Meat Ingredients | Market, Trends, Growth | Suppliers Analysis

Strategic Sourcing Guide to Meat Ingredients Procurement

Overview

The market for Warehousing and Storage and its sub-segments such as Meat Ingredients are at an interesting intersection. Rise in minimum labor wages across countries such as the US and China will result in increased employee expenses for Meat Ingredients suppliers who will be forced to pass on a part of this increase to their buyers.

Sustainability has emerged as a pivotal theme for procurement decisions related to supply chain. Companies are expecting their suppliers to internalize globally accepted sustainability practices and demonstrate a solid history of putting in practice similar principles. It is worth noting that practices of sustainability are not limited to only environmental impact but has taken a greater meaning of practices that can reduce the overall cost of operations in the long term.

Cyber security has emerged as a top priority within logistics and supply chain ecosystems. New accountability standards are emerging for the way suppliers and buyers collaborate and protect sensitive information and assets.

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

Meat Ingredients Procurement Best Practices

As market conditions become more dynamic and procurement practices get more sophisticated, category managers need to be cognizant of the best practices that work for their Meat Ingredients category procurement. The report offers a succinct analysis of Meat Ingredients procurement best practices.

For example, Buyers need to discuss business goals and strategic imperatives with service providers to understand their mode of operation and establish control over important parameters of the supply chain.

Buyers must track suppliers' quality management systems to ensure that the products are stored in a hygienic environment and have almost zero probability of occurrence of damages. This is particularly critical for buyers in industries such as food and beverages and pharmaceutical.

Buyers should assess service providers' capability of predicting the weather, traffic, and other real-time information, which might affect shipments that are in transit or in its delivery times.

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Risks in Meat Ingredients procurement

Meat Ingredients procurement managers also need to proactively identify and mitigate potential risks that can arise in the supply chain or contracts for Meat Ingredients 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
The category is highly impacted by the global economic factors. Economic downturn and political upheaval, particularly in major international markets such as the US and China, results in huge uncertainties. Uncertainty in customer demand owing to changes in freight and shipping market from general economic fluctuations and decline in international freight demand negatively impact the category
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

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Who should read this report

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

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

Meat Ingredients Category Insights: What is inside

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