Convertors Market Procurement Intelligence Report

The report provides a comprehensive coverage on Convertors category spend growth and regional spend segmentation insights, Convertors price trends and Convertors supply market analysis.

GET FREE SAMPLE

Scope of the report

Convertors is an essential part of the Engineering Components category which includes all spend related to the provision of components related to the operation of industrial and engineering services, including electrical components, machine parts, manufacturing components and structural products.

KEY PROCUREMENT INSIGHTS COVERED

Strategic Sourcing Guide to Convertors Procurement

Overview

The market for Engineering Components and its sub-segments such as Convertors are at an interesting intersection. Several structural changes including M&As and vertical integration efforts of suppliers are characterizing the broader market. Such strategic developments can erode the strength of previously established supplier relationships due to changed realities in the supplier's ecosystem. At the same time, buyers may also find opportunities to onboard new suppliers with a wider range of offerings or better contract terms for .

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 Additionally, outdated assets are also increasing the cost for suppliers.

Customers are expecting service and experience levels which are at par with what ecommerce and consumer sectors of today offer. Moreover, competition keeps intensifying and demand and supply dynamics keep shifting.

Trends like these and many others discussed in this report are necessitating a relook at the way Convertors is procured and the procurement cost saving opportunities that exist.

Convertors Procurement Best Practices

The report discusses in detail the best practices that have served well the category managers responsible for Convertors procurement.

For example, Buyers should assess the level of adoption of the latest technologies by suppliers to assess cost-saving opportunities and quality that can be provided by the latter. For instance, the adoption of technologies such as cloud computing will enable suppliers to reduce their internal computing hardware requirements for operations such as CAD and CAM. This can, in turn, enable them to reduce their operating costs, thereby suppliers can offer products at lower rates to buyers.

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 must have a clear understanding of the subcontracting policies, if any, of Convertors suppliers. Factors such as cost incurred, service quality, adherence to timelines, and regulatory compliance of subcontractors employed by suppliers should be carefully assessed prior to engagement.


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 Convertors procurement

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


  • Suppliers may face a situation where they are unable to honor a contract in its entirety due to shortage of resources, finances or capabilities. While contractual terms safeguard buyers from the non-performance, their operations could still face massive disruptions due to suppliers' non-performance
  • Crude oil is one of the major factors that determines the risks associated with the category as fuel costs account for a major portion of the suppliers' cost structure. Volatility in the prices of crude oil significantly impacts the overall costs incurred in the category
  • Political and regulatory changes pose significant risks to the category. For instance, imposition of tariffs on raw materials required to manufacture the finished goods increases costs. Similarly, restrictions on import of goods or raw materials from a particular country also contributes to significant risks. Additionally, insufficient IPR protection and product liability lawsuits lead turnout to be huge risk factors for the category

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

Who should read 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!!

    You may have just initiated your research to design a winning Convertors 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 Convertors 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 “Convertors: Procurement Report 101” as well as for category experts actively tracking the global Convertors procurement market.

SpendEdge Insights Subscription

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


Key questions on Convertors procurement answered by this report


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

Convertors Category Insights: What is inside

The Convertors 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 Convertors procurement spend and pricing trends. The report further delves deep into the aspects of cost structure, total cost of ownership and supplier margins for Convertors. 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 Convertors 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 Convertors 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 Convertors 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.

Information Sources


Primary research
Secondary research
Procurement heads
Industry journals and reports
Category managers
Periodicals and new articles
Sourcing consortium professionals
Category webinars
Industry experts and thought leaders
Internal categiry playbooks
Procurement managers
Industry/government websites on regulations, compliance
Category heads of suppliers
Internal databases
Client account heads/managers
Industry blogs/thought leader briefings
Client and industry consultants

Related reports

Global Printed Wire Boards Market - Procurement Intelligence Report

Global Discrete Components Market - Procurement Intelligence Report

Global HVAC Cooling Equipment Market - Procurement Intelligence Report

Global Protectors And Suppressors Market - Procurement Intelligence Report

Global Panels Market - Procurement Intelligence Report

Global Controllers Market - Procurement Intelligence Report

Global Lithium-Ion Batteries Market - Procurement Intelligence Report

Global Graphite Nipple Market - Procurement Intelligence Report

Global Electronic Fire Evacuation Systems Market - Procurement Intelligence Report

Read More

Access this report and our entire procurement platform | Plans starting from USD 3000/ Year Buy Now

Copyright © 2024 Infiniti Research Limited. All Rights Reserved. Privacy NoticeTerms of UseSales and Subscription