Foils | Market, Trends, Growth | Suppliers Analysis

Strategic Sourcing Guide to Foils Procurement

Overview

Warehousing and Storage market around the world is undergoing rapid transitions that have a massive potential to influence the way companies strategize for Foils procurement and the cost they have to incur. Businesses are focused on maintaining a lean inventory of raw materials, parts, components and finished goods. While it is a novel concept to keep the inventory costs in check, it also highly challenging to implement in a global sourcing context and requires a clock work like optimization of logistics and warehousing processes. Companies are moving to a completely digital supply chain footprint to reduce errors and risks associated with such strategies.

Large global suppliers are entering into JVs and M&As with vendors that can provide them a solid footing for regional play.

Rise in minimum labor wages across countries such as the US and China will result in increased employee expenses for Foils suppliers who will be forced to pass on a part of this increase to their buyers.

Foils Procurement Best Practices

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

For example, Buyers should enter in long-term partnerships and collaborative relationships with service providers to benefit from economies of scale and reduced cost. Long-term contracts are established to avoid renewal costs and avoid time spent on renegotiation.

Buyers prefer to engage with service providers that offer robust technological systems and leverage Internet-based systems to reduce cost and simplify visibility across the supply chain. Buyers should also assess the integration capabilities of software platforms offered by service providers to ensure that there are no additional costs incurred for software implementation.

Buyers should assess service providers' capability of predicting the weather, traffic, and other real-time information, which might affect shipments that are in transit or in its delivery times.

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Risks in Foils procurement

Foils procurement managers also need to proactively identify and mitigate potential risks that can arise in the supply chain or contracts for Foils 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
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
IT risks related to security breach and malfunction and disruption in the operation of the systems pose significant risks in the category market. Also, there is an increasing competition from startups and technology providers that implement emerging technologies such as big data analytics and IoT that offer platform-based and dedicated delivery solutions pose significant risks to the suppliers

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Who should read this report

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

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

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

Foils Category Insights: What is inside

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

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Category Research Framework

SpendEdge presents a detailed picture of Foils 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.