Irrigation Equipment | Intelligence Report

Strategic Sourcing Guide to Irrigation Equipment Procurement

Overview

A changing ecosystem within the Construction Supplies market also affects the procurement process, cost dynamics and supplier attractiveness for the buyers of Irrigation Equipment. Suppliers across the value chain are increasing their investments in technologies and incorporating systems integrated with IoT, AI, Big data, and data analytics to generate efficiencies and better serve the evolving demand patterns of buyers. This is expected to impact the cost structure of suppliers in the short-term but will help bring down the costs in longer run as suppliers recover the costs of current investment cycles.

Over the years, regional boundaries have blurred as suppliers foray into different continents, increase their capital expenditure and spend on cross-border M&A initiatives. The deployment of geographic diversification strategies through such consolidation initiatives has enabled the large suppliers to improve their performance and expand their business footprint.

Construction activities and manufacturing of construction supplies are known to be a large source of emissions across the world. Regulatory and social pressures to keep emissions in check have transformed the way construction industry operates. Sustainable practices have penetrated the traditional business processes. There is an increasing demand for green buildings, low carbon concretes and other low emission construction aggregates and renewable energy solutions. All these factors are contributing to a significant change in the procurement standards and practices within the category.

Irrigation Equipment Procurement Best Practices

The report discusses in detail the best practices that have served well the category managers responsible for Irrigation Equipment procurement.

For example, Buyers should prefer working with suppliers who can bring in specialized solutions for their specific industries to ensure comprehensive delivery of construction related services to buyers.

Large firms should prefer to engage in long-term contracts with a preferred set of suppliers that can provide integrated solutions for all scales of projects (small, mid-sized, or large). Partnerships with preferred service providers lead to category-level innovations and enable buyers to avail customized services.

Buyers should engage with service providers that offer a wide portfolio and can act as a one-stop solution provider for multifaceted requirements of projects. This enables buyers to save significant costs and increases their spend visibility.

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Risks in Irrigation Equipment procurement

Irrigation Equipment procurement managers also need to proactively identify and mitigate potential risks that can arise in the supply chain or contracts for Irrigation Equipment 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 Irrigation Equipment
Inaccurate estimates of resources and timelines, poor project planning, increase in scope of the project, changes and variations in the project or lack of clarity on responsibilities/ scope of work may result in buyers incurring additional cost on the project that exceeds their planned budget
Procurement without consulting the actual users of Irrigation Equipment 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 Irrigation Equipment 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 “Irrigation Equipment: Procurement Report 101” as well as for category experts actively tracking the global Irrigation Equipment procurement market.

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

Irrigation Equipment Category Insights: What is inside

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