LONDON--(BUSINESS WIRE)--A thorough understanding of cost modeling is essential for achieving cost-effectiveness at every phase of operations being carried out in a business. By knowing the market, including prices, trends, and potential risks, it is possible to achieve considerable cost savings and seize new opportunities. SpendEdge recently completed several procurement market intelligence studies for prominent organizations, allowing those companies to familiarize themselves with the cost factors involved in the organization’s operations and improve their decision-making processes.
View SpendEdge’s list of top cost modeling benefits
Cost Saving Opportunities for the Tank Manufacturing Industry
A leading molten salt tank manufacturer approached SpendEdge wanting insights into procurement market analysis, identification of cost categories, and assessment of cost impact of individual components to improve profit margins and identify opportunities for cost reduction. Also, the client wanted to get an in-depth understanding of the supplier market landscape, pricing models, and key market drivers.
The assessment carried out consisted of a blended research methodology consisting of primary and secondary research based on quantitative and qualitative data analysis. This study will help organizations gain deep insights into the suppliers’ operational and functional capabilities, suppliers’ evaluation and selection criteria, pricing models, and best-in-class procurement practices.
Cost Modeling Assessment for IT Temporary Staffing Services
A leading conglomerate in Europe approached SpendEdge to better understand the cost structure of leading IT temporary staffing service providers. The goal of the study was to gain visibility on supplier cost structure, key cost drivers, and cost saving aspects of procurement. SpendEdge could counter the challenge by help of its vast database.
With the help of its vast database of secondary research resources, highly experienced analysts, and critical inputs gained from industry experts, this study helps organizations in the industry to identify cost drivers and potential cost saving opportunities. This study provides a comprehensive overview of the cost model and key cost drivers such as increase in payroll taxes and complexity of services and reduced dependence on physical offices for service delivery.
Procurement Solutions for Mobility Service Providers
Mobility service providers offer all-inclusive services for re-locations including packing, loading, moving, unloading, unpacking, arranging of items to be shifted, and value-adds such as visa and immigration, insurance, employee, storage, repatriation assistance, and accommodation services. A leading mobility service provider for household goods approached SpendEdge for gaining insights into procurement market analysis in terms of procurement best practices, pricing models, and key cost drivers in the industry.
SpendEdge analysts followed a three-step research process which included establishment of cost elements mentioned in the annual reports provided by the listed suppliers, followed by extensive secondary research to understand the percentage break for each cost element within the overall cost structure. The study helps firms gain a stronger understanding of supplier selection and evaluation criteria and insights that can lead to optimization of category spends.
In addition to these three studies, SpendEdge has recently released their ‘Top 10 Procurement Trends for 2107’. Procurement is quickly evolving in response to changes and advancements in technology, personnel and hiring requirements, consumer demands and concerns, and business practices. SpendEdge wanted to share these trends to help companies ensure competitiveness and cope with emerging demands.
View the list of top 10 procurement trends for 2017 from SpendEdge.
SpendEdge shares your passion for driving sourcing and procurement excellence. We are a preferred market intelligence partner for Fortune 500 firms and other leading companies across industries. Our strength lies in delivering actionable insights that help sourcing and procurement professionals get the right information in the right format, without any unnecessary frills. For more information on SpendEdge’s services, please contact us.