Orthodontic Devices | Intelligence Report

Strategic Sourcing Guide to Orthodontic Devices Procurement

Overview

Several macro changes in the dynamics of overall Medical and Surgical Equipment and Supplies as well as Orthodontic Devices procurement trends are poised to change the business practices and procurement thumb rules. Buyers that have multiple locations under management are increasingly opting for a single supplier who can deliver the preferred solutions in a consistent manner across locations. Often suppliers with a physical presence across key geographies are preferred in such cases.

Many suppliers are expanding within the value chain to offer integrated solutions. With this new approach, suppliers can offer a wide portfolio of solutions and position themselves for large contracts that go beyond just Orthodontic Devices. Buyers also find the benefits of volume buying, consolidation of supplier base, efficient co-ordination in case of an event and less spending on category management.

The growing need for highly skilled workforce specialized in Orthodontic Devices is driving suppliers to increase compensation for experience professionals to retain them. This is inflating their OPEX and causing increase in procurement costs.

Category managers need to take note of the potential of these developments and reassess the changes required in their procurement practices.

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

For example, Category buyers should invite bids from all potential service providers that have the ability to meet the overall requirements. Bids must be evaluated based on pre-defined parameters such as financial strength, reputation, offerings, geographical presence, and track record. Buyers can use standard scorecards to evaluate service providers and provide necessary feedback to rationalize the given scores. This helps in the effective documentation of decision-making processes.

It is important for category managers to track and measure the performance of suppliers against a set of defined KPIs that are agreed upon during the contract negotiation phase. The performance of suppliers can also be linked to a portion of their fee that can be paid upon rendering of services in a satisfactory manner.

Large organizations seek engagement with global category suppliers. However, they must try to achieve the right blend of regional and global suppliers in order to ensure the delivery at locations where global players do not have necessary capabilities.

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Risks in Orthodontic Devices procurement

Orthodontic Devices procurement managers also need to proactively identify and mitigate potential risks that can arise in the supply chain or contracts for Orthodontic Devices 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
Procurement without consulting the actual users of Orthodontic Devices may result in a mismatch in expectations of the buyer's internal stakeholders versus the actual contract executed
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 Orthodontic Devices 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 “Orthodontic Devices: Procurement Report 101” as well as for category experts actively tracking the global Orthodontic Devices procurement market.

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

Orthodontic Devices Category Insights: What is inside

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