Lettering Aids Market Procurement Intelligence Report

The market for Office Supplies and its sub-segments such as Lettering Aids are at an interesting intersection. Service providers are incurring incremental expenditure on technology with the procurement and operation of advanced technologies and software to improve efficiencies and better serve the customers. Increasing technology-related expenditure is expected to have an inflationary impact on the procurement price offered to the buyers.

In a fragmented market, where differentiation is difficult to achieve, pricing is more often set by the level of competition. One of the major challenges faced by the global suppliers is the intense competition which is frequently leading to over-discounting.

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.

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

Lettering Aids 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 Lettering Aids procurement strategy.

For example, Buyers should engage with suppliers that can offer environment-friendly solutions that help reduce the carbon footprint. Some examples are products made from natural resins, recycled plastics, and wood from managed forests which are often ignored by SMEs/unorganized suppliers.

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

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

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