Jet Engines | Intelligence Report | Procurement.Spendedge

Strategic Sourcing Guide to Jet Engines Procurement

Overview

The market for Transportation Support Services and its sub-segments such as Jet Engines are at an interesting intersection. Technological advancements are enabling providers of Jet Engines to leverage a diverse set of tools and identify resource and cost optimization opportunities in collaboration with the customers.

Even as technological prowess of suppliers is increasing and processes are routinely being digitalized, there is a growing concern around putting critical data and information in the hands of a third party. Buyers are making elaborate contracts that aim to prevent intentional or unintentional data leakage or theft.

Globalization has opened new markets for suppliers. Jet Engines 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.

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

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

For example, Buyers should properly evaluate the effectiveness and sustainability of suppliers' safety process before onboarding them. Suppliers should be required to provide details data on workplace safety KPIs and accident statistics to complete their safety evaluation. This process can reduce accident related risks in the buyer's operations and reputational risks that arise from industrial accidents.

It is important for category managers to track and measure suppliers' performance against a defined set of KPIs (agreed to by both parties during contract negotiation). The result of suppliers' performance can be directly linked to the quality of support provided.

Competitive bidding as a cost optimization tool is extremely potent but should be carefully deployed only when there is no significant differentiation among Jet Engines suppliers.

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Risks in Jet Engines procurement

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

Suppliers may face a situation where they are unable to honor a contract in its entirety due to shortage of resources, finances or capabilities. While contractual terms safeguard buyers from the non-performance, their operations could still face massive disruptions due to suppliers' non-performance
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
Stringency in regulatory standards is high across geographies globally. Changes in these standards can have adverse effects on the industry, as firms may end up paying penalties if they fail to adhere to them

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Who should read this report

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

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

Jet Engines Category Insights: What is inside

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