Leveraging SpendEdge’s Price Forecasting Analysis for Analyzing the Future Trends and Price Variations for a Luxury Car Manufacturer
LONDON--(BUSINESS WIRE)--Nov 27, 2018--SpendEdge, a well-known procurement intelligence solution provider, has announced the completion of their latest . The client is a luxury car manufacturer, with an annual revenue of over $20 billion. Based out of Los Angeles city in California, the company employs over 2800 individuals. With the increasing preference for top variants of budget car brands and emerging technologies, the luxury car manufacturer wanted to leverage price forecasting strategy to navigate through these rigorous challenges. Moreover, they wanted to understand the overall price change influence on their sales volume and comply with the dynamic automotive industry trends.
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Price forecasting study for an automotive industry firm (Graphic: Business Wire)
Price forecasting deals with the collection and analysis of the demand and supply information in real-time. Implementing price forecasting solutions helps businesses to focus on pricing strategies to drive organizational value. This helps them to emphasize adding value to procurement rather than merely cutting procurement costs.
According to the procurement experts at SpendEdge, “ Price forecasting allows businesses to establish control points within the operations to track financial performance. ”
The price forecasting solution offered by SpendEdge’s experts helped the luxury car manufacturer devise an efficient price forecasting model. This helped them reduce the time allocated for information gathering and subsequently enabled the client to focus on devising effective pricing strategies. Furthermore, the developed price forecasting model enabled the client to improve business productivity by leveraging the use of valid predictions to enhance pricing decisions.
SpendEdge’s price forecasting strategies helped the client to:Gain detailed prediction of the short and long-term prices of various commodities Control costs and predict future earnings To know more about the price forecasting strategies followed by different firms,
The price forecasting engagement also offered predictive insights on:Pricing trends and proposed detailed price prediction of various commodities Establishing control points within the business to track financial performance Read the complete article to know more:
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