Re-Thinking Your Metal Procurement Can Help Navigate Stock Shortages And Price Rises In 2021 : For manufacturers that consume metal, rising prices have increased cost pressures, while COVID-influenced production delays and the effect of EU quotas continue to impact stock levels. Manufacturers need greater product visibility, more supplier options and to reduce costs to overcome these challenges.
Instantly increase your supply options
With the current stock shortages, it’s vital to know who’s operating and what products are available. Digital tools offer buyers a broader view of the market and access to a more diverse supplier base. Online metal shops make it easier to quickly compare prices but only digital services that work with a network of buyers and suppliers can provide a rapid, true market view.
Existing services like SteelScout, MatMatch and Fractory already connect buyers and suppliers to ensure that both parties get a greater view of supply and demand. And what’s more, this approach gives buyers the flexibility to switch supply options in the event that products aren’t available.
Deliver operational efficiencies and reduce costs
Digital procurement services also allow businesses to generate operational efficiencies and harness data to improve their operations. At a time when pressure on costs is so high, automating procurement admin can add value by freeing up resources to be better spent elsewhere.
Sourcing quotes, agreeing orders, reporting and documentation can all be made easier and quicker with the right tools. Such tasks could equate to up to 50% of a buyer’s time so the potential for productivity gains and cost saving are considerable. For suppliers, automating basic processes and reducing the time needed to get quotes out can speed up the time taken to respond to customers and win jobs.
Furthermore, teams can manage their accounts from anywhere, at any time. Complications caused by the pandemic have led to a lack of on-site access for 40-50% of the workforce so the ability to manage quotes and orders online from any location for both buyers and suppliers is invaluable.
Keeping supply chains moving
Digital services have already kept businesses open and productive through the pandemic. As we navigate this period of stock shortages and price increases, they can continue to keep manufacturer’s supply chains connected and more efficient. If you use metal in your operations, SteelScout is a digital procurement service that can instantly expand your supply options, drive better value and make your procurement more efficient. All of which effect your bottom line.
About SteelScout
SteelScout connects metal buyers to a network of suppliers across the UK who provide competitive quotes based on a buyer’s specific requirement. But that’s not all we do. Using technology, we also provide an environment for buyers and suppliers to manage their orders, certificates and reporting eliminating the need for spreadsheets and procurement admin.
And even though SteelScout uses technology to do the admin, we assign an expert Personal Account Manager to every customer who will oversee every order from quote to delivery. Buyers only need to liaise with one contact to get everything done from sourcing to pricing and delivery.
Find out more at SteelScout.com
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