Learn how prominent meat manufacturer Moguchon leveraged data-driven decisions to achieve cost reductions. By partnering with Tridge, a trusted provider of agricultural data solutions, Moguchon successfully transformed its supply chain, improving efficiency and profitability.
Moguchon is one of the largest meat manufacturing brands, engaged in producing and distributing livestock, meat and meat products. Established in 2006, Moguchon is based in Seoul, South Korea and operates as a subsidiary of Nonghyup Bank.
Moguchon encountered complexities in managing their supply chain operations efficiently while striving for optimal cost reduction. They needed to source the best meat products at competitive prices and uncover new trading opportunities, which demanded data-led strategies to stay competitive in the marketplace. Additionally, the company was in the midst of adopting a digital-forward transformation aimed at setting a new standard in the agricultural industry.
Data-Driven Insights for Supply Chain Optimization
Tridge's agricultural data solutions empowered Moguchon to optimize their supply chain. By leveraging Transaction Data, they gained valuable access to comprehensive market insights, sourcing trends, price comparisons, and customs data. Through analyzing sales from various sources and benchmarking competitors' import unit costs, Moguchon refined their sourcing strategy, resulting in cost reductions and enhanced competitiveness.
Precision with Price Verification and Transparent Cost Estimation
Tridge's tools enabled Moguchon to achieve precise price verification and data-driven cost estimation. By integrating our market data, Moguchon gained accuracy in verifying vendor prices and estimating sourcing costs. This breakthrough empowered Moguchon to negotiate better deals, optimize their procurement expenses, and enhance cost efficiency.
Finding Suppliers and Staying Competitive With Market Intelligence
Tridge’s Transaction Data allowed Moguchon to explore and diversify their trading channels effectively. By gaining visibility into sourcing and sales channels, they identified untapped opportunities for growth, expanding their reach, establishing new partnerships, and unlocking avenues for increased business volume. Moguchon also used the data to evaluate import unit costs and market trends of their rivals, gaining valuable insights into pricing strategies and market dynamics.
Nonghyup Moguchon utilized Tridge TDS (Transaction Data Service) to discover and identify domestic importers of raw and subsidiary materials necessary for production, which allowed us to gain negotiating power and buy good quality products at a reasonable price. Moving forward, Nonghyup Moguchon intends to decrease costs by directly purchasing products using Tridge’s global infrastructure.
Efficiency, Cost Reduction, and Market Leadership
Through their strategic partnership with Tridge and the implementation of data-driven solutions, Moguchon achieved results that notably transformed their business. They not only refined their price negotiations, paving the way for cost savings, but also improved their status as leaders in the agricultural sector. This approach enabled Moguchon to stay ahead of the competition and drive sustainable growth.
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