Printed Wire Boards Market Procurement Intelligence Report

A changing ecosystem within the Engineering Components market also affects the procurement process, cost dynamics and supplier attractiveness for the buyers of Printed Wire Boards. Markets across the globe are reeling under shortage of professionals and workforce that have relevant skills and training. Minimum wages and stringent regulations are compelling suppliers to increase their employee expenses which are expected to have an inflationary impact on buyers' procurement cost.

Suppliers are under an enhanced pressure to offer greater quality, options that suit unique requirements and overall experience of the customer stakeholders involved.

Suppliers of Printed Wire Boards are moving up the value chain - both organically as well as through M&As. Their portfolios are increasingly being diversified with the objective of offering integrated solutions that go beyond just Printed Wire Boards. Even buyers are engaging vendors who can act as a one-stop solution provider across their geographic footprint. Such strategic engagements can help buyers with savings associated with economies of scale and management of a much smaller supplier base.

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 Printed Wire Boards category procurement. The report offers a succinct analysis of Printed Wire Boards procurement best practices.

For example, Buyers should engage with suppliers that have adopted a global delivery model as it reduces buyers' risk. In this model, any disaster/emergency at any operating facility of supplier will result in the work being transferred to a different facility, thereby ensuring continuity of the project and reduced risk for buyers. This model also provides buyers access to skilled labor from across the globe, thereby improving the quality of engineering products provided by the supplier.

Buyers should engage with suppliers that repurchase used products at fair market value. This assists buyers to dispose of used products in a convenient manner. Also, during such repurchases, suppliers provide credits to buyers for future purchases. This reduces overall procurement costs for buyers.

Buyers need to evaluate the in-depth expertise of suppliers in the Printed Wire Boards industry. This can be assessed by considering factors such as the years of experience, number of resources that have multi-year experience of working in the same industry and at least 3 to 5 credentials for the supplier.

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