Intellectual Property Acquisition | Market, Trends, Growth | Suppliers Analysis

Strategic Sourcing Guide to Intellectual Property Acquisition Procurement

Overview

Legal market around the world is undergoing rapid transitions that have a massive potential to influence the way companies strategize for Intellectual Property Acquisition procurement and the cost they have to incur. Talent pools available to suppliers of Intellectual Property Acquisition are gradually getting costlier, impacting their OPEX. Suppliers are compelled to change their pricing structure and pass on some of this cost increase to their customers.

Lack of skilled in-house manpower continues to be the largest factor for hiring of Intellectual Property Acquisition.

New locations and vendors are emerging as cost effective suppliers of Intellectual Property Acquisition, offering an opportunity to widen the supplier base and gain further negotiation leverage with incumbent suppliers.

Intellectual Property Acquisition Procurement Best Practices

The report discusses in detail the best practices that have served well the category managers responsible for Intellectual Property Acquisition procurement.

For example, Adequate RFP response time should be built in for prospective suppliers to enable them understand the scope and performance requirements.

Buyers should set a baseline against which the performance of suppliers can be benchmarked along with setting measurable/quantifiable KPIs. Defined KPIs provides suppliers with clarity on the scope. Besides setting standards for operations, pricing, and performance, KPIs must provide tangible goals in terms of the quality of solutions.

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 Intellectual Property Acquisition.

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Risks in Intellectual Property Acquisition procurement

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

Pricing terms in the contract could prove to be inadequate to safeguard the buyer from impact of a sudden increase in supplier's cost, often arising from a lack of clarity on scope of products or services to be delivered
Service providers depend on their personnel's expertise and business acumen to achieve high business growth. Competition for acquiring experienced professionals is extremely high in the market. They need to incorporate effective measures to retain talent as well as implement succession planning strategies
Procurement without consulting the actual users of Intellectual Property Acquisition may result in a mismatch in expectations of the buyer's internal stakeholders versus the actual contract executed

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Who should read this report

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

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

Intellectual Property Acquisition Category Insights: What is inside

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