LONDON--(BUSINESS WIRE)--SpendEdge, a leading provider of procurement market intelligence solutions, has announced the completion of their latest success story on reducing inventory costs by 40% by accurately predicting demand for a company in the European steel industry.
The case study offers detailed insights into how SpendEdge's solution helped a company in the European steel industry to reduce inventory costs by 40% and maximize output with integrated sales production and procurement.
Our solutions can help you analyze different categories and take real-time decisions. Request free access to our procurement platform to gain instant access to 1000+ procurement reports.
Business Challenges: One of the largest firms in the European steel industry was facing revenue losses due to overproduction and a slump in demand. They lacked insights into the changing market scenarios in Europe. Redesigning supply chains, synchronizing procurement, logistics, and production schedules, therefore, became a challenge for them without dynamic demand forecasts.
“Companies in the European steel industry need to gain market insights to minimize overproduction and financial losses,” says Srinivas R, Procurement Manager at SpendEdge.
Want to know how SpendEdge can help your organization gain real-time updates to improve demand forecasts? Contact our support team now!
SpendEdge’s solutions helped the European steel company to:
- Optimize forecast-to-stock, order-to-cash, and procure-to-pay functions and prepare effective production schedules.
- Ensure optimal inventory levels to minimize inventory costs by 40%.
- Take real-time decisions and adapt quickly to the changing European steel market.
- SpendEdge's solutions help leading companies in the European steel industry to understand changing market landscape and devise competitive supply chain strategies. Wonder how? Request a free proposal to access our solution portfolio.
Outcome: The solutions offered by our experts helped the client to perform European steel industry analysis. This helped the client to generate actionable insights around crucial aspects of the supply chain and identify process-related bottlenecks. They were able to understand the price variation in the spot market and contract market. The insights offered further helped the client to optimize their steel spend and allocation. The report further enabled the client to re-allocate processing to low-cost producers in the value chain and devise effective supply chain strategies.
To gain detailed insights into the solution offered by our experts to the steel company in Europe, request more information.
You may also like:
- Global Iron Ore Market - Procurement Intelligence Report
- Should the Global Industry be Worried about the New Oil Price Forecast and What Should They Do to Survive in the Tumultuous Crude Oil Market
- Strategic Sourcing Analysis Helps a Steel Industry Client Streamline Their Sourcing and Procurement Efforts
SpendEdge shares your passion for driving sourcing and procurement excellence. We are the preferred procurement market intelligence partner for 120+ Fortune 500 firms and other leading companies across numerous industries. Our strength lies in delivering robust, real-time procurement market intelligence reports and solutions.
Want to gain detailed insights? We’re here to help you out! Tell us more about your business challenges.