A purchasing guide for Illustrations – rich advisory on spend outlook in Illustrations, pricing analysis for Illustrations procurement cost benchmarking, negotiation strategies and key vendors of Illustrations.
GET FREE SAMPLEIllustrations is an essential part of the Advertising category which includes all spend related to the provision of advertising services and distribution of advertising. The production of printed advertising materials is typically excluded unless the advertising service provider is also responsible for production.
The market for Advertising and its sub-segments such as Illustrations are at an interesting intersection. Buyers are moving towards longer contract durations and strategic partnerships with suppliers to benefit from value-based discounts, integrated services, low renewal cost and lesser expenses on contracting activities.An intense competition in the supply market owing to new entrants is expected to provide more procurement options to buyers for Illustrations and offer significant negotiation leverage.In recent years, the market has witnessed a significant number of strategic collaborations, mergers, and acquisitions. Such developments have enabled the suppliers to expand their portfolio of offerings, geographic presence, and value chain. Moreover, suppliers have also gained access to new technologies and resources.Trends like these and many others discussed in this report are necessitating a relook at the way Illustrations 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 Illustrations procurement insights and hand picks best practices that can work for category managers delving in this market. For example, Service providers often hire subcontractors to assist in certain aspects of a project. Buyers must ensure that subcontractors are bound by the same terms and conditions that main service providers adhere to. Buyers should also ensure that the project budget does not exceed while negotiating with subcontractors. While engaging with a service provider, buyers should procure creative services from a tier 1 creative agency and outsource the production work to a local agency to reduce billing rates. Buyers should engage in long-term contracts with service providers to gain value additions and other benefits. Engaging in long-term contracts reduces the total cost of ownership, for buyers, for the service delivered.
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Illustrations procurement managers also need to proactively identify and mitigate potential risks that can arise in the supply chain or contracts for Illustrations procurement. Some examples include:
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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!!
You may have just initiated your research to design a winning Illustrations procurement strategy, or you may be a category expert looking for strategic insights and updated data.Either ways, the report has your requirements covered.
The report is intended to serve as a one-stop reference guide for Illustrations 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 “Illustrations: Procurement Report 101” as well as for category experts actively tracking the global Illustrations procurement market.
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The Illustrations 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 Illustrations 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 Illustrations procurement spend and pricing trends. The report further delves deep into the aspects of cost structure, total cost of ownership and supplier margins for Illustrations. 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 Illustrations 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 Illustrations 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 Illustrations 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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