LONDON--(BUSINESS WIRE)--SpendEdge, a global procurement intelligence advisory firm, has announced the release of their new ’supply market intelligence study on the food and beverage industry.’ A renowned player in the food and beverage space with multiple business units spread across the globe was finding it difficult to manage their sourcing and procurement processes, which in turn resulted in higher expenditures across the supply chain. The food and beverage sector client approached SpendEdge’s team of experts to gain a complete understanding of their competitors, products, services, and spending patterns to cut down on their direct and indirect spends. Also, the client wanted to gain insights on ways to enter into a superior contract negotiation with their current suppliers.
According to the procurement experts at SpendEdge, “The emergence of developing nations coupled with their population growth and increasing government regulations is impacting the growth of food and beverage manufacturing companies and their business strategies.”
In the food and beverage industry, leading firms are increasingly focusing on leveraging the use of supply market intelligence solutions to prioritize action plans and implement procurement best practices across their supply chain network. Also, leveraging supply market intelligence studies help food and beverage firms to develop superior product and service offerings while reducing procurement spends.
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The solutions offered by the team of experts at SpendEdge helped the food and beverage industry client in devising new sourcing strategies across their business units while establishing a centralized procurement process. The solutions provided included a detailed analysis of the supplier’s pricing and cost structure to devise a price model analysis. Additionally, a comprehensive SWOT analysis assisted the client in establishing a list of suppliers in terms of their business profile, revenue, and financial structure.
This supply market intelligence solution provided benefits that helped the client to:
- Identify the potential supply risks and enhance their procurement and sourcing operations
- Achieve an annual savings of $15 million
To know more, read the complete supply market intelligence case study here: https://www.spendedge.com/casestudy/food-and-beverage-industry-supply-market-intelligence
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SpendEdge shares your passion for driving sourcing and procurement excellence. We are a preferred procurement market intelligence partner for Fortune 500 firms and other leading companies across numerous industries. Our strength lies in delivering robust, real-time procurement market intelligence that helps sourcing and procurement professionals make informed decisions. These innovative procurement solutions help enterprises transform structural capabilities, improve execution efficiency, and fast-track time to savings.