Sep 5, 2019   SOURCE: BusinessWire

Reducing Supply Chain Costs by Developing Effective Sourcing and Procurement Strategies for an Auto Parts Manufacturing Firm | SpendEdge’s Industry Best Practices Benchmarking Analysis

SpendEdge, a leading provider of procurement market intelligence solutions, has announced the completion of their latest success story on conducting industry best practices benchmarking analysis for an auto parts manufacturer.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190905005691/en/

Engagement background

The company wanted to identify peer group companies and analyze their sourcing strategies to increase their market share in the auto parts sector. The key objectives they aimed to achieve through this engagement are mentioned below:

  • Objective 1: The company wanted to assess key suppliers and develop sourcing and procurement strategies to minimize their costs across the supply chain.
  • Objective 2: They also wanted to perform a benchmarking analysis to identify superior approaches to innovation.
  • Wondering how you can perform competitor benchmarking analysis and adopt sourcing and procurement best practices? Request a proposal today and our experts will get back to you within two working days.

“Since the auto parts industry is witnessing sluggish growth due to increasing competition, companies must start performing industry best practices benchmarking analysis to stay ahead of the curve,” says Srinivas R, Procurement Manager at SpendEdge.

Want to conduct comprehensive industry best practices benchmarking analysis? Get in touch with our experts today!

Key findings and solutions offered

In collaboration with SpendEdge, the client – one of the leading auto parts manufacturing company – developed various skill sets and established themselves as leaders in the automotive market. The solution offered helped them to:

  • Identify and abandon inefficient and unproductive processes across platforms.
  • Develop effective sourcing and procurement strategy and reduce supply chain costs.
  • Improving the sourcing and procurement process requires access to granular insights. Request a free demo to access our ready-to-use market intelligence reports now!

Outcome: To cater to the specific category requirements of the auto parts manufacturing firm, SpendEdge's benchmarking analysis experts identified competitor group companies. They assessed key suppliers in the market space and analyzed their sourcing and procurement best practices. This helped them to improve their procurement efficiency and gain necessary insights into the best practices for innovation. Our services also helped the client to develop a scalable, lean, and best-in-class sourcing and procurement strategy and reduce cost across the supply chain.

To gain detailed insights into the benchmarking analysis solution offered by our experts to the auto parts manufacturer, request more information.

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About SpendEdge:

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.

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