Tag: Supply Market Analysis

supply market intelligence

Supply Market Intelligence: Improving Operating Processes for a Chemicals Company

The chemicals industry is expected to face new supply chain challenges and opportunities. It is therefore critical for companies to understand key developments in the chemicals market and know how supply market intelligence can help them seize this opportunity to gain long-term competitive advantage.

The Business Problem

The client is a leading player in the chemicals industry in North America. Owing to the ongoing high-cost pressure caused by intensifying global competition the client felt the need to prepare themselves for the requirements of future markets. Increasing complexities in the chemicals market due to global demand shifts, market consolidation, and uncertainties further necessitated the client to implement an effective supply market intelligence strategy to stay competitive. They wanted to conduct supply market analysis and identify opportunities for organic growth that was slowed down due to the saturation of markets in the western world as value chains were moving to Asia.

The client, therefore, chose to collaborate with SpendEdge to leverage its supply market intelligence services to build a transparent, structured and lean supply chain and gain detailed insights into supply markets.

Analyzing supply market conditions is imperative for businesses to identify growth opportunities. Request a free proposal and leverage our supply market intelligence services.

Solutions Offered and Client Journey

The supply market intelligence services offered helped the client to identify the current state and starting points for improvements in the procurement process. It paved the way for a structured chemicals supply chain that can address the specific needs of the client. Also, this helped the client to redesign their supply chain processes by conducting in-depth analysis and profiling right suppliers.

SpendEdge’s supply market intelligence services enabled the client to identify products without significant incremental sales and reduce non-profitable complexity by focusing resources on value-adding processes. The experts provided access to a wide range of information that helped the client to gain a high-level understanding of markets without spending much time on supply market analysis. This improved the supply market intelligence process and increased the efficiency of the sourcing lifecycle. In addition, supply market intelligence services offered valuable insights regarding developments in the category markets and helped the client to identify best cost sourcing locations and conduct a supplier cost analysis.

Wondering how you can analyze supply markets, category markets, and identify low-cost sourcing opportunities?

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Key Findings and Outcome

Improved operating process

The supply market intelligence services provided real-time information on suppliers’ activities. This made the client aware of the disruptions that might require immediate actions. Also, this provided necessary insights to find alternate suppliers, devise effective strategies to improve the efficiency of the supply chain and increase reliability across operations.

Provided edge over competitors

Competitive advantage is often gained by companies that are more agile and can proactively devise strategies to address disruptions. Supply market intelligence services helped the client to gain real-time market information, reassess their footprint in Asia to avoid losing market to local players and strengthened their presence in North America.  For detailed insights on supply market intelligence services offered, request for more information.

Benefits of Supply Market Intelligence for Procurement Professionals

Develop superior supply chain strategies

Supply market intelligence services help companies to analyze the impact of potential events on the procurement functions and devise effective procurement strategies. It offers real-time insights into the implications of unique events or disruptions that can occur in the future. It also offers comprehensive insights for procuring the right products and services at the right price levels from suppliers.

Improve customer satisfaction

With the right supply market intelligence services, companies can gain additional information about the customer base and analyze it to defined criteria. They can utilize customer-specific service profiles to offer unique solutions and increase customer satisfaction by anticipating demand patterns.

Analyze suppliers

Supply market intelligence services provide a detailed understanding of various components of supply markets. This helps companies to identify low-cost country suppliers, understand possible supply channels, and obtain geographic distribution of suppliers; thus, enabling them to procure services at the right prices.

Want to conduct a supply market analysis to reduce supply risk? Get in touch with our experts and utilize our supply market intelligence services.

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Agricultural Adjuvants Supply Market Analysis

Agricultural adjuvants are chemicals that are used to improve and enhance the efficiency of fungicides, herbicides, insecticides, fungicides, and other harmful agents.  It is used as an effective agent to drive away harmful pests and diseases in plants. Agricultural adjuvants are the additives that bring about changes in few properties of the spray solution. This helps improve the ability of the pesticide and facilitates its easy penetration. This also enhances the property of the pesticide to protect the target organism effectively. (Source: Global Agricultural Adjuvants Procurement Market Intelligence Report)Contact US

Agricultural Adjuvants Key Markets

The growing need and demand for protecting crops and to minimize crop loss issues arising due to disease are the major driving factors behind the global market of agricultural adjuvants. The need for agricultural adjuvants is also felt due to the declining condition of arable land caused by the inferior quality of agro-chemicals. Some of the essential ingredients for effective crop production are emulsifiers, oils, surfactants, and salts. These ingredients play a very crucial role in further uplifting the market growth of agricultural adjuvants. Countries like India and Russia are focused on the growth of agriculture and that is why these countries are the key markets for agricultural adjuvants. Also, North America, Italy, France, Japan, China are some of the other countries that are pulling demands for this agent.  

