Benchmarking study helps an oil & gas company negotiate a robust contract for major furniture purchases for their facilities expansion.
Opportunity
Our client is a major oil and gas company that was embarking on a major construction project of building multiple large office buildings and was in the process of making a major furniture purchase for the new locations.
Anklesaria was asked to develop a benchmarking study that the company could use to benchmark against RFPs the client would be receiving from the various suppliers. The goal was to utilize the information to make sure the client was receiving favorable pricing and terms.
Approach
Anklesaria contacted over 50 companies that had similar buying power in both the client’s industry and other industries that conduct similar large-scale office furniture purchases on a global scale. A questionnaire was then created covering different information related to discount schedules, along with other terms and conditions.
The Anklesaria Group conducted the study by guiding each participant through the questionnaire and compiling/analyzing the data. The information was then put into a report and presented to the client in order to give them an idea of how their current pricing terms compared to others and how to use this information to analyze the RFP responses.
Impact
The benchmarking study allowed the client to gain useful knowledge concerning pricing terms, conditions and discount schedules. The client was able to incorporate the information into their negotiation strategy and develop a more robust contract with the supplier based on the facts and knowledge they gained from the benchmark study.
Our client is a major oil and gas company that was embarking on a major construction project of building multiple large office buildings and was in the process of making a major furniture purchase for the new locations.
Anklesaria was asked to develop a benchmarking study that the company could use to benchmark against RFPs the client would be receiving from the various suppliers. The goal was to utilize the information to make sure the client was receiving favorable pricing and terms.
Approach
Anklesaria contacted over 50 companies that had similar buying power in both the client’s industry and other industries that conduct similar large-scale office furniture purchases on a global scale. A questionnaire was then created covering different information related to discount schedules, along with other terms and conditions.
The Anklesaria Group conducted the study by guiding each participant through the questionnaire and compiling/analyzing the data. The information was then put into a report and presented to the client in order to give them an idea of how their current pricing terms compared to others and how to use this information to analyze the RFP responses.
Impact
The benchmarking study allowed the client to gain useful knowledge concerning pricing terms, conditions and discount schedules. The client was able to incorporate the information into their negotiation strategy and develop a more robust contract with the supplier based on the facts and knowledge they gained from the benchmark study.
