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With the help of efficient technology use, the external auditing market is transitioning from a backward-looking and reactive function to a forward-looking and proactive one. Read more

With the help of efficient technology use, the external auditing market is transitioning from a backward-looking and reactive function to a forward-looking and proactive one. The revolution has only started, and depending on how it develops, auditing may be perceived quite differently. The auditing sector has been significantly impacted by technological advancements in artificial intelligence, data analytics, blockchain, cloud computing, and cloud storage. These changes necessitate technology investments from auditing firms and the hiring of trained personnel with strong IT skills.

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The global market for loyalty programmes is predicted to develop at a CAGR of 5-6% Read more

Between 2017 and 2022, the global market for loyalty programmes is predicted to develop at a CAGR of 5-6% and reach a value of between $215 and 216 billion. According to Beroe's sector analysis, the global loyalty management market is projected to reach $184-186 Bn by 2020.

In all key industries, businesses are quickly moving away from customer-centered strategies and toward product-focused ones. Experts at Beroe claim that the best and most durable company value is produced by prioritising customer demands and creating value for consumers.

Creating customer-centered strategies is crucial to raising the customer retention rate because loyalty programmes are targeted at luring and rewarding businesses' repeat consumers. As a result, the need for loyalty programmes has multiplied.

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Only 10% of beverage cans are manufactured using steel worldwide, and 90% of them are made of aluminium, which will contribute to the growth of the beverage can market. Read more

Only 10% of beverage cans are manufactured using steel worldwide, and 90% of them are made of aluminium, which will contribute to the growth of the beverage can market. The demand for beverage cans will primarily be driven by rising consumption in growing regions like Asia and LATAM, which are expected to grow at CAGRs of 4-5 percent and 3-4 percent, respectively, until 2024. Beer (5–6%), CSD (2–3%), and energy drinks would be the main factors influencing downstream demand (9–10 percent). Through 2024, the worldwide beverage can market is expected to expand at a rate of 3–4 percent CAGR, driven by demand for the end-use categories of beer and CSD, particularly in the developing regions.

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Techniques for extending the payment period without harming suppliers

In a perfect world, providers would get payments for bills almost immediately, but this rarely happens. Any provider could become irritated if a client pays later than expected or if the terms of payment are abruptly changed. Read more

In a perfect world, providers would get payments for bills almost immediately, but this rarely happens. Any provider could become irritated if a client pays later than expected or if the terms of payment are abruptly changed.

Notify current, non-strategic suppliers in writing. Moving forward, think of the DPO as the current PT + 15 days.

To make the preferred payment term a contractual requirement, new suppliers must mention it in contracts.

Invite strategic suppliers to work with you to increase the number of days (+) without increasing costs. Make a strategy to gradually transition to the new payment terms over the course of the current fiscal year or the following two years.

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Important Things to Take into Account When Examining Market Opportunities

The fitness sector is one area where a market opportunity analysis is used. Despite the fact that being in shape has always been regarded as desirable, the market for fitness-related products has never been as crowded as it is now. Read more

The fitness sector is one area where a market opportunity analysis is used. Despite the fact that being in shape has always been regarded as desirable, the market for fitness-related products has never been as crowded as it is now. Simple: There are more options. The continued popularity of fitness as compared to a few years ago shows that this trend is about to end. It has been profitable for several markets.

A few of these areas have experienced rising growth as a result of the vast potential of the fitness industry, including books, energy drinks, businesses that offer customised diet plans, food items, and clubs. Opportunities do exist, but it's important to pick the proper moment to take advantage of them.

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A trade war might increase the cost of MRO spare parts by up to 12%, according to MRO industry trends. Read more

A trade war might increase the cost of MRO spare parts by up to 12%, according to MRO industry trends.

The term "consumables" refers to the supplies needed for maintenance, including furniture, consumables, industrial equipment, and plant supplies. MRO stands for maintenance, repair, and operations. In 2018 and 2020, the Global MRO market was projected to be valued more than $600 billion and $660 billion, respectively. The markets in the US, France, Belgium, the Netherlands, the United Kingdom, and Germany are among those with a high level of maturity. Several regions of Western Europe, Canada, India, Japan, China, Africa, and Brazil are among the markets with a medium level of maturity. Food and beverage, CPG, mining, automobile, technology, pharmaceutical, and oil and gas are a few of these sectors.

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What You Need to Know About API in the Pharmaceutical Market

In the past, pharmaceutical companies produced their own APIs. However, in recent years, an increasing number of businesses have outsourced API development to cut costs on high-priced tools, infrastructure, and labour. Read more

In the past, pharmaceutical companies produced their own APIs. However, in recent years, an increasing number of businesses have outsourced API development to cut costs on high-priced tools, infrastructure, and labour. They buy the active components from producers of API, then combine the API with pharmaceutical excipients to create the drug. Because of this, many American pharmaceutical firms import their APIs. When it comes to manufacturing, China and India rule the pharmaceutical API market.

The pharmaceutical market is expanding rapidly. An important contribution has been made by the Pharma API Market. Pharmaceutical businesses now prefer to outsource API production rather than handle it completely in-house. Their bottom line has significantly changed as a result.

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Opportunities in India for the Packaging of Corn Starch

In many of its states, India is set to ban plastic. This circumstance offers a significant opportunity for the corn starch packaging industry given the rapidly expanding packaging sector. Read more

In many of its states, India is set to ban plastic. This circumstance offers a significant opportunity for the corn starch packaging industry given the rapidly expanding packaging sector. Before, there was an attempt to spread the use of corn starch bags. Cost, pricing, and purity issues are a few of the challenges that may impede market expansion. The potential and future of the corn starch packaging market in India are covered in this article.

This article evaluates the whole corn starch packaging business, finds market drivers and barriers, and makes predictions about a probable plastic substitution.

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Globally woven polypropylene cement sacks are recycled and used to produce low-cost plastic items like buckets, slippers, and mugs. Read more

Globally woven polypropylene cement sacks are recycled and used to produce low-cost plastic items like buckets, slippers, and mugs. Recycled woven polypropylene cement sacks have not yet been used in India. However, if India improved its handling system and expanded the usage of recovered polymers, it would have greater chances than other countries. In order to lessen their carbon impact or increase sustainability, cement manufacturers could use this to position themselves as sustainable companies. However, considering the costs, businesses could not experience considerable financial savings.

Recycling companies pay scrap collectors INR 2 or 3 per kilogramme for unwashed cement bags. Average recycled polymer costs INR 65-70 per kilogramme (11–13 bags), compared to woven polypropylene cement sacks, which cost INR 40–50 per kilogramme (11–13 bags).

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Over 63% of the semiconductors used worldwide are made in Taiwan. Any attack near Taiwan will worsen the harm that the Russo-Ukrainian conflict is already doing to the semiconductor supply chain impact by reducing the availability of neon gas and palladium for semiconductor production.

The cost of operating a data centre would skyrocket, possibly in a similar fashion to how expenses escalated as a result of the Taiwan floods in 2011. Because providers would anticipate having more inventory on hand, demand for data centre infrastructure would rise dramatically in the event of a military war, notably in the US, Europe, and Asia-Pacific region.