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
- 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.
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Ankur Gupta, Head Marketing & Communications