Plastic Pallets | Market, Trends, Growth | Suppliers Analysis

Strategic Sourcing Guide to Plastic Pallets Procurement

Overview

A changing ecosystem within the Warehousing and Storage market also affects the procurement process, cost dynamics and supplier attractiveness for the buyers of Plastic Pallets. 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.

Suppliers are increasingly adopting a demand-driven planning of their assets and resources to reduce costs and optimize operational efficiency. Part of the cost savings are passed on to buyers, but this also creates supply chain risks for them that need to be managed jointly with the supplier.

Rise in minimum labor wages across countries such as the US and China will result in increased employee expenses for Plastic Pallets suppliers who will be forced to pass on a part of this increase to their buyers.

Plastic Pallets 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 Plastic Pallets category procurement. The report offers a succinct analysis of Plastic Pallets procurement best practices.

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.

It is important that buyers assess the operating model of service providers to determine the best-fit case for their organizations. Buyers need to determine if services offered by the providers are comprehensive and involve adequate resource support and a well-defined customizable execution plan.

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.

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Risks in Plastic Pallets procurement

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

IT risks related to security breach and malfunction and disruption in the operation of the systems pose significant risks in the category market. Also, there is an increasing competition from startups and technology providers that implement emerging technologies such as big data analytics and IoT that offer platform-based and dedicated delivery solutions pose significant risks to the suppliers
Procurement without consulting the actual users of Plastic Pallets may result in a mismatch in expectations of the buyer's internal stakeholders versus the actual contract executed
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

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Who should read this report

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

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

Plastic Pallets Category Insights: What is inside

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