LONDON--(BUSINESS WIRE)--A thorough market assessment 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. Procurement intelligence firm, 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.
Cost Saving Opportunities for the Global Office Supplies Market
The shift of customers towards internet based shopping, along with the increase in online sales channels has made brick-and-mortar retailers to reduce the number of retail stores and increase their online presence to compete with online channels. The supply market is gradually shifting towards sustainable raw materials that have a low carbon footprint and are recycled or remanufactured from post-consumer products.
A leading company in the global office supplies market approached SpendEdge to help in accessing the market by analyzing the supplier market landscape to provide strategic and actionable insights. This supplier market intelligence study helps organizations gain a complete understanding of the market landscape in terms of pricing models, supplier intelligence, and category essentials by identifying areas of improvement.
Procurement Solutions Offered to a Leading Inbound Support Service Provider
A leading inbound support service provider approached SpendEdge to help them evaluate the suppliers’ technology and software integration, assess the proliferation of communication technologies, and determine staffing requirements. The primary objective of this procurement market intelligence study was to offer the client a holistic overview of procurement best practices and supplier market insights to allow them to exert better control over the service providers, manage expenses, and service quality better.
SpendEdge procurement market intelligence experts followed a blended research approach comprising of primary and secondary research methodologies, helping the client gain a clear understanding of the procurement best practices, supplier operational and functional capabilities, and category spend analysis.
Corporate Training Assessment for the Pharma Industry
The corporate training market worldwide is highly fragmented due to low entry barriers for new entrants; thereby, providing buyers with an advantage of bargaining power. Analysts have found that many companies in the pharmaceutical industry are facing challenges in transforming the procurement management system to be entirely strategic. There is a growing need to understand the best practices for improving supplier relationships, price negotiation strategies, and integrating suppliers with the organizational goals.
SpendEdge was recently asked by a pharma client to help them gain a better understanding of the supply market in the global corporate training services market. To do so, SpendEdge analysts referred to a vast database of secondary resources including industry journals and reports, internal databases, industry blogs, and category webinars to understand the latest market trends, pricing models, and supplier engagement models. Within four weeks’ time the client was able to better understand the global corporate training market in terms of cost saving opportunities, price negotiation strategies, demand-supply shifts, and suppliers’ data security and service capabilities.
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.