LONDON: SpendEdge, a global procurement market intelligence firm, has announced the release of their report portfolio on the global manufacturing industry.
While technology is playing a big role in transforming production processes in the global manufacturing industry, a majority of the key industry players are struggling to identify optimal manufacturing cost strategies to deploy the newest innovations in their business infrastructure. An industrial manufacturing project typically entails an indefinite procurement spend, which pose as a major procurement challenge for the stakeholders to morph their current cost strategies to make space for additional investments. Established companies who boast a full gamut of industrial operations are still managing to eke out profits from their customer base.
However, SpendEdge argues that the marketplace is one unforgiving forum where the ability to identify and adapt to new trends defines the success of firms. The Industry 4.0 revolution, which asserts the necessity of adopting automation in the manufacturing process, is mounting additional pressure on category managers who are struggling to revamp their old-school business model to usher in the breakthrough capabilities without loosening their purse strings. A majority of such category managers are finding answers to such procurement challenge in the market intelligence reports developed by the procurement experts at SpendEdge. These reports help in the creation of a tangible procurement strategy along with optimal manufacturing cost strategies that befit the changing trends of this market space. By assessing the potential risks affecting the market, these sourcing and procurement reports recommend a set of procurement best practices that are meant to foster stability while practicing business in this market. (more…)