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Procurement and sourcing intelligence being one of the very core focus areas of our business, we have provided several reputable clients with highly customized rate card benchmarking studies that help them navigate markets ripe with high price volatility and ensure they are well equipped with reliable insights to make cost-effective purchase decisions.
A basic comparison of pricing metrics may reveal differences among competitors but that may not be sufficient to make informed decisions that will ensure profitability and continuity. It’s highly essential to understand the factors that cause these differences in order to gauge regional variations in prices and anticipate price changes in the short-term and long-term with high accuracy.
Procurement decisions may seem straightforward in some ways at the outset, but the scope goes way beyond simply looking at what the best rates in the market are or which suppliers offer the lowest rates. Our experts work with clients to fully understand their needs and then identify and define the criteria and methodology that will yield the best possible outcome.
In a rapidly changing environment, it is imperative for organizations to be aware of the best practices related to sourcing and procurement to keep up with peers and potentially gain a competitive edge over them. Our analysts perform deep-dive analysis to offer clients relevant insights using case studies that highlight some of the most recent and successful procurement process improvements.
Challenge: Faced with intense competition and the need to improve profit margins, our client turned to SpendEdge for assistance in overcoming their business challenges. One of the main strategies involved migrating cost-intensive operations to low-cost destinations.
Solution: Our team at SpendEdge assisted the client in streamlining their contract manufacturer selection process. Leveraging our expertise and market research methodology, we identified key contract manufacturers for the client’s ready-to-eat product line.
Result: The client successfully addressed their business challenges and achieved improved profit margins and reduced operating costs. All the while, also enhancing product quality and expanding manufacturing capabilities.
Read More Know about SpendEdge ProcurementIn times of unprecedented pricing uncertainty arising from scenarios such as COVID or political unrest, inventive yet reliable rate card benchmarking solutions are the need of the hour.
Talk to Our Experts
Gain insights related to your key spend categories, ranging from important updates, outlook, and engagement models, to in-depth supply-chain risk analysis.
Improve supplier selection decision making and supplier relationship management through our services covering supplier identification, supplier updates and alerts, and risk and sustainability analysis.
Improve strategic decision making through our services related to negotiation advisory, best practices, risk mitigations, supplier KPIs and SLAs, and cost optimization mechanisms.
Keep a close look at price movements and forecasts for key commodities and the impact of different cost drivers to formulate effective cost reduction strategies.