Coagulator Market Procurement Intelligence Report

A changing ecosystem within the Engineering Products and Equipment market also affects the procurement process, cost dynamics and supplier attractiveness for the buyers of Coagulator. 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.

Technology is improving productivity and creating fresh demand. Convergence of data science, automation tools, 3D printing, robotics, AI and big data has opened up multiple possibilities to better serve customers at a lower operational cost.

Volatility in the prices of key inputs is creating multiple issues that impact procurement within Coagulator category such as benchmarking and budgeting of the procurement costs.

As market conditions become more dynamic and procurement practices get more sophisticated, category managers need to be cognizant of the best practices that work for their Coagulator category procurement. The report offers a succinct analysis of Coagulator procurement best practices.

For example, Buyers should engage with suppliers that have recycling capability. Recycling capability of the suppliers will lower their production costs which will be passed on to buyers. Additionally, the recycling capability will contribute in furthering the sustainability goals of the buyers' organization.

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.

Strong R&D focus is the sign of a supplier committed to enhancing the quality and cost proposition of its solutions. Buyers should collaborate with such suppliers for development of low-cost but highly efficiency products that can bring their OPEX down.

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