LONDON--(BUSINESS WIRE)--SpendEdge, a global procurement market intelligence firm, has announced the release of their Global Silver Category - Procurement Market Intelligence Report. Silver is utilized as a major source of investment and is majorly acquired in the form of coins and bars. This is majorly influencing the demand for silver fabrication. Apart from this, silver is high in demand in countries like China and the US, which, in turn, is increasing the value momentum for the silver market.
“To ensure that the product matches the quantity and quality mentioned in the invoice, the buyers must involve an independent third-party to inspect the quality and quantity at all shipping ports,” says SpendEdge procurement expert Angad Singh. “Also, the buyers should conduct a cost-benefit analysis to evaluate the supplier’s performance by comparing the forecast with the actual prices during the contract period,” added Angad.
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SpendEdge’s procurement market intelligence reports for the heavy industry category offer a detailed overview of the sustainability and procurement best practices for both the buyers and the suppliers. These reports offer valuable inputs such as major category management objectives and analysis of the total cost of ownership while devising an effective category management strategy. Additionally, SpendEdge’s reports provide insights on the cost-saving opportunities and category pricing strategies.
The procurement experts at SpendEdge expect the following factors to play a key role in influencing the global category spend for the silver market.
- High demand for silver in China and the US
- Wide usage of silver in manufacturing electrical equipment and devices
- To know more, View the full report
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Report scope snapshot: Silver market
Cost-saving opportunities
- Supplier side levers
- Buyer side levers
- Quantifying cost-saving opportunities
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Best practices
- Procurement excellence best practices
- Procurement best practices
- Sustainability practices
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Category ecosystem
- Market favorability index for suppliers
- Competitiveness index for suppliers
- Threat of new entrants
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