Managing Market Fluctuations, Acquisitions, and Divestitures, by Building an Agile Supply Chain – A Procurement Intelligence Study by SpendEdge
LONDON--(BUSINESS WIRE)--Jan 25, 2019--SpendEdge, a well-known procurement intelligence solution provider, has announced the completion of their latest . The report provides detailed insights into the challenges faced by retail companies in managing their supply chain while addressing the market disruptions. It also shows how procurement intelligence solutions can help tackle such supply chain issues efficiently.
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Procurement intelligence study for a retail company. (Graphic: Business Wire)
Rising market disruptions have created the need for retail companies to be more agile in terms of adapting to consumer behavior and technological innovations. They are consistently required to establish long-term strategic sourcing and supply management plans to address uptrends in commodity and other raw materials input prices and rapidly increasing global supply chain complexities. Such requirements make it vital for companies operating in the retail sector to avail procurement intelligence services to stay ahead in the competitive market.
According to the procurement experts at SpendEdge, “Leveraging procurement market intelligence can help companies effectively overcome sourcing challenges by providing crucial insights into events that are likely to occur and offers information on alternative suppliers and approaches.”
The Business Problem: The client is a leading multinational retail-clothing firm in the United States with a team of 57000 people across the globe. However, their team was proving to be incompetent in responding proactively to market changes. The rising commodity costs, fuel prices, and labor costs were consistently declining the company’s profit margins. They needed to access industry data to predict changes and market fluctuations that impact supply chain operations. They also wanted to maintain a close relationship with their suppliers for the smooth functioning of businesses operations. This compelled the company to leverage SpendEdge’s procurement intelligence services and manage market fluctuations, acquisitions, divestitures, operational changes, and other factors that impact suppliers’ ability to deliver. They further wanted to build a reliable, low cost, and an agile supply chain to ensure the timely delivery of their products.
Ensuring smooth functioning of business operations demands an agile supply chain. and know how our procurement intelligence solutions can help you overcome sourcing challenges and mitigate procurement risks by effective supply management.
The Solution Offered: The procurement intelligence specialists at SpendEdge analyzed the top competitors of the company to identify their priorities for the year ahead and address the specific requirements of the retail company. Their analysis showed that most retail companies are emphasizing on upgrading their supply management for managing the procurement spend of their organization. To stay ahead of the curve, our experts created a robust procurementmarket intelligence report for the client to strengthen their relationship with suppliers. They also built a reliable, low cost, an and agile supply chain that enabled the client to deliver products in a timely manner. The procurement market intelligence report also provided the retail company with necessary insights to devise an impressive price model analysis that can evaluate competitors’ strategies and help them to identify supplier’s cost and pricing structure.
The long-term uptrend in commodity and other raw materials input prices along with supply chain complexities can dwindle the profit margins for companies. To know how procurement intelligence solutions can help you avoid such business scenarios, .
SpendEdge’s procurement market intelligence report helped the client to:Enhance supplier management and customer satisfaction. Develop a list of suppliers in terms of their business profile, financial structure, and revenue. Want to track prices in real time and accurately forecast the demand for raw materials and commodities? and know how our portfolio of procurement intelligence solutions can help you with this.
SpendEdge’s procurement market intelligence report also offered predictive insights on:Evaluating competitors’ strategies through price model analysis. Managing the procurement with the help of upgraded supply management. Read the complete article to know more:
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INDUSTRY KEYWORD: TECHNOLOGY SUPPLY CHAIN MANAGEMENT OTHER TECHNOLOGY RETAIL COMMUNICATIONS MARKETING PUBLISHING
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PUB: 01/25/2019 09:49 AM/DISC: 01/25/2019 09:49 AM