Flocking Equipment & Supplies Market Procurement Intelligence Report

The market for Engineering Products and Equipment and its sub-segments such as Flocking Equipment & Supplies are at an interesting intersection. 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.

Suppliers are under an enhanced pressure to offer greater quality, options that suit unique requirements and overall experience of the customer stakeholders involved.

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

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

Flocking Equipment & Supplies procurement best practices are moving towards a level of sophistication which is typically seen in traditional procurement categories. Category managers now have an attractive opportunity to adapt the best practices seen within this category as well as those being leveraged in other non-related categories. This report summarizes the best practices picked from across multiple categories that could work well for category managers involved with Flocking Equipment & Supplies procurement strategy.

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 need to evaluate the in-depth expertise of suppliers in the Flocking Equipment & Supplies industry. This can be assessed by considering factors such as the years of experience, number of resources that have multi-year experience of working in the same industry and at least 3 to 5 credentials for the supplier.

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.

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