Agricultural_adjuvant snipPricing model

Variations in certain natural, economic, and political factors contribute to the volatility of the prices of agricultural adjuvants. It has been rising since 2016 and therefore, is a major issue of concern for farmers. To enhance the efficiency and demand of agricultural adjuvants, there is a continuous investment in R&D of this agent from key global and regional suppliers. Environmental concern is another major issue affecting the prices of agricultural adjuvants. These factors are leading to unstable demand as well as the price of agriculture adjuvants.

Market innovation

TransPhloem technology is a newly adopted innovation in agriculture adjuvants that is very helpful in accelerating pesticides and other active nutrients through the roots of the plants. This technology is proving to be a boon for the market because it is helping in translocating sufficient amount of herbicides to the roots of the plants. This helps in killing the weeds both during and before the burnout of the plantation season. TransPholem also fastens the process of transferring herbicides from leaf surface to plants’ petiole.request proposal

Procurement best practices

To explore cost-saving opportunities, there is a need for agricultural adjuvants suppliers to increase their investment in procurement strategies. To avoid the bottleneck risks for the smooth functioning of the whole chain of supply, buyers are expected to adopt bottleneck management practices. There is a need for buyers to indulge themselves in long-term relationships with the suppliers for a good return on investment. This will also boost their partnership. This can further help in adopting sustainable practices and can, therefore, reduce the overall operating costs of buyers.

Get more insights on the market outlook of the global adjuvants market along with pricing insights, market innovations, supply market insights, and procurement best practices in SpendEdge’s procurement report on the agricultural adjuvants market.

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Supplier Selection Criteria in the Global Bergamot Oil Market

Bergamot takes its name from an Italian city which lies in Lombardy, the place where the bergamot essential oil was originally sold. Bergamot oil was traditionally used in the folk medicine for a number of years to treat general illness and stress. Due to its unique ability to be both uplifting and calming, it is widely used to help deal with anxiety and sadness. Apart from the medical uses, the oil is also used as a flavoring agent for black tea, earl grey tea to be precise. The total category spend on the global bergamot oil market stood at $370.9 billion during 2017. (SpendEdge – Procurement Market Intelligence Report) Analysts estimate positive growth prospects for the market, attributing to the growth in the aromatherapy market. Additionally, there has also been a significant increase in the application of spa and massage-based oils in the hospitality sector. Bergamot oil has been in demand primarily because it acts as mood enhancing and skincare agent. However, buyers in the bergamot essential oils market have a tough time assessing supplier capabilities and avoiding adulterated products. So what are the supplier selection criteria in the global bergamot oil market?

Request Free SampleQuality and safety certifications

One of the easiest ways to assess suppliers is to look for major international and safety certifications. Such certifications act as qualifiers to determine the supplier’s effort in meeting the quality and safety standards. Certificate of Food Safety Management System (ISO:22000: 2005), Food safety certifications (SGF and SGS), Certificate of Quality Management System (ISO 9001:2008), Certificate of BRC Global Standard for Food Safety (July 2012), Organic product certifications, and Kosher and Halal certifications are some certifications to look out for to qualify capable suppliers.

Suppliers distribution and logistics network

About 80% of the global production of bergamot oil is concentrated in Calabria region of Italy. The supplier’s logistics and distribution capabilities are tested because of this factor, making the commercial movement of their products across worldwide market a challenging task. As a result, buyers will have to rate and benchmark suppliers based on their global delivery points and warehousing capabilities.

Packaging and labeling requirements

The buyers of bergamot oil hail from a diverse range of industries including cosmetics, healthcare, personal care, and F&B. Each of the industry will have particular packaging and labeling requirements. Dropper bottles, mini vials with sprayers, glass roll-on bottles, and diffuser bottles are few of the packaging options available to the suppliers. Buyers should thoroughly examine if the supplier can provide the desired option along with their expertise in packaging and prevailing labeling laws.

