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Nature of Business
Service ProviderCorporate Strategy
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Sourcing Service Specialist helps clients re-calibrate and tune their business strategies to effectively compete and grow in the dynamic business environment. Our services are customized in relation of the client and project requirements, thereby providing relevant and actionable insights and not merely surface-level information.
We endeavor to provide the most comprehensive set to support services to assist and strengthen business-critical strategic functions and implement impactful decisions supporting business growth. Our team functions not as an external knowledge services provider, but as an extension of your internal strategy team.The Corporate Strategy function covers the following aspects:
- New Market/Business Opportunity Evaluation
- Market Sizing, Industry and Sector Analysis
- Market Entry and Growth Strategy
- Sales and Marketing Strategy
- Feasibility Study (Make/Buy)
- Acquisition target screening
- Commercial Due Diligence
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Marketing Strategy
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A well-developed marketing strategy underlines business's goals and builds a strong reputation. It helps identify the target audience and channel efforts to devise plans for gaining a formidable market share.
In the ever dynamic and increasingly competitive business environment, there is an incessant need to modify existing marketing campaigns and product strategies to match persistently changing customer preferences, thereby staying ahead of competition. This necessitates constant generation and evaluation insights on consumers and competitors, making research an essential part of your marketing strategy. Sourcing Service Specialist provides the required ‘eye on the market’ to keep you updated of any changes, to ensure that the marketing strategy remains relevant and targeted.
We gather the required information about your market, such as its size, growth, social trends and demographics (population statistics such as age, gender and family type), to draw relevant insights pertaining to detecting new target segments, evaluating consumer behavior, and analyzing brand perception. Our experienced team of researchers has worked on diverse industries and is adeptly conversant with primary and secondary research techniques, and marketing and social media analytics to deliver concrete results.
The Marketing Strategy function covers the following aspects:
- Market size and estimation
- Market entry options
- Target customer segment identification
- Marketing analytics
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Supplier Market Assessment
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Sourcing Service Specialist experienced teams leverage their strong secondary and primary research skills to gather qualitative and insightful information about the supplier landscape. Our reports provide information that is critical to developing effective procurement strategies, in the context of planning for significant procurement. We leverage the skill and expertise of our procurement teams to provide our clients with the strategic understanding of:
- How a market works
- The direction in which a market is heading
- The competitiveness of a market
- The capability and capacity of a market
- Key suppliers and the value that suppliers place on the agency as a customer
- How suppliers or markets can be developed to better meet agency requirements
- The sustainability performance and capability of the market
- How to manage variances in pricing over time or between suppliers
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Supplier Risk Assessment
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Detailed risk analysis requires assessment of suppliers in terms of financial robustness and long-term business competitiveness. Essentially a supplier should fortify client’s capabilities, and possess the required financial strength to withstand any financial turmoil and augment competitive advantage in the long-term. It is, therefore, our endeavor to provide clients with sufficient data points regarding their supplier base. We assess supplier’s business stability and financial strength to support client requirements substantiated through a scoring mechanism based on qualitative and quantitative factors.
Today’s global and complex procurement models, which have thousands of suppliers associated with the organization, make it extremely difficult to identify risks, let alone mitigate them. Sourcing Service Specialist expert teams work towards identifying these risks by conducting a comprehensive, organization-wide risk assessment to determine what can go wrong thereby mapping the business stability of the supplier.
The assessment is done using various metrics, multiple sources of inputs, and augmented, data analysis to get an accurate picture of the current situation. The risks are then scored and prioritized, based on their likelihood of occurrence and potential impact on business. The process involves a combination of in-depth primary and secondary research capabilities with rigorous financial and quantitative research methods – the end product is insightful, real time and predictive in nature. Sourcing Service Specialist approach towards third-party risk management ensures that your organization is capable of handling any business uncertainties effectively.
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RFX Process Management
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Strategic Sourcing
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Our delivery approach is flexible at its core. We configure solutions to suit your specific goals, ranging from multi-year programs to achieve specific savings targets, to short-term, category-specific engagements where you want to shore up in-house expertise. Our process develops a secure and responsive supply base that is capable of providing quality, cost efficiency, innovative technologies, flexibility and services to meet the current as well as future business needs of the clients. We have strategic sourcing solutions for businesses of all sizes, including the small to mid-market.
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Spend Analytics
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We provide in-depth analysis of the overall spend of an organization to identify the key focus areas to reduce costs. This analysis facilitates sourcing performance, reduces maverick spend, increases compliance and generates savings. Sourcing Service Specialist spend analysis provides the clients with aggregated spends by commodity, supplier, category and current contract costs with methods to consolidate, clean and classify spend data across multiple departments, systems and multiple corporate locations. Our spend analytics services transcend traditional automated solutions by integrating analyst and category intelligence into the Insight development process. We highlight not only the synopsis of your organization in terms of specific category performance, but also how it stacks up against best-in-class category management practices.
We deliver this work through a specialist analyst team that has rigorous data analytics capabilities, backed by strong primary and secondary research skills. The result is comprehensive category intelligence that is based on a blend of qualitative and quantitative analysis, and guided by deep category intelligence and insight.
The spend analysis answers questions such as:- How much are we buying for?
- What are we buying?
- From whom do we buy it?
- How do we buy it?
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Competitive Insights
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Sourcing Service Specialist team provides a comprehensive set of competitive intelligence services. We equip clients with complete insights on competitive developments, pricing, positioning and performance. We perform in-depth analysis of the peer set and provide valuable information for revising business strategy to always have an edge over competition.
The Competitive Insights function covers the following aspects:
- Evaluation of competitive strategy
- Competitive benchmarking
- Peer monitoring and evaluation
- Custom competitive analysis
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