LONDON — (BUSINESS WIRE) — December 10, 2018 — SpendEdge, a well-known procurement intelligence solution provider, has announced the completion of their cost benefit analysis study for a manufacturing industry firm. The client is a leading OEM parts manufacturer with operations spread across Europe, North America, Russia, and South Africa. With industry dynamism and acquisitions resulting in a fragmented supply base and losses, the client realized the need to leverage a cost benefit analysis strategy to devise the most cost-effective blend of countermeasures to tackle the challenges in the market.
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Cost benefit analysis study for a manufacturing industry firm (Graphic: Business Wire)
It is imperative for financial services providers to analyze cost and inventories in today’s competitive scenario. Moreover, as businesses grow, their sourcing needs become more compact, making it a necessity to analyze delivery times, maverick spends, and cost elements across the supply chain. Cost benefit analysis helps firms make the best use of the suppliers and their capabilities.
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According to the procurement experts at SpendEdge, “In any manufacturing segment, cost benefit analysis is advantageous, simply because they simplify complex business decisions."
With the help of SpendEdge's cost benefit analysis strategy, the OEM parts manufacturer was able to evaluate the strengths and weaknesses related to organizational spend. This helped them uncover major opportunities for improving their sourcing strategies by regulating their indirect and direct spend. This subsequently offered the client with a realistic assessment of the spend management capabilities of the OEM parts companies. Additionally, the cost benefit analysis helped them optimize their spend management capabilities and develop superior negotiation strategies.
To know more about the complete scope of this engagement and the real benefits of cost benefit analysis for businesses, request a proposal
SpendEdge’s cost benefit analysis engagement helped the client to:
- Reduce costs associated with supply chain activities by comprehending the cost structure at various organizational levels
- Identify the appropriate cost model for effective price forecasting
- To know more about the cost benefit analysis strategies followed by different firms, Talk to an analyst
The cost benefit analysis engagement also offered predictive insights on:
- Controlling indirect costs and mitigating potential losses
- Determining the best approach to achieve maximum benefits while improving overall savings
- Read the complete article to know more: https://www.spendedge.com/casestudy/cost-benefit-analysis-oem-parts
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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. To know more, https://www.spendedge.com/request-free-proposal
View source version on businesswire.com: https://www.businesswire.com/news/home/20181210005412/en/
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