Fire Protection Equipment And Supplies Market Procurement Intelligence Report

A changing ecosystem within the Emergency and Rescue Equipment and Supplies market also affects the procurement process, cost dynamics and supplier attractiveness for the buyers of Fire Protection Equipment And Supplies. Increasing regulatory impetus on workplace safety, building safety management and employee safe being has required organizations to place additional focus on procurement of solutions that ensure adequate response in the time of an adverse event. Emerging markets, where regulations have been traditionally lax, are also catching up to the standards prevalent in matured geographies. As a result, Fire Protection Equipment And Supplies category has seen a healthy growth in spend.

Many suppliers are expanding within the value chain to offer an integrated solution. With this new approach, suppliers can offer a wide portfolio of solutions and position themselves for large contracts that go beyond just Fire Protection Equipment And Supplies. Buyers also find the benefits of volume buying, consolidation of supplier base, efficient co-ordination in case of an event and less spending on category management.

New locations and vendors are emerging as cost effective suppliers of Fire Protection Equipment And Supplies, offering an opportunity to widen the supplier base and gain further negotiation leverage with incumbent suppliers.

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 Fire Protection Equipment And Supplies. To help quick decision making, this report advises on several procurement best practices that have worked well for category managers.

For example, Buyers should engage with suppliers that have the capacity to provide practice simulations and demonstrations. Effective simulations and dry-runs, involving all standard operating procedures must take place at least once or twice a year to take an account of the possible impact on the business. It is important to understand and address potential weaknesses in the solution before any real crisis starts taking shape.

Buyers must accumulate essential data across their information systems and suppliers to create benchmarks for cost, quality and service levels for Fire Protection Equipment And Supplies suppliers.

Competitive bidding as a cost optimization tool is extremely potent but should be carefully deployed only when there is no significant differentiation among Fire Protection Equipment And Supplies suppliers.

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