Automated External Defibrillators Market Procurement Intelligence Report

Business practices within Automated External Defibrillators market are heavily influenced by changing trends across the category as well as within the broader Engineering Products and Equipment market. Volatility in the prices of key inputs is creating multiple issues that impact procurement within Automated External Defibrillators category such as benchmarking and budgeting of the procurement costs.

Procurement costs for Automated External Defibrillators are highly impacted by an increase in the costs associated with the value chain of Automated External Defibrillators, such as logistics, labor cost and energy. Additionally, outdated assets are also increasing the cost for suppliers.

Regulatory guidance on data protection and increasing concern over cybersecurity have increased the costs for suppliers as they incur additional spend on compliance and security. These additional costs have a potential to drive marginal increase in prices across the key geographies.

As a result, category managers need to closely monitor the Automated External Defibrillators procurement trends and identify changes required in their procurement environment for the category.

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 Automated External Defibrillators. To help quick decision making, this report advises on several procurement best practices that have worked well for category managers.

For example, Buyers need to evaluate the in-depth expertise of suppliers in the Automated External Defibrillators industry. This can be assessed by considering factors such as the years of experience, number of resources that have multi-year experience of working in the same industry and at least 3 to 5 credentials for the supplier.

Buyers should engage with suppliers that have adopted a global delivery model as it reduces buyers' risk. In this model, any disaster/emergency at any operating facility of supplier will result in the work being transferred to a different facility, thereby ensuring continuity of the project and reduced risk for buyers. This model also provides buyers access to skilled labor from across the globe, thereby improving the quality of engineering products provided by the supplier.

Competitive bidding as a cost optimization tool is extremely potent but should be carefully deployed only when there is no significant differentiation among Automated External Defibrillators suppliers.

Automated External Defibrillators procurement managers also need to proactively identify and mitigate potential risks that can arise in the supply chain or contracts for Automated External Defibrillators procurement. Some examples include: