Infiniti Research, a leading market intelligence solutions provider, has recently announced the completion of its latest success story on market monitoring analysis. This success story highlights how Infiniti helped an industrial equipment manufacturer implement strategies to support the immediate acceptance of engineering change requests into the project specifications, reduce quotation errors, ensure timely delivery, and reduce overhead expenses.
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Infiniti Helped an Industrial Equipment Manufacturing Firm Reduce Overhead Expenses and Realize Savings of Over €4.4 Million with Market Monitoring Analysis (Graphic: Business Wire)
Although the global industrial equipment manufacturing market has been witnessing profitable growth over the past few years, the industry is not completely free of challenges. Major companies in the industrial equipment manufacturing industry are facing difficulties such as lack of insight into the supply chain, resource management problems, and engineering challenges. To succeed in the long-run, industrial equipment manufacturing companies are in the need to deliver outstanding services and maintain a competitive advantage.
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Business Challenge: The client, an industrial equipment manufacturing firm, based out of Central Europe, faced difficulties in handling engineering changes. Also, they faced difficulties in planning supply chain operations and resource management. As a result, the company encountered a huge decline in its sales rate for two consecutive years. The client, therefore, wanted to reduce inventory errors, better plan supply chain operations, and efficiently allocate resources. They chose to partner with Infiniti Research to leverage their expertise in offering market monitoring analysis. By partnering with Infiniti Research, the client also wanted to implement a structured process to handle engineering changes, reduce quotation errors, ensure service delivery is as per schedule, deal with changes like product escalation, and combat service flow related problems.
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Our Approach: To help the industrial equipment manufacturing firm tackle the above-mentioned challenges, the experts at Infiniti Research conducted a market monitoring analysis, market intelligence engagement, demand management study, and technology assessment. The engagement also involved gathering detailed insights into the European industrial equipment manufacturing market, identifying the latest R&Ds, analyzing key competitors, and understanding customers’ evolving requirements regarding industrial equipment.
Business impact of the market monitoring analysis for the industrial equipment manufacturing market client:
- Implemented a structured process to handle engineering changes and support the immediate acceptance of engineering change requests into the project specifications
- Identified the structure of the supply chain and risks associated with it, including fluctuations in supply capacity
- Streamlined supply chain operations and reduced supply-demand mismatch
- Ensured that manufacturing is on time and service delivery is as per schedule
- Forecasted equipment demand and efficiently managed changes like escalations, interruptions, and labor shortages
- Reduced overhead expenses
- Invested into cost-effective technologies and enhanced operational efficiency
- Identified the right business partners to support them in supply chain operations at periods of high demand
- Achieved savings of over €4.4 million in a year
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About Infiniti Research
Established in 2003, Infiniti Research, is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to help analyze competitive activity, see beyond market disruptions, and develop intelligent business strategies. To know more, visit: https://www.infinitiresearch.com/about-us
View source version on businesswire.com: https://www.businesswire.com/news/home/20200317005541/en/