Accurate forecast of raw material prices, budgeting, and stringent control over inventory will aid in ensuring competitive prices
The chemical industry has a long and complex supply chain, and with globalization being the buzzword, the focus would be on easing bottlenecks
Growing regulatory stringency and amendments to regulation and policies governing the chemical industry have a huge financial impact.
Navigate supply chain disruptions, raw material shortages, and price fluctuations - some of the key concerns plaguing the industry
Sourcing raw materials in a cost-effective manner is a key challenge faced by the industry, and our experts can help you identify best-fit alternative suppliers
We can help you sail through stringent and ever-changing regulatory requirements, thus enabling faster new product introductions and reducing costs.
Deal more effectively with high cost pressures arising from ever-growing global competition with our suite of procurement advisory services.
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Challenge: The client’s procurement organization was mired in cost and time overruns, especially in its MRO sourcing. The key issue was lack of clear line of sight into indirect spend, and the client wanted to dial into the latest generation of AI and predictive tools to plug the spend leakage.
Solution: Our analysts performed a deep-dive analysis of the client’s current and past procurement metrics to find trends, patterns, and sequences with a focus on MRO sourcing. Based on these insights, our team reworked the client’s supplier consolidation strategy, eliminating gaps and optimizing the supplier base to prune maverick spend in a major way. Our purpose-built modules predicated on AI/ML will predict shifting spend patterns, going forward, with high accuracy.
Result: The chemical business has moved more of its MRO spend under management, thus saving scarce spend dollars and deepening relationships with supply-side participants.
Read More to see the spendedge blogsGathering data on your supplier’s capability to deliver high-quality products is just not enough. More open communication will ensure suppliers not only deliver with quality but also ahead of schedule.
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