Suppliers investment capabilities

A high level of vertical integration is seen in the bergamot oil market as suppliers own a network of bergamot plantations and also produce, process, and distribute the oil. As a result, suppliers often gain a high level of visibility across the supply chain to gain relevant insights to cut down on the operational expenses. Additionally, a majority of the suppliers also sell their own brands of such oil. Identifying and selecting such suppliers often fetches the best market rates.

Legal compliance

A host of labor laws and regulations have to be considered by the supplier to ensure legal compliance in any manufacturing sector. Buyers failure to identify non-compliance of the suppliers might lead them to trouble by hampering their brand and hefty fines. As a result, buyers have to assess the existing safety and security measures in the crushing and refining units of the suppliers. Additionally, they must also ensure that suppliers comply along with the prevailing labor laws, safety and security measures, and maintain an acceptable working condition. This can be assessed by having third-party assessments of bergamot oil production plants before engagement.

Read more about the supplier selection criteria in the bergamot essential oil market along with supply market insights, pricing models, category management, key suppliers, and procurement challenges in SpendEdge’s upcoming report on the global bergamot oil market.

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Supply Market Intelligence Helps a Leading Consumer Financial Services Client Achieve an Annual Savings of $40 Million

The Organization for Economic Co-operation and Development (OECD) suggests that financial services typically comprise 20%-30% of the total service market’s revenue across the globe.

Despite the existing regulations in the banking sector, the global financial industry is optimizing their service offerings to pursue new challenges for sustainable growth. With rapid innovations and disruptions, companies in the financial services space are planning to increase their competitiveness and offer an array of financial instruments and products to the customers to manage risks and meet their financial needs. Due to the ongoing financial crisis, the financial services space is shifting to a more customer-centric environment to offer reliable and affordable services to the customers. Although the financial services industry is witnessing a promising growth, certain factors may influence the growth of the industry. These include:

Digitization: With the advances in the technology, customers have become more informed and are looking for agility and convenience in their banking possibilities. With the relentless growth in competition, leading banks are facing pressures to stay relevant and updated with innovations such as mobile services. Moreover, some banks are teaming up with digital firms to drive revenue growth and enhance the risk assessment process.

Regulations: In the recent years, there have been fluctuations in the regulatory environment with the entry of nonbanks into financial services. The banks are uncertain about meeting the regulatory compliance in terms of redesigning products and incentive policies and accordingly forecasting their business plans. Moreover, banking organizations are focusing entirely on driving efficiency of their risk and compliance programs to meet the applicable laws and supervisory expectations.

To counter these challenges and offer reliable solutions, leading organizations are insisting on the need for supply market intelligence solutions.

The Business Challenge and Journey

A leading financial services provider was looking for effective ways to operate more cost-effectively and boost their savings. Moreover, their procurement team wanted to improve supplier performance, mitigate supply risks, and drive innovation. The client also wanted to seek ways to meet government, market, as well as management expectations and further boost their return on equity. The primary concern for the client was to embrace technology to achieve savings targets and enhance their return on investment.

To assess the spending patterns and keep track of the essential data, the supply market intelligence specialists at SpendEdge tailored an extensive research methodology. The methodology in the approach comprised of primary and secondary research coupled with qualitative and quantitative research techniques.

The supply market intelligence solution offered by SpendEdge helped the client maximize the value from spend and gain detailed insights into the pricing and the procurement strategies specific to the financial services space. Moreover, the engagement also helped the client gain deep-dive insights into the recent trends and growth drivers and accordingly allocate their resources to meet the business requirements.

Fundamental questions answered in this supply market intelligence engagement include:

SP- supply market intelligence

The Results

The supply market intelligence engagement offered by SpendEdge assisted the client to gain better visibility into the procurement process. The client was able to profile and shortlist the key risks in the financial services space and apply the procurement best practices to remove the bottlenecks and improve service efficiency.


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Answers to the questions

Supply Market Intelligence Helps a Pharmaceutical Industry Major Drive Higher Efficiency and Savings

Overview of the Pharmaceutical Industry

The pharmaceutical industry firms are involved in the discovery, manufacturing, and marketing of legal drugs, vaccines, biologics (toxins, viruses, serums, and analogous products), and medical devices such as prosthetics and pacemakers. Products of the pharmaceutical industry which include prescription and over the counter (OTC), account for a significant share of the aggregate health care spending and represent major account items in international trade transactions across developed and developing countries. Most spending growth, across the globe, is expected to be fueled by innovations in oncology, autoimmune, and diabetes treatments.

