demographic factors, a substantial shift towards branded apparel, and change in consumer behavior has resulted in a positive growth for the global apparel industry.

Let’s take a look at some of the critical factors that are expected to influence the growth prospects of the apparel industry in the coming years.

  • Sustainability: Due to consumer’s ever-increasing environmental awareness and the detrimental effects the fashion industry has on the environment, consumers are now choosing to invest in brands that are actively seeking sustainable alternatives to conventional apparel manufacturing. Moreover, consumers have become hypersensitive to the way retailers manufacture their products regarding acceptable health and safety standards, labor practices, water consumption, and disposal. 
  • Product Sourcing: Sourcing is a two-pronged issue in the apparel industry. Increasing awareness of working environments in facilities across the supply chain, from garnering raw materials to manufacturing and shipping, puts pressure on firms operating in the apparel industry to practice responsible procurement that can enhance their brand image.

As a result of these factors, apparel industry firms have started leveraging the use of strategic sourcing solutions. Strategic sourcing analysis help firms increase focus on spend and supplier management and streamline the procurement process, thereby, ensuring service quality and best in class prices over the long term. request free proposalThese solutions also assist firms in generating optimal sourcing and procurement methods and measurement tools to drive savings across the supply chain and business units.

The Business Challenge and Journey

The client, a leading apparel industry firm with business units spread across several geographies engaged in manufacturing, sourcing, marketing, licensing, and supplying footwear, apparel, and accessories to the retail sector was focusing on top line growth. The selected growth path did not factor in optimization of procurement costs, neglecting obvious savings. This neglect led to an excessively large supply base, unleveraged spend, and mediocre service levels.

To help the apparel industry firm effectively manage its unwieldy supply base, the strategic sourcing specialists at SpendEdge tailored a comprehensive research methodology. The research approach comprised of primary and secondary research coupled with qualitative and quantitative data collection procedures.

During the course of this strategic sourcing engagement, the apparel industry client was able to identify suppliers offering best in class service levels. The client also identified and implemented procure to pay (P2P) improvements that would eventually drive financial and item availability benefits. Furthermore, an RFx tool helped the firm’s procurement isolate key cost-drivers for each category and engage suppliers in live auction events, thereby driving bottom-line savings.

Key questions answered in this strategic sourcing engagement

The Results

With the help of this strategic sourcing engagement the apparel industry client actively involved in a broad range of strategic sourcing categories including direct material, supply chain categories, marketing & sales, and indirect material. This helped them realize $4 million in savings.

To know more about our strategic sourcing solutions

request free proposal

 

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Strategic Sourcing Analysis Helps a Car Rental Services Provider Achieve 20% in Annual Savings

Category Overview

The global car rental services industry is expected to proliferate over the next few years owing to the increase in international air travelers and increase in the volume of domestic tourists across the globe. Moreover, evolving trends, which have a direct impact on the dynamics of the car rental services industry, include enhanced user experience through digitization, the introduction of autonomous vehicles and green vehicles, improved technologies in car rental services are boosting the growth of this market. However, making the most out of the prospects in this industry space requires a comprehensive understanding of the central forces disrupting the growth of the industry. request free proposalAs a result, companies operating in the car rental services industry space have started leveraging the use of robust strategic sourcing analysis studies to streamline their sourcing and procurement processes across the supply chain and business units. Strategic sourcing analysis help companies operating in the car rental services industry to generate optimal methods and measurement tools to allow the organization to replicate upcoming results.

With over 14 years of proficiency in offering a wide array of strategic sourcing analysis solutions, SpendEdge assists companies operating in the car rental services industry to centralize the suppliers’ responses and automatically compare responses within the client’s system.

The Procurement Pain Point and Insights Offered

A renowned client specializing in offering car rental services was facing predicaments in managing their indirect spend owing to their rapid growth and lack of management. Additionally, multiple client sites had different business requirements and policies for rental car sourcing. This eventually subjected the client to excessive rental car rates and unfair terms and conditions.

