A buying guide for Animal Feed category – enriched with research on Animal Feed procurement spend patterns, Animal Feed pricing intelligence, market dynamics and top suppliers of Animal Feed.
GET FREE SAMPLEOur category grouping process defines that the overall Clinical and Medical Support Services market includes all spend on services used in diagnosis, treatment and rehabilitation, including medical practice provided through a third-party, repair and maintenance of equipment and medical science services. Dynamics of the global Animal Feed market play out within this wider arena of Clinical and Medical Support Services market. Therefore, our coverage of the Animal Feed category also operates within this broader boundary of the overall Clinical and Medical Support Services market.
The market for Clinical and Medical Support Services and its sub-segments such as Animal Feed are at an interesting intersection. Rapid growth in the biosimilar and biologics market and global focus on gene therapy studies for rare diseases have resulted in an increased spend within the broader industry.Despite increasing costs on almost all fronts, suppliers are resisting a drastic price increase due to intense competition where market players are willing to increase their market share at the cost of profitability. Therefore, buyers can expect pricing status quo in most cases, or only negligible to marginal price increases in some cases.Many suppliers are expanding within the value chain to offer integrated solutions. With this new approach, suppliers can offer a wide portfolio of solutions and position themselves for large contracts that go beyond just Animal Feed. Buyers also find the benefits of volume buying, consolidation of supplier base, efficient co-ordination in case of an event and less spending on category management.Trends like these and many others discussed in this report are necessitating a relook at the way Animal Feed is procured and the procurement cost saving opportunities that exist.
It has become imperative for category managers to remain as agile as possible in terms of their procurement practices. However, it is not always easy to quickly spot and implement alternative practices in a category like Animal Feed. To help quick decision making, this report advises on several procurement best practices that have worked well for category managers. For example, Category buyers should invite bids from all potential service providers that have the ability to meet the overall requirements. Bids must be evaluated based on pre-defined parameters such as financial strength, reputation, offerings, geographical presence, and track record. Buyers can use standard scorecards to evaluate service providers and provide necessary feedback to rationalize the given scores. This helps in the effective documentation of decision-making processes.Before engaging in a contractual agreement with suppliers, buyers should focus on identifying and understanding various critical parameters along with their impacts on different procurement models.It is important for category managers to track and measure the performance of suppliers against a set of defined KPIs that are agreed upon during the contract negotiation phase. The performance of suppliers can also be linked to a portion of their fee that can be paid upon rendering of services in a satisfactory manner.
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Animal Feed procurement managers also need to proactively identify and mitigate potential risks that can arise in the supply chain or contracts for Animal Feed procurement. Some examples include:
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Procurement decisions can prove to be costly in the absence of careful deliberation and evaluation of every available option. In fact, more than 90% of the decision makers we work with acknowledge that timely availability of up-to-date category intelligence can help them make better purchasing decisions. More than 80% of them believe that in-house category intelligence needs to be updated periodically to achieve full benefits. If you have read so far, we are quite sure you agree!!
You may have just initiated your research to design a winning Animal Feed procurement strategy, or you may be a category expert looking for strategic insights and updated data.Either ways, the report has your requirements covered.
The report is intended to serve as a one-stop reference guide for Animal Feed procurement strategy and offers a perfect blend of category basics with deep-dive category data and insights. Therefore, it is ideal for category beginners looking for “Animal Feed: Procurement Report 101” as well as for category experts actively tracking the global Animal Feed procurement market.
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The Animal Feed procurement report helps take more informed decisions by placing all the critical information and advice at the fingertips of a decision maker. It also specifically answers some of the key questions that we have been routinely asked during our industry outreach initiatives:
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The Animal Feed market report offers a complete picture of the supply market and analyzes the category from the perspective of both buyers and suppliers. Analysis of the category trends, procurement best practices, negotiation levers and overall category management strategy advisory are interspersed with in-depth data and commentary on spend outlook, pricing ecosystem and supplier landscape drilled down to a region-level coverage.
A key highlight of this report is the in-depth outlook created on Animal Feed procurement spend and pricing trends. The report further delves deep into the aspects of cost structure, total cost of ownership and supplier margins for Animal Feed. A dedicated section to supplier profiles and evaluation helps decision makers cast a wider procurement net and identify gaps in existing relationships.
Along with specific category and supplier intelligence, the publication also includes curated insights on Animal Feed market trends, price influencers and inherent risks. These insights help the decision makers prepare for market shaping trends in advance and create alternative strategies for changes in the market conditions.
Additionally, the report also advises on the best practices and strategies to manage the Animal Feed category efficiently. Negotiation levers and opportunities are explained in detail along with quantification of their potential. Benchmark KPIs for supplier and buyer performance management are also aggregated to better organize the category objectives. Other themes of advisory include ideal procurement organization structure, enablers to achieve KPIs or category objectives and ideal SLAs to have with suppliers.
Our research is complex, but our reports are easy to digest. Quantitative analysis and exhaustive commentary is placed in an easy to read format that gives you an in-depth knowledge on the category without spending hours to figure out “what does it mean for my company?”
SpendEdge presents a detailed picture of Animal Feed procurement solutions by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key category influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
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