Guarding Services | Market, Trends, Growth | Suppliers Analysis

Strategic Sourcing Guide to Guarding Services Procurement

Overview

The market for Operational Services and its sub-segments such as Guarding Services are at an interesting intersection. Supplier evaluation and performance management is now being driven by select KPIs that serve as hard evidence to support cost reduction. Suppliers of Guarding Services are developing targeted KPI matrix that help with actionable data on their performance and cost savings they achieved for the customer.

Several macro level trends such as slowing economic growth, trade conflicts, rising wages and technological disruptions have put pressure on managers to reduce their spend on Guarding Services without affecting the performance.

Companies are putting a great premium on sustainability and green practices within their entire value chain and business operations. Suppliers are not only expected to understand these practices but also demonstrate a solid history of abiding to similar principles.

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

Guarding Services Procurement Best Practices

Guarding Services 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 Guarding Services procurement strategy.

For example, Cost saving opportunities may reduce exponentially in relation to the time left for current contract to expire or required timeline to start the engagement. Therefore sufficient interval should exist between initation of new procurement and expected start date of the new contract for Guarding Services.

There is a shift in focus toward minimizing emissions and energy usage to achieve sustainability goals. Buyers should monitor and evaluate the energy consumption of suppliers' operations before procurement. This also helps adherence with standards mandated by various national and international regulatory authorities.

Large organizations are optimizing category spend by eliminating tail-spend service providers and engaging with a single service provider to meet buyers' needs. Buyers generally prefer to engage with preferred global suppliers. However, if global suppliers do not have an operational presence in a specified country, buyers should engage with local/regional service providers.

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Risks in Guarding Services procurement

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

Procurement without consulting the actual users of Guarding Services may result in a mismatch in expectations of the buyer's internal stakeholders versus the actual contract executed
The market is labor-intensive in nature. This exposes the service providers to risks such as labor strikes and unrest in various aspects of their business such as mining facilities and other industrial facilities. Such circumstances may result in inconsistency and delay in offering services to buyers and completing the project in time
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

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Who should read this report

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

You may have just initiated your research to design a winning Guarding Services 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 Guarding Services 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 Guarding Services 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 Guarding Services market?
What is the correct price to pay for Guarding Services? What are the key trends and factors that influence current and future pricing?
Which selection criteria are the most important for Guarding Services Suppliers Market?
Who are the top Guarding Services suppliers? What are their cost structures?
Which negotiation levers can reduce Guarding Services procurement cost ?
What are supplier margins in Guarding Services market?
What are the best practices for Guarding Services procurement and what are the potential risks?

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Guarding Services Category Insights: What is inside

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