LONDON--(BUSINESS WIRE)--Feb 6, 2019--SpendEdge, a well-known procurement intelligence solution provider, has announced the completion of their latest supply chain risk assessment study for a company in the food industry. The study highlights how changing customer demands require companies to understand millennial preferences and employ new strategies to survive in the competitive market. It also gives a detailed overview of how supply risk assessment process can address risks occurring in the organization’s value chain.
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Supply chain risk assessment study for a company in the food industry. (Graphic: Business Wire)
The demand for healthy ingredients, complex flavor profiles, and environmentally sustainable offerings among consumers are some of the new trends in the . These trends are creating challenges for companies in the food industry and are compelling them to employ key technologies and acquisition strategies to meet the changing customer needs. Not only this, companies are forced to identify security vulnerabilities, justify spending, improve planning and boost their productivity. This has necessitated organizations to address potential risks and gain a competitive edge in the marketplace.
According to the procurement experts at SpendEdge, “Supply chain risk assessment services are vital for organizations to identify, monitor, and address potential risks to minimize the negative impact they may have on an organization’s supply chain."
The Business Problem:The client is a leading company in the food industry with annual revenue of over $13 billion. Despite being a global leader, the company was facing several challenges due to their inefficient supply chain risk management strategies. They wanted to minimize the loses occurring due to the risks in the supply chain. They were also finding ways to improve the efficiency of their overall supply chain operations and manage both short and long-term supply chain risks. Such needs compelled the client to leverage SpendEdge's supply risk assessment process and devise an effective framework for their business.
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The Solution Offered:The experts at SpendEdge offered actionable insights that helped the client to enhance their risk assessment process and devise an effective risk management strategy. The risk assessment process improved the overall supply chain performance of the food industry company and offered detailed insights needed for understanding market scenarios. This approach helped the client to identify risk factors in their external and internal supply chain networks, enhance supplier negotiation strategies and develop a precise risk assessment framework.
Companies need effective risk management strategies to enhance the overall performance of their supply chain. To know how you can implement such strategies for the benefit of your organization,
SpendEdge’s supply chain risk assessment process helped the client to:
Minimize the cost of maintaining supplier data.Devise an effective risk assessment framework.Still wondering how a supply chain risk assessment process can help your company?
and know how our portfolio of supply chain risk assessment solutions can help your organization.
SpendEdge’s supply chain risk assessment process also offered predictive insights on:
Analyzing supplier negotiation strategies, industry standards, and expectations.Identifying demand risks, operational risks, supply risks, and economic crises in their supply chain networks.Read the complete article to know more:
About 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. To know more,
View source version on businesswire.com:https://www.businesswire.com/news/home/20190206005543/en/
CONTACT: SpendEdge
Anirban Choudhury
Marketing Manager
US: +1 630 984 7340
UK: +44 148 459 9299
https://www.spendedge.com/contact-us
KEYWORD:
INDUSTRY KEYWORD: RETAIL FOOD/BEVERAGE
SOURCE: SpendEdge
Copyright Business Wire 2019.
PUB: 02/06/2019 11:52 AM/DISC: 02/06/2019 11:52 AM
http://www.businesswire.com/news/home/20190206005543/en
