A buying guide for Footwear category – enriched with research on Footwear procurement spend patterns, Footwear pricing intelligence, market dynamics and top suppliers of Footwear.
GET FREE SAMPLEOur category grouping process defines that the overall Clothing and Textiles market includes all spend related to the procurement of different articles of clothing and textiles used for business operations such as industrial footwear, uniforms and protective clothing and equipment. Dynamics of the global Footwear market play out within this wider arena of Clothing and Textiles market. Therefore, our coverage of the Footwear category also operates within this broader boundary of the overall Clothing and Textiles market.
The market for Clothing and Textiles and its sub-segments such as Footwear are at an interesting intersection. Regulatory changes are taking place more frequently and the changes impact multiple functions within an organization. Alignment of procurement practices and decisions with all the new regulations has now become highly challenging, especially when category managers are responsible to centrally procure for multiple regions with different regulations.Several factors in the value chain of Footwear, such as labor cost, logistics, and energy costs are driving up the procurement costs. Additionally, engagement of suppliers who are still operating with outdated assets, technologies and processes is also increasing the cost for buyers.The global industry has seen a gradual increase in labor cost due to several factors, such as shortage of a trained workforce, increase in minimum wages, regulations around employee benefits and declining appeal for what have been traditionally called unskilled jobs. As the employee expenses increase, suppliers are compelled to pass some of this increase to their buyers by charging higher prices.Trends like these and many others discussed in this report are necessitating a relook at the way Footwear is procured and the procurement cost saving opportunities that exist.
Sometimes, procurement functions are unable to timely alter their practices while responding to market conditions. Industry experts acknowledge that periodically reviewing procurement best practices and adopting learnings from across procurement categories can help procurement teams respond to market needs in a more agile way. This report combines our experience of other categories with Footwear procurement insights and hand picks best practices that can work for category managers delving in this market. For example, Buyers should engage with suppliers that can repurchase the used products at fair market value or can offer recycling capability. This assists buyers to dispose of used products in a convenient manner and honor their sustainability practices. Also, suppliers provide credits to buyers for future purchases. This reduces overall procurement costs for buyers. Buyers need to evaluate the in-depth expertise of suppliers in the Footwear 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. Investing in benchmarking studies helps category managers in enhancing their knowledge on market pricing of products and costing of maintenance and support services). This arms them with better ammunitions for negotiation.
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Footwear procurement managers also need to proactively identify and mitigate potential risks that can arise in the supply chain or contracts for Footwear procurement. Some examples include:
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The report is intended to serve as a one-stop reference guide for Footwear 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 “Footwear: Procurement Report 101” as well as for category experts actively tracking the global Footwear procurement market.
You may have just initiated your research to design a winning Footwear 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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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 Footwear 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:
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The Footwear 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.
A key highlight of this report is the in-depth outlook created on Footwear procurement spend and pricing trends. The report further delves deep into the aspects of cost structure, total cost of ownership and supplier margins for Footwear. A dedicated section to supplier profiles and evaluation helps decision makers cast a wider procurement net and identify gaps in existing relationships.
Along with specific category and supplier intelligence, the publication also includes curated insights on Footwear 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.
Additionally, the report also advises on the best practices and strategies to manage the Footwear 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.
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?”
SpendEdge presents a detailed picture of Footwear 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.
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