Low Cost Country Sourcing Drives Growth and Savings

The evolving consumer demands, and the fierce competition globally are compelling organisations to reconsider their sourcing strategies. They seek the best quality services at the lowest costs from their suppliers. One of the strategies is low cost country sourcing. Choosing the right consultant services will give a big boost to the organisation's business objectives. They analyse and plan well-defined strategies and implement them keeping in consideration, how the plan will impact and help the client achieve their long-term goals.

Why low cost country sourcing (LCCS)

LCCS can drive in anything between 20% to 40% cost savings on the landed costs. This is because sourcing of raw material and other initial resources are done from the emerging markets.

India is the fastest growing economy and the most preferred destination for sourcing. Low cost country sourcing in India has received momentum because of various reasons that include

*  Low labour costs

* Abundance in talent both skilled and unskilled

* Government initiatives like Digital India, Make in India, Skill India etc.

* Big market and strong development in technology

* No language barrier with use of English in a big way

* Liberal taxation policies

The LCCS countries are a hub for the best procurement costs. India leads them all having gained preference over China and others by global organisations. 

Read More

Transfer of Knowledge and Efficiency Through Procurement Outsource Services India

Outsourcing procurement is an important strategy for most organisations as it helps achieve a reduction in spend and improves cost savings. The procurement outsource services India brings in their expertise and market intelligence to help the companies transform their procurement process while delivering concrete results.

Benefits of outsourcing:

Subcontracting procurement to a professional service will lead to a significant improvement in the procurement exercise and eliminate the need to create a separate division or invest in resources to manage the spend.

The specialists will work within your organisation. They analyse your existing capacity and potentiality, build a new procurement strategy, assess the system and usher in new technology to improve delivery.

You will soon discover agility, substantial improvement in cost-savings, efficiency, sustainability, and long-term gains.  Your team will witness a dramatic change in the approach toward procurement.
Group purchasing

The procurement outsource services India negotiates and finalises services in bulk from the vendors and suppliers for multiple clients. Your organisation can access services and goods at discounted prices lower than the market price
.
Customised model:

 If you have budget constraints, you may outsource critical services to the specialists. They will create a hybrid service model and offer support to the areas you find challenging.  

Read More

6 Step Process Taken by Procurement Consultants

Procurement consultants carry out process of choosing vendors, calling for quotes, negotiations, defining contracts and payment terms, quality and quantity before the actual purchase is done. Unlike the normal purchasing that is done at retail stores, procurement is carried out differently and done after a lot of strategic planning.

There are a few steps that the procurement consultants in India apply to make sure the clients get the best deals, at the most competitive prices, and improve their savings and productivity.

What the procurement consultants do:

1. Analyze the existing process:

Study the current practices, the spend, identify the team, stakeholders and redraft a new strategy.

2. Assess the requirements:

Test the decisions, estimate the demand, do a market scrutiny, call for fresh quotes.

3. Design a strategy:

Draw a fresh strategy and design, get approval from client, announce in the market and call for supplier quotes, tenders, etc.

4. Draft a contract:

After negotiations, write a contract draft for approvals from both- client and the vendors/suppliers.

5. Finalize the contract:

Redraft the contract as per any revisions proposed and accepted by the two parties. A final formal contract is drawn. The two parties sign the contract.

6. implementation stage:

The consultants keep a close watch on how the process is taking shape, suppliers performance, quality tests etc before the first procurement is executed.

Read More

Mergers and Acquisitions Advisory Company in India Steps for Successful Deals

Mergers and acquisitions are an accepted strategy for survival in today’s competitive global business environment. However, not every effort is successful. It is important to partner with a mergers and acquisitions advisory company in India rather than taking the risk of going alone. There have been many failures in the past which has led to the newly formed company going bankrupt. M&A deals can become risky without a proper strategy, expertise, and insights.

