SpendEdge, a leading provider of procurement market intelligence solutions, has announced the completion of their latest success story on reducing production and distribution costs by 40% for a tire manufacturer.
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Engagement background
The company wanted to achieve financial savings while addressing key challenges related to production, sales, and market competition. The key objectives they aimed to achieve through this engagement are mentioned below:
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Objective 1: The company wanted to minimize raw materials costs and reduce distribution costs to increase their profit margins.
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Objective 2: They also wanted to obtain comprehensive insights into customer data and vehicle data to improve their process efficiency and maintain service levels.
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Wondering how you can address market competition and lower raw material costs? Request a proposal today and our experts will get back to you with smart procurement solution.
“Since the demand for tires is expected to stagnate due to slow growth rate in the automotive sector, companies need to find ways to address downward pressure and manage raw material costs,” says Srinivas R, Procurement Manager at SpendEdge.
Want to conduct comprehensive tire industry analysis to identify cost-saving opportunities? Get in touch with our experts today!
Key findings and solutions offered
In collaboration with SpendEdge, the client – a leading company in Canadian tire industry – developed a procurement roadmap and gained vital insights into price fluctuations and demand. The solution offered helped them to:
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Develop a robust pricing structure while maintaining quality service levels.
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Improve process efficiency and realize cost savings from purchases.
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Developing an effective procurement roadmap requires access to detailed market insights. Request a free demo to access our ready-to-use market intelligence reports now!
Outcome: SpendEdge's comprehensive tire industry report helped the client to identify markets where the legislation laws were strict regarding the use of part worn sales. This helped the client to focus on labeling and promoting tires effectively. Our spend analysis and price forecasting solution offered further helped the client to develop an effective spend strategy and identify savings opportunities. They were better able to analyze price trends and fluctuations at the global level and determine the potential impact on costs of raw material sourcing. This reduced production and distribution costs by 40%.
To gain detailed insights into the solution offered by our experts to the tire 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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