NEW YORK, Aug. 9, 2023 /PRNewswire/ — SpendEdge, a global leader in procurement market intelligence space recently engaged with an automotive company as they were facing risks like component shortages and rise in supplier prices.
The company was struggling with the lack of resilient supply lines, increased costs due to a rise in supplier price, and stoppage of production owing to component shortages.
Game-Changing Solutions:
After understanding the extent of the client’s challenges, the SpendEdge team of procurement experts decided to carefully study the intricacies of each requirement carefully and create bespoke solution to suit the scope of the client’s business model.
SpendEdge experts provided the company with insight into supplier market developments and by implementing changes in accordance with it helped them gain resilient supply lines. The experts’ supplier cost reporting assisted as a negotiating chip with suppliers and through their cost model the company was able to predict the market price fluctuations. The experts’ intelligence reports enabled monitoring of the performance of suppliers for the company so they could shortlist the best-fit suppliers who ensure on-time deliveries.
The company was able to achieve great success with the aid of SpendEdge expertise and intelligence.
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About SpendEdge:
SpendEdge is a global leader in procurement market intelligence space acts as strategic partner to over 200 global procurement organizations delivering insights on category landscape, supplier identification, negotiation strategies, price benchmarking, cost modeling, sustainability practices, and more.
Over the past 2 decades, SpendEdge has worked with procurement organizations across regions, of varying sizes and belonging to several industries. They have helped their clients solve procurement problems of varying complexities. Going above and beyond, the organization heads to the best possible extent using different methodologies to deliver timely and actionable recommendations to support decision making.
SOURCE SpendEdge
