Case Study
Using TechInsights Semiconductor Manufacturing Economics, Executive Insights and Connected/Smart Home Coverage to Enhance Procurement Negotiating
An industry leading designer and manufacturer of innovative sound systems that delivers high-quality audio for music, TV and smart home applications, used TechInsights analysis to improve their procurement negotiation tactics. The customer was able to position themselves as a market leader by making informed and strategic business decisions with the support of our solutions.
The Challenge
The customer, in their pursuit of improved negotiation strategies, procurement insights and competitive intelligence, has enlisted TechInsights’ industry expertise to remain a viable player in the rapidly evolving consumer electronics market. Additionally, as a holder of thousands of patents, the client is seeking protective measures for their IP assets.
The Solution
TechInsights delivered for the customer, supplying them with end market data and analyses that provided strength and weakness information of their competitors and identifiable market opportunities to take advantage of. This data enabled the customer to enhance their internal modules and finalize their strategy while product teardowns informed them about their competitors decision making and how the customer could take advantage of these insights to develop a superior product. For the organization’s product planning, TechInsights’ Executive Insights product afforded them timely coverage of the state of the semiconductor industry as well as key innovations impacting product development. From the procurement angle, TechInsights Procurement product guided purchasing decisions, including critical information on which suppliers would assist the customer on constructing premier products as well as when purchasing specific components would be most cost-effective, which reduced production spending.
The Results
The array of products TechInsights provided in this case allowed the customer to streamline their procurement processes, saving them 1% on procurement costs which dramatically increased the customer’s efficiency and has the potential to increase company revenue by $1.5 million. TechInsights detailed cost models and competitive data provide a foundation for augmented strategic decision making. Additionally, the customer was also able to generate new revenue thanks to enhanced product development methods and investments into new product lines.
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