To cater to the diverse business requirements of the client specializing in offering car rental services, SpendEdge’s strategic sourcing analysis experts tailored an extensive research which included primary and secondary research methodology coupled with qualitative and quantitative data collection procedures.

During the course of this strategic sourcing analysis engagement, the car rental services client was able to decrease the bid process timeframe while ensuring efficient and cost-effective vendor consolidation. Additionally, the client was able to classify the various car types, fees, and services that the client needed so that they could quickly ascertain their client’s travel requirements. Furthermore, they implemented e-sourcing tools to leverage the parent company’s international and domestic travel purchase decisions.

Fundamental questions answered in this strategic sourcing analysis engagement include

Business Outcome 

This strategic sourcing analysis engagement helped the car rental services client increase customer satisfaction through rationalizing the provider base, reduce contract administration, and overhead costs. Additionally, they established spend visibility at all levels of the organization which helped them achieve 20% in annual savings.

To know more about our strategic sourcing analysis solutions for car rental services providers

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Strategic Sourcing Analysis Helps a Steel Industry Client Streamline Their Sourcing and Procurement Efforts

Category Overview

The global demand for steel is expected to grow due to advances in developed economies and accelerating growth in emerging and developing markets, including India, Russia, and Brazil. The combination of factors such as growth in related complementary industries coupled with governmental regulations, general economic conditions, cyclical fluctuations in input prices, and end-use markets are also expected to impact the growth of the steel industry significantly. Technological developments and new product growth at competitive prices are also likely to be the critical factors for the future growth of the steel industry. However, according to the strategic sourcing analysis experts at SpendEdge, the unavailability of raw materials from the mining sector such as coal, iron ore, and power and achieving economies of scale to reduce costs and enhance the quality of output are some of the significant challenges being faced by the steel industry players. Moreover, in this dynamic era of relentless competition and innovation, it is vital for companies operating in the steel industry to comprehend the dynamics of the industry and refine their portfolios and business models to meet the ever-growing demands of their end-users. As a result of these challenges, companies operating in the steel industry space have started leveraging the use of robust strategic sourcing analysis solutions. request free proposalStrategic sourcing analysis solutions help companies operating in the steel industry space to drive value across its sourcing and procurement activities through better spend visibility, staff training, and process transformation.

With over 13 years of proficiency in offering a wide array of strategic sourcing analysis solutions, SpendEdge helps client operating in the steel industry space to streamline their sourcing and procurement efforts.

The Procurement Pain Point and Insights Offered

A global steel industry client with offices spread across various geographies was facing predicaments common to enterprises that employ mergers and acquisitions as a growth strategy. For instance, when the client absorbed a businesses, they also absorbed their procurement processes, as well as their suppliers. Also, the acquired companies usually featured disparate information technology systems and lacked universal item codes. Furthermore, the company also recognized the scope for streamlining processes and cost savings in indirect and MRO spend.

To reduce sourcing costs, the steel industry client approached SpendEdge. SpendEdge, with a track record of end-to-end strategic sourcing success — from design through implementation, tailored a comprehensive research which included primary and secondary research methodology coupled with qualitative and quantitative data collection procedures.

The strategic sourcing analysis helped the steel industry client to identify and deploy the right sourcing strategies and negotiate favorable terms with suppliers. Additionally, the client was able to standardize the way they obtained materials with a comprehensive checklist. Furthermore, the client was able to develop category-specific sourcing strategies, create total cost optimization models, and analyzed the supply market.

Fundamental questions answered in this sourcing analysis engagement include

Steel IndustryBusiness Outcome 

The strategic sourcing analysis helped the steel industry client classify and analyze more than $100 million of spend data. Additionally, the client was able to analyze and simplify even the most complex procurement scenarios with the help of a bid analysis tool.

