Lighthouse Services | Intelligence Report

Strategic Sourcing Guide to Lighthouse Services Procurement

Overview

A changing ecosystem within the Transportation Support Services market also affects the procurement process, cost dynamics and supplier attractiveness for the buyers of Lighthouse Services. Several macro level trends such as slowing economic growth, trade conflicts, rising wages and technological disruptions have put pressure on managers to reduce their spend on Lighthouse Services without affecting the performance.

Suppliers are no more just the experts in Lighthouse Services. Many are moving up the value chain and offering integrated services that go beyond just Lighthouse Services. This new business model helps buyers on multiple counts, such as fewer suppliers to manage, cost savings arising of volume buying and long-term strategic partnerships with a chosen few suppliers that maximize the ROI and allow for strategic optimization experiments.

Shortage of skilled manpower is a prime reason to seek suppliers of Lighthouse Services. However, even suppliers of Lighthouse Services are facing the same problem which is impacting their OPEX and thereby pricing structure.

Lighthouse Services Procurement Best Practices

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

For example, 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 Lighthouse Services.

Buyers need to employ robust should-cost models and total cost of ownership models to aid Lighthouse Services supplier selection and pricing negotiations.

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.

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Risks in Lighthouse Services procurement

Lighthouse Services procurement managers also need to proactively identify and mitigate potential risks that can arise in the supply chain or contracts for Lighthouse Services 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
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
The industry is directly linked to economic and political environments. Changes in government policies and economic instability negatively impacts the industry, thereby posing challenges to the suppliers. For instance, changes in tax regulations can affect profit margins of suppliers, thereby hindering their capabilities to offer improved services within the set timelines

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Who should read this report

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

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

Lighthouse Services Category Insights: What is inside

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