Procurement market research is the procedure of in-depth study and analysis that comprises defining the precise requirement and measuring the most appropriate acquisition approach for procurement.
The term ‘procurement’ though
often utilized arbitrarily with ‘purchase’ is a completely dissimilar and
systematic procedure that comprise sourcing and purchasing goods and services
from an external source, such as a third-party vendor or supplier as opposed to
direct buy. In that regard, procurement market intelligence acts as an
appropriate precursor to purchasing.
Some of the foremost activities
that procurement encompasses include:
·
Supplier
Identification
·
Supplier
Shortlisting for RFP Process
·
NDA Approval
& Technical Documentation
·
Detailed RFP
Process
·
Supplier
Evaluation & Recommendations
Ken Research’s Procurement and
Supply Chain Intelligence support the procurement teams globally, to succeed
fast evolving supply-demand situations, disorderly trends, consolidating
assorted information sources with an objective of streamlining supply chain
dynamics for entities. Also, our company delivers the Best Cost Country Sourcing Model for its
client to ease down the progression of procurement and enable the client to
intensification its profitability in the business.
Our company meticulously works
with the team of our clients and support them with a tailor made solution which
will empower them to address specific client issues, perspectives and budgets.
Our company has a forte in directing
the Manufacturing Procurement Research coupled with the end-user segments and
the accessibility of suppliers across various geographies. The procurement
strategy espoused by our company in the manufacturing sector benefits the
client by suggesting countless strategies such as Raw Material Sourcing
Strategy and Raw Material Supplier Evaluation which will afford the industrial equipment
manufacturers to have a number of occasions to increase their profit margins
and accomplish improved cost savings through optimized procurement in the
manufacturing industry.
Our effective management of
procurement will allow an organization to subordinate costs by procuring
supplies, services, and contracts at the best price. Proper procurement
management also allows company to make the most of warranties or discounts that
are often elapsed. Additionally, an effective purchasing procedure will deliver
your organization better conspicuousness into the organization’s budget and how
company funds are spent. This enables a business to have the choice of
leveraging additional cash flow by encompassing payment terms and supporting
the business owners review for the future.
For instance, owing to stiff
competition that businesses face, business owners pursue any competitive edge
they can obtain to make their products or services better. An effective
procurement procedure allows a company to look for ground-breaking products or
services that they can suggests the consumers. When this happens, the business
may also be able to protected exclusive deals with the suppliers.
Moreover, our effective supplier
commodity dashboard enables an organization to choose an optimal portfolio
of suppliers and bring into line those suppliers to the organization’s mission
statement. This can be done via favourable terms and encourages and incubates
collaboration through the cross-functional brilliance.
An efficient and effective procurement and supply chain intelligence can provide
the quick but tangible cost improvement and improve the agility of the supply
chain. Therefore, a well-defined procurement procedure can deliver your
organization a competitive advantage by decreasing costs across the value
chain; causing higher efficiency in the delivery of quality goods and services;
helping with product innovation; mitigating supplier risk; and growing supply
chain resiliency.
Ken Research benefits the
companies and its clients who are majorly watching for Procurement Plans and
edifice to choose significant entities such as
- Sellers
- Goods and Services
- Several Methods and Tactics throughout the
interactions with providers.
Our company bargains various
procurement programmes such as Chemical Industry procurement Intelligence to
its trades and other companies functioning in the market. Few of the
procurement analytics programmes denote to Category Diagnostic, Supplier
Benchmarking, Procurement Analytics, Risk Analytics, Support Services and
Others. However, in the Manufacturing Procurement Research analytics is being
further characterized into various key sectors such as Raw Material Cost Model,
Substitute Analysis, vertical integration market model, Category
Dashboard, Market Price Forecast Model, and countless others.
Ken Research supports its clients
in automotive, metals and packaging industry by suggesting the several
strategic and tactical negotiation levers through their report to assistance
buyers achieve the unsurpassed prices for automotive gears by approving the
Automotive Procurement Intelligence. The research report also aids buyers with
applicable automotive gears pricing levels, cost-plus pricing, and fixed price
and best performs to accomplish their category objectives.
Not only has this, our company
also bid a targeted strategic tactic to through Metals Procurement Intelligence
through which it unlocks numerous opportunities for buyers in the Metal
segment. On the other hand, the company also suggests a vast experience in
terms of supplier satisfaction surveys as it has great numbers of
analysts which are being place across the globe. The aligning of the analyst
across the globe delivers an added benefit to the firms and clients that we are
always functioning and never close for them. Also, our company delivers a
network of industry experts which further propels the clients.
On the other hand, Ken Research
also suggests the client support in Supply Chain Practice and solutions as well; as
the entity has a huge employee base of analysts at its place across the globe
which allows them to suggests an added advantage to its clients that the
company is 24hrs functioning and always ready to take query of its client and
helps them in helping all sorts of manners available to them.
Therefore, a client can seek for
the best result driven projects through Ken Research and can effortlessly over
power the job to our end. Some of the foremost solutions which have been
offered by our company comprise category diagnosis, supplier benchmarking,
procurement analytics, risk analytics, support services and several more. Also,
our company provides its knowledge in foremost sectors such as Metal and
Alloys, Plastics and Composites, Agro Commodities, Energy and Utilities,
Engineering and Construction, Flexible Packaging Industry and procedure
Speciality, Logistics and Warehousing, Pharma Material and Formulations, and
numerous more.
Related
Reports
Procurement
Market Research- Increasing practice of effective procurement strategies
driving overall profitability of the business
Rise in Companies Financial Profitability by
Applying Effective Procurement Strategic Intelligence
Improve Profitability of Business through Adopting
Effective Supply Chain Practice and Solution
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Ken Research
Ankur Gupta, Head Marketing &
Communications
support@kenresearch.com
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