The Future of Agrochemicals Procurement: Challenges and Solutions

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Sep 06, 2023, 18:00 ET

How SpendEdge Helped One of its Agrochemical Clients

NEW YORK, Sept. 6, 2023 /PRNewswire/ -- SpendEdge, a global leader in procurement market intelligence space recently connected with a UK-based agrochemical company was dealing with the problem of high procurement costs due to the increase in the prices of chemical intermediaries.

The procurement process in the agrochemicals industry has been facing a number of challenges lately. As a result, agrochemical companies have identified the need to implement innovative strategies to address these challenges. Not only was this impacting the COGS, but it was also resulting in production delays

Game-Changing Solutions:

After understanding the extent of the client's challenges, the SpendEdge team of procurement experts decided to carefully study the intricacies of each requirement and create bespoke solution to suit the scope of the client's business model.

As per the procurement leader, their analysts determined that the reason behind increasing procurement costs was the high prices of the solvents used in the production of agrochemicals. They provided the client with information about suppliers who charge competitive prices for the chemicals while ensuring quality service throughout the supplier-purchaser relationship.

The client was able to identify a new supplier who could fulfill their solvent demand at a reasonable price while ensuring all the SLAs are met. The recommendations provided by the analysts aided the client in decreasing the procurement costs effectively.

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About SpendEdge:

SpendEdge is a global leader in procurement market intelligence space acts as strategic partner to over 200 global procurement organizations delivering insights on category landscape, supplier identification, negotiation strategies, price benchmarking, cost modeling, sustainability practices, and more.

Over the past 2 decades, SpendEdge has worked with procurement organizations across regions, of varying sizes and belonging to several industries. They have helped their clients solve procurement problems of varying complexities. Going above and beyond, the organization heads to the best possible extent using different methodologies to deliver timely and actionable recommendations to support decision making.

SOURCE SpendEdge