Business Cards | Intelligence Report

Strategic Sourcing Guide to Business Cards Procurement

Overview

Business practices within Business Cards market are heavily influenced by changing trends across the category as well as within the broader Office Supplies market. Many suppliers have begun to use various online media platforms such as social networking sites and mobile applications to expand their digital presence. It is because digital marketing helps suppliers reach target audience in a cost-effective manner. Also, as most of the leading suppliers of the market have invested in online commerce, digital marketing also helps generate online sales and create brand loyalty. Benefits of digital marketing are making suppliers invest in digital marketing solutions.

Most of the developing countries in the world are going through rapid growth in their manufacturing, services and outsourcing sectors, leading to an increasing number of offices. Suppliers are rising to the challenge to induct solutions within their portfolio that are suited for the varied demand patterns that emerge from this expanding customer base.

As a smaller indirect spend category, has largely escaped the intense scrutiny and analysis that procurement functions extend to most direct spend categories. However, some of the suppliers have begun to offer intelligent solutions to procure and analyze expenditure on each of the items so that effective budgeting can be done. Given the trend, more vendors are expected to offer such tools to buyers.

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

Business Cards Procurement Best Practices

Sometimes, procurement functions are unable to timely alter their practices while responding to market conditions. Industry experts acknowledge that periodically reviewing procurement best practices and adopting learnings from across procurement categories can help procurement teams respond to market needs in a more agile way. This report combines our experience of other categories with Business Cards procurement insights and hand picks best practices that can work for category managers delving in this market.

For example, Advanced data analytics systems should be actively used to identify compliance issues, demand, and price tracking.

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

Buyers are implementing dual-carrier strategy while engaging with an international player along with a regional supplier. Dual-carrier strategy is preferred to reduce the dependence on a single provider or a specific type of technological solution. It can also provide the freedom and choice to respond to falling service levels and price changes quickly. Competition between suppliers also results in preferential costs, terms and services.

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Risks in Business Cards procurement

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

Procurement without consulting the actual users of Business Cards may result in a mismatch in expectations of the buyer's internal stakeholders versus the actual contract executed
When requirements of the buyers are not absolutely clear or usage patterns are not stable or predictable, suppliers often build in \"cost buffers\" for unforeseen risks due to a lack of complete understanding on buyer's requirements. This increases the risk of overspending on Business Cards
Pricing terms in the contract could prove to be inadequate to safeguard the buyer from impact of a sudden increase in supplier's cost, often arising from a lack of clarity on scope of products or services to be delivered

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Who should read this report

The report is intended to serve as a one-stop reference guide for Business Cards 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 “Business Cards: Procurement Report 101” as well as for category experts actively tracking the global Business Cards procurement market.

You may have just initiated your research to design a winning Business Cards procurement strategy, or you may be a category expert looking for strategic insights and updated data.Either ways, the report has your requirements covered.

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Key questions on Business Cards procurement answered by this report

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!!

The Business Cards 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:

What is the spend potential in the Business Cards market?
What is the correct price to pay for Business Cards? What are the key trends and factors that influence current and future pricing?
Which selection criteria are the most important for Business Cards Suppliers Market?
Who are the top Business Cards suppliers? What are their cost structures?
Which negotiation levers can reduce Business Cards procurement cost ?
What are supplier margins in Business Cards market?
What are the best practices for Business Cards procurement and what are the potential risks?

SpendEdge Insights has helped procurement professionals and sourcing teams manage multiple spend areas and achieve more than $2 billion in savings. Activate your free account today!

Business Cards Category Insights: What is inside

The Business Cards 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.

Data

A key highlight of this report is the in-depth outlook created on Business Cards procurement spend and pricing trends. The report further delves deep into the aspects of cost structure, total cost of ownership and supplier margins for Business Cards. A dedicated section to supplier profiles and evaluation helps decision makers cast a wider procurement net and identify gaps in existing relationships.

Insights

Along with specific category and supplier intelligence, the publication also includes curated insights on Business Cards 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.

Advisory

Additionally, the report also advises on the best practices and strategies to manage the Business Cards 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.

Category Ecosystem

Buyer and supplier ecosystem
Competitiveness index
Buyer and supplier power
Threat of new entrants and substitutes

Global and Regional Sourcing Insights

Category spend
Spend growth
Dynamics
Opportunities

Pricing and Cost Analysis

Pricing outlook and data
Drivers of pricing
Cost structure and inputs cost
Total cost of ownership
Pricing models and margins

Cost Saving Opportunities & Negotiation Strategies

Buyer and supplier side levers
Quantified cost saving opportunities
Negotiation strategies and quantified outcome

Procurement Best Practices, Strategy and Enablers

Procurement excellence
Sustainability and innovation
KPIs and category enablers
Risk management and outsourcing

Vendor Analysis

RFx essentials and selection criteria
SLAs
Supplier evaluation metrics
Detailed supplier profiles

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?”

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Category Research Framework

SpendEdge presents a detailed picture of Business Cards 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.