Procurement majorly refers to a process of locating and obtaining the services or products for business. Procurement Market Research majorly helps in the actual buying and also for the entire process that leads up to the purchase for a company. Procurement is an inevitable aspect of all profitmaking organizations. Firms mostly opt for procurement to operate and aid the growth of the company along with optimizing the performance.
Since, majority of the companies procure various goods and services from external suppliers in the market. Therefore, companies aims to harness the power of globalization, they majorly prefers to work with the best local suppliers at the best possible price point which tends to rely on Procurement and Supply Chain Intelligence.
Ken Research helps companies and its clients who are majorly looking for Procurement Plans and structure to choose substantial entities for Supply Chain Practice and solutions:
- Vendors Selection
- Products Selection
- Several Approaches and Strategies during interactions with Service Providers.
- Payment Negotiation
- Contract Negotiation
- Final Purchase of Goods
Therefore, Ken Research helps in the process of procurement which aids in identification and implementation of certain steps by businesses to safeguard by offering the Market Supplier Risk Profile through which companies can acquire goods and services to meet their requirements and achieve their company’s profitability goals.
A procurement process is highly significant as it have a direct impact on business profitability. Therefore, majority of the businesses opts for Raw Material Pricing Analysis to procure the raw materials for their products by selecting the procurement process regularly, to ensure that their goals are being achieved. Companies can make changes in the process when a particular process is not resulting into profitability as planned for the business.
Ken Research provides the 24hours assistance to its clients, also our company has a huge multilingual capabilities with analysts having proficiencies in speaking more than ten languages which helps foreign clients to provide them assistance in their native language and adds further advantage to client’s requests. Presently, Ken Research have more than ten thousand plus repository of projects in terms of Manufacturing Procurement Research along with that more than twenty thousand plus network Industry experts which are there to help our clients via offering Food and Beverage Procurement Research to provide best strategy to the clients and increase their company’s productivity along with the profitability.
Ken Research also provide Automotive Procurement Intelligence service to its clients, in this we largely provide a display tool to our clients that helps them to assess their suppliers against an agreed set of criteria for both ongoing and concluded contracts. This system can be arranged and configured for the Metals Procurement Intelligence as well by setting the default standards enabled cross-community comparison of suppliers, and include majorly quality of the product, documentation and business ethics. This enables each supplier’s score can be stored and can be taken for a reference in the near future to help track changes and trends of the respective supplier’s performance or to gauge multiple suppliers at the same time through the Performance feedback Benchmarking tool.
Company has huge expertise in Agro Commodities Procurement Intelligence as our company assists its clients in each and every steps followed for the raw material supplier evaluation process such as reviewing the team members, compliance with respect to manufacturing, assurance of the quality of the material so that it should not impact the end products quality along with that we also helps in validating and doing technical analysis of the services offered, therefore to avoid any miss use of the product and to maintain the viability and quality of the product.
Also, our company offer a targeted strategic approach to its clients through Packaging Industry Procurement Intelligence which it unlocks several opportunities for buyers in the all the segments related to packaging. Therefore, a client can seek for the best result driven projects by getting our procurement reports and can easily relax as the job will be done by our end.
Ken Research also has a separate client tail base which majorly deals in the chemicals industry and largely required the Chemical Industry procurement Intelligence as the customers often encounters trouble in procuring the right raw materials of the right quality at the right price, in which our company provides the utmost assistance to its clients. Moreover, in case of specialty chemicals, the purchasing expenditure can go as high as more than the half of the amount of what is gained as sales revenue. Therefore, our company helps the customers in deciding the pricing of the product as it is a highly volatile aspect in the global chemicals industry, which makes it more important for stakeholders to adopt the right procurement intelligence solutions.
Currently, many of the chemicals companies have hired our company’s procurement managers to build an agile purchasing strategy and we offer our clients the procurement intelligence to improve their overall sales plan. We help our customers by segmenting the entire process of purchasing on the basis of value and strategic importance, so that the players in the chemicals industry can capture majority of the share in the market and beat the competition and become the industry leaders. In addition to this, we also provide clients by best employing purchase optimization tools, which further removes and helps clients to overcome traditional roadblocks in the industry.
Consequently, the major sectors and categories in which our company provides procurement services include Metal and Alloys, Plastics and Composites, Agro Commodities, Energy and Utilities, Engineering and Construction, Flexible Packaging Industry and Process Speciality, Logistics and Warehousing, Pharma Material and Formulations, and many more. Furthermore, it would not be wrong to say that the right procurement strategy adopted by the clients will surely bring a huge difference in the purchasing plan of the company as it will offer them best output at the minimal cost involved. As per analysis, companies can easily bring down the overall spending by up to 15-20% and boost their earnings annually.
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Ankur Gupta, Head Marketing & Communications