SpendEdge, a well-known procurement intelligence solution provider, has announced the completion of their latest supply chain risk assessment study for a well-known company in the mining industry. The study highlights how companies can effectively manage supply chain risks, address economic unrest, and demand fluctuations. It also highlights the importance of supply chain risk assessment in reducing the production cycles and improving the production capacity for businesses.
Fluctuating commodity prices are compelling companies in the mining industry to invest in new programs and techniques that can enhance their efficiency significantly. Also, it is creating the need for enterprises to decrease disruptions in the supply chain and implement industry best practices. This requires companies to conduct a supply chain risk assessment and minimize the negative impact of disruptions on revenues, costs, and customers.
According to the procurement experts at SpendEdge, It is critical for businesses to have a resilient supply chain risk assessment process to minimize the negative impact of disruptions on revenues and customers.”
The Business Problem: The client is a well-established company in the mining industry and generates annual revenue of over $27 billion. Based out the United States, the company was planning to reduce production cycles without hindering their profitability. This compelled them to leverage SpendEdge’s supply chain risk assessment solutions to identify, monitor, and detect threats and ensure supply chain continuity. Moreover, they also wanted to collect, analyze, and manage supplier information, and employ advanced technologies to forecast potential risks.
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The Solution Offered: With the help of SpendEdges supply chain risk management solutions, the mining company gained detailed insights into how they could streamline their financial structure and allocate resources in an effective manner. The insights helped them analyze macro and micro-economic risks and enhance their productivity. The supply chain risk management solutions also helped the client gain better control over their supply chain activities and improve the overall ROI.
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SpendEdges supply chain risk management solutions helped the client to:
- Improve operational efficiency and production capacity.
- Decrease production cycles and maximize the ROI.
- Interested in analyzing supply chain risks for your business? Request a free demo and know how our portfolio of supply chain risk assessment services can help you with actionable insights.
SpendEdges supply chain risk management solutions also offered predictive insights on:
- Analyzing typical risks associated with the supply chain.
- Predicting the potential risks in terms of cost volatility, material shortages, and supplier financial issues.
- Read the complete article to know more: https://www.spendedge.com/casestudy/supply-chain-mining-industry
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