Refrigerant Recovery Services | Suppliers | Pricing Trends , Best Practices

Strategic Sourcing Guide to Refrigerant Recovery Services Procurement

Overview

Several macro changes in the dynamics of overall Operation of Industrial Facilities as well as Refrigerant Recovery Services procurement trends are poised to change the business practices and procurement thumb rules. Suppliers have historically gained handsome margin-on-margin by sub-contracting a part of their work to another contractor. However, Buyers are now delving deep into the business models of suppliers and negotiating hard to avoid further sub-contracting. In cases where it is imperative to sub-contract, category managers are employing should-cost models to keep supplier margins on sub-contracting to the minimal.

A balanced approach to procurement of Refrigerant Recovery Services has emerged, where buyers with multiple locations first outsource at individual locations and gradually move to standardize and consolidate the services across facilities.

Outsourcing of Refrigerant Recovery Services now represents a significant part of the global spend on this category, driven by value derived and a growing number of vendors who keep innovating with new services and value propositions.

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

Refrigerant Recovery Services 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 Refrigerant Recovery Services category procurement. The report offers a succinct analysis of Refrigerant Recovery Services procurement best practices.

For example, Category managers must explore opportunities to integrate planning and management activities of categories using analytics, to gain better control over category spend. This will also allow them to consolidate their supply base easily, as well as to segment suppliers based on requirements and spend on each supplier.

Buyers should set a baseline against which the performance of suppliers can be benchmarked along with setting measurable/quantifiable KPIs. Defined KPIs provides suppliers with clarity on the scope. Besides setting standards for operations, pricing, and performance, KPIs must provide tangible goals in terms of the quality of solutions.

Buyers should evaluate the true costs of each product and service within the scope of work for supplier, and also understand the hidden costs associated. This can help them to set accurate targets for cost reduction for their suppliers, and effectively monitor and evaluate their performance against industry benchmarks.

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Risks in Refrigerant Recovery Services procurement

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

Suppliers regularly outsource services such as housekeeping and food services to the third-party vendors. However, when third- party vendors fail to offer service due to technical or operational constraints, this results in significant losses to the buyers
Contract-related risks where unfavorable credit terms may severly penalize buyers for delayed payments or entitle the supplier to demand pre-payments or shorten the payment terms are not very common in the category but they do exist in certain situations where buyers' liquidity or financial health is in question
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 Refrigerant Recovery Services 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 “Refrigerant Recovery Services: Procurement Report 101” as well as for category experts actively tracking the global Refrigerant Recovery Services procurement market.

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

Refrigerant Recovery Services Category Insights: What is inside

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