SpendEdge, a well-known procurement intelligence solution provider, has announced the completion of their latest PESTLE analysis engagement study for a sportswear manufacturing company. The report highlights how various political, social, and economic factors can impact the growth of businesses. It also provides detailed insights on how conducting a PESTLE analysis can help companies to devise effective strategies and maintain a steady growth rate.
The rapidly evolving political, economic, social, and technological scenarios have compelled companies across the globe to conduct a comprehensive PESTLE analysis before implementing any business strategy. It helps companies to identify and respond to the changes in the macro environment and differentiate themselves from the competition. If conducted in regular stages, PESTLE analysis can play a decisive role in determining sourcing opportunities and reducing excess spend for companies.
According to the procurement experts at SpendEdge, Companies must regularly conduct PESTLE analysis before implementing any tactical plan to maintain steady growth rate and gain a competitive edge in the market.”
The Business Problem: Despite being one of the leading sportswear manufacturing companies in Europe, the client was facing difficulties in managing risks and changes in political policies. These changes were negatively impacting their revenues and delaying the delivery of their products in the market. This compelled the client to leverage SpendEdges expertise and analyze the factors affecting the growth of their business. Additionally, they wanted detailed insights on the tax system and strategies needed to promote their products in Islamic countries.
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The Solution Offered: The procurement experts at SpendEdge conducted in-depth research and developed a PESTLE analysis template that gave a detailed analysis of the socio-economic factors impacting their business. This helped the sportswear manufacturing company to analyze the capabilities of the suppliers and boost their sourcing process. The enhanced sourcing process improved the company’s delivery system and provided vital insights on factors such as inflation, per-capita income, and taxation.
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SpendEdges PESTLE analysis engagement helped the client to:
- Obtain an annual savings of over $6 million.
- Improve delivery time and brand image.
- Want to know how implementing procurement best practices can help your organization reduce sourcing costs? Request a free demo now!
SpendEdges PESTLE analysis engagement also offered predictive insights on:
- Determining the purchasing habits of customers.
- Analyzing the potential in Islamic countries.
- Read the complete article to know more: https://www.spendedge.com/casestudy/pestle-analysis-helped-sportswear-manufacturer-manage-risks-achieve-savings-6-million
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