E-Procurement Platform Research and Selection for a Cosmetics Brand
Strengthening decision-making on procurement transformation
CLIENT
Srichand
INDUSTRY
Cosmetics, Manufacturing, Retail
DURATION
2 Months
SERVICE
Vendor Selection
RELATED TOOL
Procurement Management
SUMMARY
Assisting a well-known cosmetic manufacturer in researching the best e-procurement platform for B2B orders from dealers and middlemen. The client was evaluating whether to develop the platform internally, subscribe to a ready-to-use SaaS, or postpone the project. We gathered options from local and global vendors, comparing features and costs, and helped the client make a confident final decision.
Vendor Research & Selection
2X
Faster in Selection
BACKGROUND
Srichand, a well-known cosmetic manufacturer, sought our assistance to research and select the best e-procurement platform for managing B2B orders from dealers and middlemen. The company faced a crucial decision: whether to develop the platform internally, subscribe to a ready-to-use SaaS solution, or postpone the project. Our goal was to provide comprehensive insights into local and global options, enabling Srichand to make an informed and confident decision.
CHALLENGES
Srichand faced several key challenges: • Unclear Requirements: As the concept was new, defining clear requirements was challenging and necessitated research to establish generic benchmarks. • Diverse Dealer Base: Dealers varied in business size and primarily needed to use Thai for communication, whereas most competent platforms were not local and lacked Thai language support. • Budget Concerns: The budget became a significant concern, especially with the potential scaling of the online sales channel.
WHAT WE DID
Our strategic approach included the following steps:
• Internal Assessment: Conducted in-depth research to establish benchmarks and clarify requirements for the e-procurement platform.
• Vendor Selection: Evaluated a wide range of e-procurement platforms, both locally and globally, focusing on their ability to meet Srichand’s unique needs. We compared features, costs, and language support to ensure suitability for the diverse dealer base. Detailed cost-benefit analyses were performed to address budget concerns and potential scalability.
OUTCOMES
Our collaboration with Srichand led to significant achievements: • 2X Faster in Selection: Accelerated the vendor selection process, completing it in half the typical time. This enabled Srichand to make a timely and well-informed decision. • Informed Decision-Making: Provided Srichand with a comprehensive comparison of e-procurement platforms, including considerations for language support and budget constraints, helping them decide whether to develop internally, subscribe to a SaaS solution, or postpone the project.
By conducting thorough research and a meticulous vendor selection process, we enabled Srichand to make an informed decision on the best e-procurement platform for managing B2B orders. This enhanced their operational efficiency and strategic planning, accommodating the diverse needs of their dealer base and addressing budget concerns for scalable growth.