To know more about our sourcing analysis solutions

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Strategic Sourcing Analysis Helps a Health Insurance Firm Drive Value Across Their Procurement Processes

Category Overview

Over the past couple of years, the health insurance sector has become extremely fragmented owing to the existence of numerous companies offering a wide array of health insurance schemes at a competitive price. Additionally, the demand for the healthcare insurance is on a constant rise due to the increasing instances of chronic diseases and aging population across the globe. request free proposalHowever, making the most out of the opportunities in this market space requires an in-depth understanding of the central forces disrupting the health insurance industry. As a result, leading firms operating in the health insurance space have started leveraging the use of robust strategic sourcing analysis studies. These studies help health insurance industry players to drive value across its sourcing and procurement activities through superior spend visibility, process transformation, and staff training.

With years of experience in offering a range of sourcing solutions, SpendEdge help clients lessen the turnaround time for their sourcing and procurement activities.

The Procurement Pain Point and Insights Offered

A leading health insurance client was facing predicaments in improving invoice processing and policy compliance. The client was also facing challenges in standardizing and centralizing their sourcing and procurement process. As a result, they wanted to improve their overall efficiency by devising a flexible resource deployment model.

To cater to the health insurance client’s specific business issue and provide actionable insights to drive value across their procurement processes, the strategic sourcing analysis experts at SpendEdge followed a wide-ranging research methodology which included primary and secondary research methodology coupled with qualitative and quantitative data collection procedures. During the course of this strategic sourcing analysis engagement, the health insurance client was able to gain in-depth insights into their procure-to-pay processes and state process maps. Additionally, the client improved invoice processing, policy compliance, and enhanced their supplier interaction.

Fundamental questions answered in this sourcing analysis engagement include

Business Outcome 

The health insurance client was able to reduce the turnaround for their procurement processes across the supply chain with the help robust, standardized and, centralized sourcing strategies. This helped them drive value across their sourcing and procurement functions. Furthermore, the client gained actionable insights into the supplier negotiation strategies to implement procurement best practices.

To know more about our sourcing analysis solutions

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Contract logistics

Strategic Sourcing Analysis Helps a Leading Consumer Electronics Retailer Streamline Sourcing and Procurement Process

Category Overview

Today, the retail shopping behavior and pattern of the customers have drastically changed due to the ease of availability of internet and smart devices. Additionally, with the growing preference for mobile shopping over the traditional methods of shopping, retail firms in the consumer electronics space are looking for promising solutions to streamline their sourcing and procurement processes. request free proposalAs a result, leading consumer electronics retailers across the globe have started leveraging the use of robust sourcing analysis studies. These studies help consumer electronics retailers standardized, centralized, and streamline their sourcing and procurement process across business units.

With years of proficiency in offering strategic sourcing solutions, SpendEdge helps consumer electronics retailers devise superior sourcing and procurement best practices. Additionally, these solutions also help clients decrease their turnaround time for their procurement processes.

The Procurement Pain Point and Insights Offered

A leading consumer electronics retailer was facing predicaments in achieving effectiveness and efficiency across their sourcing and procurement processes. Additionally, the client was also facing difficulties in establishing a flexible resource deployment model to improve their productivity of internal operations. Also, the client wanted recommendations on standardized reporting tools to measure the spend management capabilities across the supply chain.

To cater to the specific business requirements of the consumer electronics retailer, the strategic sourcing analysis experts at SpendEdge tailored a comprehensive research methodology. This all-inclusive research methodology included primary and secondary research coupled with qualitative and quantitative data collection procedures.

During the course of this sourcing analysis engagement, the consumer electronics retailer was able to identify and assess the sourcing strategies in terms of low-cost and best-cost country locations. Additionally, the client was recommended with robust approaches and tools to devise quick strategic sourcing and procurement processes across platforms and business units consequently helping them achieve significant cost savings.

Fundamental questions answered in this sourcing analysis engagement include

Business Outcome 

The strategic sourcing analysis engagement helped the consumer electronics retailer gain actionable insights into the supplier negotiation strategies to engineer procurement best practices across the supply chain. Additionally, the client was able to streamline their procurement efforts significantly.

To know more about our sourcing analysis solutions

request free proposal

Request free proposal