However, there a few factors influencing the growth prospects of the pharmaceutical industry in the coming years. They are:

  • Rising customer expectations: With the commercial environment getting harsher, healthcare payers enforce new cost constraints on healthcare providers and analyze the value medicines offer much more carefully. Customers today expect new therapies that are economically and clinically better than the existing alternatives, coupled with real-world outcome data to support any claim about a medicine’s
  • Capitalizing on knowledge: Finding a way to harness the full potential of technology adopted by an establishment, and the data in its possession, to benefit from the advantages it brings is crucial for firms across the pharmaceutical industry. Therefore, putting in place the essential tools and processes is a way to ensure sustainable profitability of investments.

Supply market intelligence is a perfect solution to the above factors as these solutions assist firms across the pharmaceutical industry in gaining an in-depth understanding of the latest trends, developments, risks, and recommendations on formulating procurement best practices.request free proposal These solutions also help companies develop superior product and service offerings while reducing their procurement spends.

The Business Challenge and Journey

A leading pharmaceutical industry client wanted to migrate from their current decentralized, manual procurement processes and multiple systems to a robust, centralized and automated procurement solution with the aim of increasing its spend under management and realizing higher productivity and savings. Additionally, the client wanted to improve productivity and efficiency of their procurement function while enabling a robust pre-purchase approval system to accomplish informed purchases.

To provide a single view of the enterprise-wide procurement spend and drive higher efficiency, the supply market intelligence specialists at SpendEdge tailored a wide-ranging research methodology. The research approach comprised of primary and secondary research coupled with qualitative and quantitative data collection procedures.

The supply market intelligence engagement helped the pharmaceutical industry client enhance integration with suppliers through portal connectivity. This helped them improve processes and manage indirect spend across the supply chain. The client was also recommended a faster payment cycle which aided them in capturing the early payment discounts and realize higher savings.

Fundamental questions answered in this supply market intelligence engagement

The Results

The supply market intelligence engagement assisted the client in gaining greater visibility on corporate spend across suppliers and categories, enhanced productivity, and achieved tighter control and compliance across their business units.

To know more about our supply market intelligence solutions

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Supply Market Intelligence Helps a Leading Food and Beverage Industry Client Achieve an Annual Savings of $15 Million

Overview of the Food and Beverage Industry

The food and beverage industry plays a unique role in expanding economic opportunities because it is universal to human life and health. Driven by the increasing disposable income, the food and beverage industry has been witnessing noticeable changes in the consumption pattern. The emergence of developing nations coupled with their population growth and increasing government regulations is impacting food and beverage manufacturing companies and their business strategies. Moreover, the higher economic growth of countries such as India, Brazil, and China give people the ability to choose a wide variety of food and beverages; thereby, creating a new market for many products.

Let’s look at some of the fundamental factors that will influence the growth prospects of the food and beverage industry in the coming years.

  • Adhering to changing consumer demands: In today’s competitive marketplace, rising consumer demand for products that are grown sustainably, ethically sourced, minimally processed, and made with natural ingredients is creating uncertainty within the global food and beverage supply chain. As a result, food and beverage companies and their trading partners must create a new supply chain framework that allows them to cater to the needs of consumers without sacrificing on price, convenience, efficiency, product quality, and availability.
  • Differentiation in an oversaturated marketplace: Improved economies across the globe have led to the advent of several new food and beverage producers. Therefore, consumers have a lot of options to choose from when it comes to selecting a food or beverage of their choice. As a result, it is crucial for food and beverage industry players to differentiate themselves from others by offering unique product and service offerings and stay ahead of the competition.

