Dampers Market Procurement Intelligence Report

The market for Engineering Components and its sub-segments such as Dampers are at an interesting intersection. Volatility in the prices of key inputs is creating multiple issues that impact procurement within Dampers category such as benchmarking and budgeting of the procurement costs.

Suppliers of Dampers are moving up the value chain - both organically as well as through M&As. Their portfolios are increasingly being diversified with the objective of offering integrated solutions that go beyond just Dampers. Even buyers are engaging vendors who can act as a one-stop solution provider across their geographic footprint. Such strategic engagements can help buyers with savings associated with economies of scale and management of a much smaller supplier base.

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 Dampers is procured and the procurement cost saving opportunities that exist.

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 Dampers category procurement. The report offers a succinct analysis of Dampers procurement best practices.

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.

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.

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