The report provides a comprehensive coverage on Ocean Freight category spend growth and regional spend segmentation insights, Ocean Freight price trends and Ocean Freight suppliers analysis.
GET FREE SAMPLEThis report on global Ocean Freight category is part of a larger series of reports on global Transport market. The scope of Transport spans multiple categories and is typically identified as a procurement category that includes all spend related to transportation of goods and materials using a single transport medium or multi-modal transport.
A changing ecosystem within the Transport market also affects the Ocean Freight procurement strategies, processes, cost dynamics and supplier attractiveness. Businesses are focused on maintaining a lean inventory of raw materials, parts, components and finished goods. While it is a novel concept to keep the inventory costs in check, it also highly challenging to implement in a global sourcing context and requires a clock work like optimization of logistics and warehousing processes. Companies are moving to a completely digital supply chain footprint to reduce errors and risks associated with such strategies.Managing the Ocean Freight procurement challenges and building a resilient supply chain has taken the center-stage among corporate priorities. Companies are investing heavily to be able to detect disruptions in time and respond in a manner which does not put the core operations at risk. All Ocean Freight suppliers within the ecosystem are expected to play their part and embrace the processes, tools and technologies that their customers have implemented to build a resilient supply chain.Service providers have begun to use advanced technologies and tools such as loT, predictive analysis and big data for optimal asset utilization, geofencing, warehouse management, and smart inventory management. The efficiencies gained by using new technology and improvement in customer service capabilities are significant. More and more suppliers are moving towards adopting these technologies to realize significant efficiency gains in the longer run, however, it may also increase their OPEX in the short run.
Ocean Freight market 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 Ocean Freight procurement strategy. For example, Buyers should negotiate for administrative control over all technological systems that contain critical data. This will ensure 100% transparency and visibility over logistics operations. In addition, buyers should demand visibility across the entire supply chain using real-time metrics such as mobile and telematics systems. Managing the Ocean Freight procurement challenges and building a resilient supply chain has taken the center-stage among corporate priorities. Companies are investing heavily to be able to detect disruptions in time and respond in a manner which does not put the core operations at risk. All Ocean Freight suppliers within the ecosystem are expected to play their part and embrace the processes, tools and technologies that their customers have implemented to build a resilient supply chain. Service providers have begun to use advanced technologies and tools such as loT, predictive analysis and big data for optimal asset utilization, geofencing, warehouse management, and smart inventory management. The efficiencies gained by using new technology and improvement in customer service capabilities are significant. More and more suppliers are moving towards adopting these technologies to realize significant efficiency gains in the longer run, however, it may also increase their OPEX in the short run.
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Procurement managers responsible for Ocean Freight procurement strategies also need to proactively identify and mitigate potential risks that can arise in the supply chain or contracts for Ocean Freight procurement. Some examples include:
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 Ocean Freight procurement challenges. 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
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The report is intended to serve as a one-stop reference guide for Ocean Freight procurement opportunities and offers a perfect blend of category basics with deep-dive category data and insights. Therefore, it is ideal for category beginners looking for “Ocean Freight: Procurement Intelligence Report 101” as well as for category experts actively tracking the global Ocean Freight procurement market.
You may have just initiated your research to design winning Ocean Freight procurement strategies, or you may be a category expert looking for strategic insights and updated data.Either ways, the Ocean Freight procurement report has your requirements covered.
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The Ocean Freight procurement intelligence 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:
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The Ocean Freight procurement intelligence 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.
A key highlight of this report is the in-depth outlook created on Ocean Freight procurement spend and pricing trends. The report further delves deep into the aspects of cost structure, total cost of ownership and supplier margins for Ocean Freight. A dedicated section to supplier profiles and evaluation helps decision makers cast a wider procurement net and identify gaps in existing relationships.
Along with specific category and supplier intelligence, the publication also includes curated insights on Ocean Freight 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.
Additionally, the report also advises on the best practices and strategies to manage the Ocean Freight category efficiently. Negotiation levers and Ocean Freight procurement 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.
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?”
SpendEdge presents a detailed picture of Ocean Freight 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.
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