Ink Products | Intelligence Report | Procurement.Spendedge

Strategic Sourcing Guide to Ink Products Procurement

Overview

A changing ecosystem within the Office Supplies market also affects the procurement process, cost dynamics and supplier attractiveness for the buyers of Ink Products. Recent advances in information technology and online commerce have allowed buyers to increasingly utilize e-auctioning as a mechanism to reduce costs across the value chain. E-auctioning allows buyers to reduce the procurement lead times, increase their supplier base and connect with sellers and intermediaries simultaneously.

As a smaller indirect spend category, has largely escaped the intense scrutiny and analysis that procurement functions extend to most direct spend categories. However, some of the suppliers have begun to offer intelligent solutions to procure and analyze expenditure on each of the items so that effective budgeting can be done. Given the trend, more vendors are expected to offer such tools to buyers.

Globalization has opened new markets for suppliers. Ink Products market was historically a localized industry, but many geographies have seen introduction of new, foreign players who brought with them a new set of business practices and value propositions. Influx of this new competition has forced the traditional local suppliers to innovate and enhance their offerings to match the new benchmarks.

Ink Products Procurement Best Practices

Ink Products 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 Ink Products procurement strategy.

For example, Competitive bidding as a cost optimization tool is extremely potent but should be carefully deployed only when there is no significant differentiation among Ink Products suppliers.

Buyers must accumulate essential data across their information systems and suppliers to create benchmarks for cost, quality and service levels for Ink Products suppliers.

Advanced data analytics systems should be actively used to identify compliance issues, demand, and price tracking.

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Risks in Ink Products procurement

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

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 Ink Products
Procurement without consulting the actual users of Ink Products may result in a mismatch in expectations of the buyer's internal stakeholders versus the actual contract executed
Offsite storage facilities face the risk of natural disasters such as earthquakes and floods that can lead to huge business losses. Hence, buyers should choose storage facilities based on climate control measures adopted, location of facilities, and fire suppression systems

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Who should read this report

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

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

Ink Products Category Insights: What is inside

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