Pre Form Therm Trays Category Procurement Intelligence Report

Several macro changes in the dynamics of overall Warehousing and Storage as well as Pre Form Therm Trays procurement trends are poised to change the business practices and procurement thumb rules. Rise in minimum labor wages across countries such as the US and China will result in increased employee expenses for Pre Form Therm Trays suppliers who will be forced to pass on a part of this increase to their buyers.

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.

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

Sometimes, procurement functions are unable to timely alter their practices while responding to market conditions. Industry experts acknowledge that periodically reviewing procurement best practices and adopting learnings from across procurement categories can help procurement teams respond to market needs in a more agile way. This report combines our experience of other categories with Pre Form Therm Trays procurement insights and hand picks best practices that can work for category managers delving in this market.

For example, 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.

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.

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.

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