Supplier Identification and Profiling: How Supplier Selection can Help Improve Communication and Employee Scheduling Process
A simple challenging question that today’s advertising agencies are facing is identifying the right partner. With the availability of multiple options, identifying and targeting the right suppliers is like selecting a particular book from a heap of book collections. Organizations in the advertising space are focusing on targeting the right suppliers to promise better quality goods […]
A simple challenging question that today’s advertising agencies are facing is identifying the right partner. With the availability of multiple options, identifying and targeting the right suppliers is like selecting a particular book from a heap of book collections. Organizations in the advertising space are focusing on targeting the right suppliers to promise better quality goods and services. To select the best suppliers from a pool of options, organizations are resorting to a robust supplier selection process. The effective supplier selection process involves dealing with people, processes, and technology capabilities. Furthermore, identifying the right suppliers also helps leading businesses to reduce procurement and excess inventory costs.
With years of expertise in offering a plethora of services, Infiniti’s competitive intelligence experts help clients deliver promising supply process. Also, the solutions offered by Infiniti aid businesses in identifying the competitors, their supply chain process, and the effective ways to control spend and improve savings. Infiniti’s competitive intelligence experts further helped the client measure and optimize their supplier performance and evaluate the suppliers with respect to their value at risk.
A renowned advertising agency with a considerable number of offices across the globe was facing predicaments identifying and profiling the suppliers. The client wanted to implement a reliable system to analyze their capabilities and identify the right suppliers to enhance the communication process. The client also wanted to gain a comprehensive understanding of the supplier landscape to optimize the employee scheduling process. The client further wanted to identify and shortlist robust suppliers, profile key suppliers, and monitor prices of products.
To gauge more information into the supplier selection process, the client approached Infiniti’s team supplier profiling experts. Infiniti’s team with expertise in offering supplier selection services carried out an extensive research comprising of interviews and discussions with top leading advertisers in the market space. In addition, to compile more information about the best practices for supplier selection, the experts compiled information across various proprietary sources such as paid industry databases, company presentations, magazines, and newsletters across various advertising space.
Competitive Intelligence Solution Benefits:
- Understand the competitive landscape in terms of the competitors, their offerings, and product positioning
- Devise an effective product benchmarking and profiling in terms of financial performance, marketing spend, compensation and benefits
- Gain real-time insights into the competitor pricing, promotions, and inventory
- Effectively prepare for new product launches, new market entry or other strategic move
- Robustly anticipate and plan future market opportunities
- Minimize decision risk and reduce uncertainty
Benefits of Our Integrated Approach
In a span of six weeks, the client was able to gain a clear understanding of the suppliers and profile the suppliers based on price monitoring. The engagement also helped the client streamline their sources and procurement process and improve the company’s overall position in the market. The engagement also helped the client shortlist the major suppliers in the advertising space.