Suppliers are identified through secondary research, industry articles, association reports, and government publications
Basic details were captured to get more knowledge and insight for the suppliers identified
Operational and functional capabilities are mapped by analyzing supplier product and service portfolio
Primary research was conducted to validate the information captured from secondary research
Suppliers not offering vitamin and dietary supplements are listed under eliminated supplier list
Each supplier finalized was benchmarked based on the capabilities being offered by them
All the capabilities mapped were assigned weightage as per category standards
Rankings was ascertained based on the weightage provided and suppliers are recommended accordingly
GVR conducts a combination of qualitative and quantitative research, where we get into in-depth conversations with end consumers and suppliers to understand the offerings present in the market, along with their procurement best practices. Two types of approaches are mainly followed: Exploratory (open ended questions) and Specific (problem specific questions).
Our team specializes in collecting information from secondary sources such as: supplier websites, information published by government agencies, media, chamber of commerce, etc. The sources are well documented which can be referred by the client for further clarification.
The scope was build and shared with the client, taking into consideration the key problem of identifying suppliers for vitamin and dietary supplements and building a robust sourcing strategy for better negotiation and cost savings opportunities.
The list of suppliers identified for the report were shared with client for approval, and subsequently the respondent and RFI documents were confirmed. The vitamin and dietary supplements market is fragmented with Amway and GlaxoSmithKline being the leaders for the category. The research was conducted as non-probability sampling by defining the variables. The study was executed as a non-branded study where the name of the client was not revealed at any stage.
The primary mode of conversation with the client was dependent on email and phone surveys. The telephonic surveys are in-depth and possess high degree of confidence on the data captured. The data collected are further validated with secondary research and also confirmed with other industry experts. The filled RFIs are documented as a reference point for the client which might be used for further communication.
The data collected from primary and secondary sources are provided with examples to provide the client a case study based approach on the analysis that has been derived. The suppliers selected and ranked are backed by a robust weighted methodology, which gives the client a clear comparison of different suppliers that are identified for the vitamin and dietary supplements category. The sourcing strategies listed in the report are validated from industry experts and the most prevalent ones are highlighted.
The analysis for the report are divided in different sections which comprises of Market, Supplier, and Sourcing Intelligence. The chart based recommendations enables procurement leaders to make appropriate decisions for selecting correct supplier selection and sourcing strategies. We have provided information on key suppliers along with their capabilities for ease in comparison among them.
Well informed decisions
Selecting appropriate engagement model
Category Spend and Factors influencing growth
Cost Saving Opportunities
Procurement Best Practices
Extensive Supplier Analysis
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Component wise cost break down for better negotiation for the client, highlights the key cost drivers in the market with future price fluctuation for different materials (e.g.: steel, aluminum, etc.) used in the production process
Offering cost transparency for different products / services procured by the client. A typical report involves 2-3 case scenarios helping clients to select the best suited engagement with the supplier
Determining and forecasting salaries for specific skill set labor to make decision on outsourcing vs in-house.
A typical newsletter study by capturing latest information for specific suppliers related to: M&As, technological innovations, expansion, litigations, bankruptcy etc.
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