What does the mergers and acquisitions advisory company in India do

Identify the growth market:

The advisory consultants will collect and analyze the client data, origin, brand reputation, the company market value, employee standing, competitors and their standing, product value, consumer preferences and similar.

Shortlist the M&A candidates:

The second stage is to identify the potential candidates who are the ones willing to be sold, who the potential buyers could be, their brand reputation, probable risks etc.

Assess the financial implications:

The mergers & acquisitions consulting firm in India will draft out the merger payment process. They do an in-depth study of whether the buying party has the capacity, the compensations to employees rolled out, and more.
There are more factors that must be considered which may vary based on the individual cases.

Read More

Merger and Acquisitions Advisory Company in India Can Be a Key Partner in Your Success Story

Today’s business environment is complex that necessitates an organisation to take some hard-hitting decisions. To survive and grow, one important decision they need to take is that of merger and acquisition. M&A is necessary for growth but evolves some intricate steps to be followed. Hence it makes sense to use a professional merger and acquisition advisory company in India.

What does M&A mean?

The two strategies have different concepts. While merger is joining of two organisations and forming a new entity, acquisition is an outright purchase of one company by another on mutually agreed terms & conditions.

The purpose behind M&A is to eliminate competition, form a strong brand, improve market control, reduce tax liabilities etc.

What merger and acquisitions advisory company in India does

Market valuation of the target company

Meeting between the acquiring company and the target company

Non-disclosure agreement between the two parties

Draft a merger proposal, apply at all governing bodies- high court, stock exchange, registrar of companies and similar. 

The merger and acquisition consulting firm in India will take responsibility for all the regulatory and legal aspects, advice in taking important decisions, negotiate from the client’s perspective etc. They will draft the different agreements business and asset acquisition, share purchase, valuation and many similar. 

Read More

How the Procurement Service Provider Can Be Your Partner to Achieve Efficiency

Procurement is a process of buying materials, contracts, services, and similar at the best price in an open market. Many organisations struggle and fail to achieve success in procurement which results in unnecessary spend and waste. The need for a procurement service provider is increasing rapidly.  They can help an organisation realise cost savings without reducing the volume of resources. Increasing competition, varying consumer demands, and the escalating costs are three primary worrying aspects for a business.

What they can accomplish:

The procurement consulting companies can be a major influence in several ways for an enterprise. These include

. Reduce costs for goods and services

. Improve spend efficiency

. leverage new procurement technologies

. employ industry best practices

. train your in-house team

. streamline the supply chain process

They achieve all this and more with strategic planning, supplier rationalisation, improve vendor collaboration and negotiation, and sourcing.

How you could use a consultant:

The key to a successful procurement strategy lies in hiring the right procurement service provider. Requirements will not be same for every organisation. You could use them rather than build an in-house procurement department. Or use their expertise to train your existing in-house team with new strategies and technologies. 

Read More

How Procurement Solutions India Unlocks New Opportunities

The general business productivity of most of the organisation is stuck in between. The consumer demands and awareness are getting more complex, competition and market conditions are evolving. The technologies and tools that are available are falling short in delivering the rising complexity of the situation. How to resolve this issue and deliver more?  

Digitisation is one of the possible solutions at least for procurement. The procurement solutions India service can take the client’s procurement capabilities to improve their performance, enhance productivity and surge ahead of the competition. 

The procurement solutions India services include

Transformation: 

The organisation must transform their legacy processes, structures, and practices while aligning them with their current requirements. 

Outsourcing:

They offer a choice of procurement options that can be customised to meet the demands of an organisation.

Consultancy:

Build and manage the operations, implement strategies and improve efficiency with the objective of gaining a wider reach and have a positive performance impact. 

The development of digital technologies is accelerating and to survive, your organisation needs to keep pace. The procurement solution providers design a strategy that can meet the complex working of an organisation. This can offer some striking results that include improved spend perfectibility, increased transparency, and compliance, improve the user experience while significantly improving the cost savings. 

Read More