Standardizing Procurement Costs for an Oil and Gas Industry Firm – SpendEdge’s Latest Cost Analysis Engagement
LONDON--(BUSINESS WIRE)--Dec 28, 2018--SpendEdge, a well-known procurement intelligence solutions provider, has announced the completion of their .
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20181228005121/en/
Cost analysis study for an oil and gas industry client (Graphic: Business Wire)
The client is one of the largest refiners and marketers of oil products in the U.S., with an annual revenue of $2.1 billion. With supply chain complexities skyrocketing, companies are facing challenges in delivering projects within a specified budget, the client realized the need to leverage a cost benefit analysis engagement to gauge the impact of each cost factor on the overall business growth. Additionally, by analyzing the market cost, the client wanted to better understand the demand for commodity prices and determine the price that the end-users were willing to pay for their products.
According to the experts at SpendEdge, “By following suitable cost analysis methods, organizations will be in a healthier position to avoid potential biases that lead to faulty business decisions.”
With the help of SpendEdge’s cost benefit analysis, the client was able to list out the positives and negatives of their investment. During the course of the cost analysis engagement, the oil and gas industry company was able to identify the technology trends and innovations shaping the market’s landscape and gain more relevant insights into the buyers’ behaviors. The cost analysis report also helped them to analyze different scenarios while making accurate investment decisions. Moreover, the cost analysis solutions also helped them make minor tweaks in their investment plan to drive maximum savings and improved business efficiency.
SpendEdge’s cost analysis engagement helped the client to:Determine and gauge current costs and major cost components Identify key cost factors and their impact To know more about the cost management strategies followed by different firms,
The cost analysis engagement also offered predictive insights on:Reviewing historical cost trends and the evolution of the key cost drivers Analyzing relevant data to determine future cost trends Read the complete article to know more:
Are you interested in purchasing procurement reports? Our subscription platform, , provides ready-to-use procurement market research reports for multiple categories. Now access latest supplier news, innovation landscape, markets insights, supplier tracking, and much more at the click of a button. .
shares your passion for driving sourcing and procurement excellence. We are the preferred procurement market intelligence partner for 120+ Fortune 500 firms and other leading companies across numerous industries. Our strength lies in delivering robust, real-time procurement market intelligence reports and solutions. To know more,
View source version on businesswire.com:https://www.businesswire.com/news/home/20181228005121/en/
US: +1 630 984 7340
UK: +44 148 459 9299
INDUSTRY KEYWORD: ENERGY OIL/GAS
Copyright Business Wire 2018.
PUB: 12/28/2018 09:22 AM/DISC: 12/28/2018 09:22 AM