Herbicides | Intelligence Report | Procurement.Spendedge

Strategic Sourcing Guide to Herbicides Procurement

Overview

The market for Environmental Goods and its sub-segments such as Herbicides are at an interesting intersection. Several factors in the value chain of Herbicides, 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 Additionally, engagement of suppliers who are still operating with outdated assets, technologies and processes is also increasing the cost for buyers.

Several structural changes including M&As and vertical integration efforts of suppliers are characterizing the broader market. Such strategic developments can erode the strength of previously established supplier relationships due to changed realities in the supplier's ecosystem. At the same time, buyers may also find opportunities to onboard new suppliers with a wider range of offerings or better contract terms for .

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.

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

Herbicides Procurement Best Practices

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 Herbicides. To help quick decision making, this report advises on several procurement best practices that have worked well for category managers.

For example, 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.

Suppliers that have an in-house maintenance and support team should be preferred. This will ensure that maintenance and aftersales support will be provided to the buyer at reduced rates by service providers.

While competitive bidding as a cost optimization tool is extremely potent but should be carefully deployed only when there is no significant differentiation among Herbicides suppliers.

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Risks in Herbicides procurement

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

The minimal infrastructure development for logistics in several parts of the world portrays a challenge for suppliers to maintain the standardization of logistics of materials
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
When requirements of the buyers are not absolutely clear or usage patterns are not stable or predictable, suppliers often build in \"cost buffers\" for unforeseen risks due to a lack of complete understanding on buyer's requirements. This increases the risk of overspending on Herbicides

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Who should read this report

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

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

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Herbicides Category Insights: What is inside

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