Coated Road Materials | Suppliers | Pricing Trends , Best Practices

Strategic Sourcing Guide to Coated Road Materials Procurement

Overview

Several macro changes in the dynamics of overall Construction Supplies as well as Coated Road Materials procurement trends are poised to change the business practices and procurement thumb rules. Over the years, regional boundaries have blurred as suppliers foray into different continents, increase their capital expenditure and spend on cross-border M&A initiatives. The deployment of geographic diversification strategies through such consolidation initiatives has enabled the large suppliers to improve their performance and expand their business footprint.

The growing need for smarter and resilient construction has encouraged a rapid implementation of advanced BIM solutions. The integration of 4D BIM and geographical information system (GIS) is helping in improving construction productivity, construction supply chain management, material supplier selection, estimation of deliveries, and overall coordination between construction companies and material suppliers.

Fluctuation in prices of construction materials has made it difficult for project contractors to maintain a steady cost projection on construction projects. Also, the risks associated with project cost overruns are contributing to project delays and abandonment. Procurement functions are more careful while drawing up supplier contracts and insulating their projects from price uncertainties to the extent possible on negotiation tables.

Category managers need to take note of the potential of these developments and reassess the changes required in their procurement practices.

Coated Road Materials Procurement Best Practices

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 Coated Road Materials. To help quick decision making, this report advises on several procurement best practices that have worked well for category managers.

For example, It is highly recommended that buyers prioritize regional suppliers unless the project specifications are extremely sophisticated and require specialized vendors. A regional supplier base enables buyers to have significant negotiation power due to spend consolidation and exhaustive knowledge of the local codes and environmental regulations. It also insulates them from adverse fluctuations in currency exchange rates.

Buyers should invest in benchmarking studies that help them to improve their knowledge of prevalent pricing structures within the industry. This is based on job role and function that allows them to not only save costs but also negotiate better with service providers.

Large firms should prefer to engage in long-term contracts with a preferred set of suppliers that can provide integrated solutions for all scales of projects (small, mid-sized, or large). Partnerships with preferred service providers lead to category-level innovations and enable buyers to avail customized services.

Activate your free account to gain easy access to cutting edge research and insights on consumers, emerging price trends, global and regional suppliers.

Risks in Coated Road Materials procurement

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

Contract-related risks where unfavorable credit terms may severly penalize buyers for delayed payments or entitle the supplier to demand pre-payments or shorten the payment terms are not very common in the category but they do exist in certain situations where buyers' liquidity or financial health is in question
Procurement without consulting the actual users of Coated Road Materials may result in a mismatch in expectations of the buyer's internal stakeholders versus the actual contract executed
Construction projects are exposed to different types of political and regulatory risks depending on the project lifecycle stage, for example, delayed construction permits, community opposition during the planning and construction phases, expropriation and changes to asset-specific regulations, tightened decommissioning requirements and non-renewal of licenses at the end of a contract

For detailed insights and complete access to our report library, activate your free account!

Who should read this report

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

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

SpendEdge Insights Subscription

Unlock SpendEdge's comprehensive procurement report collection with ease through our procurement platform.

Subscribe Now

Key questions on Coated Road Materials 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 Coated Road Materials 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 Coated Road Materials market?
What is the correct price to pay for Coated Road Materials? What are the key trends and factors that influence current and future pricing?
Which selection criteria are the most important for Coated Road Materials Suppliers Market?
Who are the top Coated Road Materials suppliers? What are their cost structures?
Which negotiation levers can reduce Coated Road Materials procurement cost ?
What are supplier margins in Coated Road Materials market?
What are the best practices for Coated Road Materials 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!

Coated Road Materials Category Insights: What is inside

The Coated Road Materials 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 Coated Road Materials procurement spend and pricing trends. The report further delves deep into the aspects of cost structure, total cost of ownership and supplier margins for Coated Road Materials. 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 Coated Road Materials 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 Coated Road Materials 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?”

❮ ❯

Category Research Framework

SpendEdge presents a detailed picture of Coated Road Materials 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.