These factors are forcing companies operating in the food and beverage space to leverage the use of supply market intelligence studies to stay ahead of the competition. The supply market intelligence studies help clients gain a deeper understanding of the latest developments and trends, key risks, and recommendations on devising procurement best practices across the food and beverage industry. These solutions also help firms reduce their procurement spends and offer superior product and service offerings to their clients.request free proposal

The Business Challenge and Journey

The client, a renowned player in the food and beverage space with multiple business units spread across the globe, was difficulty managing their sourcing and procurement processes, which resulted in higher expenses across the supply chain. Therefore, they wanted to gain a comprehensive understanding of the suppliers, competitors, their products, services, and spending pattern to cut down on their direct and indirect spends. They also wanted to gain actionable insights on ways to enter into a superior contract negotiation with their current suppliers. As a result, the client approached SpendEdge’s supply market intelligence experts to overcome their predicaments.

To support the food and beverage client overcome their predicaments, 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 engagement, the food and beverage industry client was able to identify the supplier’s pricing and cost structure and devise a price model analysis to evaluate competitors’ strategies. Additionally, a comprehensive SWOT analysis aided the client in establishing a list of suppliers in terms of their business profile, revenue, and financial structure. The engagement also helped the client prioritize action plans, implement best practices, and devise new sourcing strategies across business units to cut down direct and indirect costs while establishing a lean and centralized sourcing and procurement process.

Key questions answered in this supply market intelligence engagement include 

The Results       

The supply market intelligence engagement helped the food and beverage industry client identify the potential supply risks and enhance their procurement and sourcing operations and capability. This helped them achieve an annual savings of $15 million.

To know more about our supply market intelligence solutions

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Procurement Research Report on the Global TV Advertising Market Now Available from SpendEdge

Increased penetration of D2H across geographies has propelled the growth of the global TV advertising market.

LONDON: The procurement research report on the TV Advertising market is a necessary part of SpendEdge’s marketing category portfolio and offers a detailed analysis of the key factors influencing the supply market, sourcing and procurement decisions, pricing models, and procurement best practices. Furthermore, it also offers profound insights into the supply chain management, key market developments, and demand-supply shifts to help sourcing and procurement experts make smart procurement decisions.

Increased spend by end-user segments, such as online businesses, followed by food chains, cosmetics products, and personal care products, on TV advertising has led to the growth of the global TV advertising market. The rise in spending of end-user segments is attributed to factors such as an increase in their marketing budget.

“Purchasing managers must partner with service providers that possess technological capabilities such as programmatic buying and geo-targeting,” says Tridib Bora, a marketing industry procurement research specialist at SpendEdge. “This provides cost-saving opportunities in terms of reaching target customers at a low cost and ensures the reach of the TV advertising campaign to the right target audience,” added Tridib.

It is difficult to identify service providers that possess the expertise and have capabilities to create innovative campaigns that can attract an audience and stand out in the TV advertising space. Collaborating with service providers that have low proficiency and limited service portfolio may result in poor campaign performance in terms of converting sales.

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This procurement report on the TV advertising market offers insights on:

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

 

 

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Procurement Research Report on the Global Rice Husk Ask Market Now Available from SpendEdge

Increasing global demand for rice husk ash from the growing building and construction segments for manufacture of substances, including concrete mixes and the steel.

LONDON: The procurement research report on the rice husk ash market is an indispensable part of SpendEdge’s agro commodities and raw materials category portfolio and offers a detailed analysis of the key factors influencing the supply market, strategic procurement and sourcing decisions, pricing models, and procurement best practices. Furthermore, it also offers meticulous insights into the key market developments, demand-supply shifts, and supply chain management to help sourcing and procurement experts make smart procurement decisions.

Rice husk ash is widely used in the steel industry due to its beneficial properties such as high insulation, low thermal conductivity, high melting point and porosity, and low bulk density. This makes it suitable for producing flat steel whose typical uses are in the production of automotive body panels and white goods.

“Procurement managers must comply with certifications and quality standards to ensure quality of the end-use products or applications,” says A Kowshik, an agro commodities and raw materials industry procurement research specialist at SpendEdge. “Suppliers also need to adhere to various compliance systems issued by REACH, NSF, UKAS, and FDA,” added Kowshik.

Purchasing managers find it challenging to formulate procurement budgets as there is significant volatility in prices of raw materials. The lack of knowledge on price fluctuations can be disadvantageous, and purchasing managers must end up paying more than the market price due to contractual obligations.

 

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This procurement research report on the rice husk ash market offers insights on:

  • Supply markets, growth drivers, trends, and imminent restraints
  • Procurement best practices
  • Negotiation strategies and cost-saving opportunities
  • Key suppliers and assessment of their capabilities
  • 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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