Pallet Film Category Procurement Intelligence Report

Business practices within Pallet Film market are heavily influenced by changing trends across the category as well as within the broader Warehousing and Storage market. Large global suppliers are entering into JVs and M&As with vendors that can provide them a solid footing for regional play.

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.

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.

As a result, category managers need to closely monitor the Pallet Film procurement trends and identify changes required in their procurement environment for the category.

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 Pallet Film category procurement. The report offers a succinct analysis of Pallet Film procurement best practices.

For example, Buyers should negotiate to get the best add-on services from their suppliers, such as real-time tracking, route optimization, big data analytics to plan and forecast future requirements and Six Sigma practices to ensure the procurement of quality services.

Buyers need to assess the level of automation provided and time required to obtain process efficiency, apart from checking if suppliers have the correct documentation for as-is processes and to-be processes to avoid any conflicts in implementation.

It is important for category managers to track and measure supplier performance against a defined set of KPIs that are agreed upon by both parties during contract negotiation, including inventory accuracy, dock-to-stock, and on-time shipment. This is critical to ensure the optimal level of service. Suppliers' performance can also be linked to a part of their fee, which can be paid depending on the level of services rendered.

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