Riser Management Services Market Procurement Intelligence Report

Business Support market around the world is undergoing rapid transitions that have a massive potential to influence the way companies strategize for Riser Management Services procurement and the cost they have to incur. Many companies are looking to engage Riser Management Services supplies in a long-term partnership to derive the highest ROI possible and creating an environment of trust and collaboration that allows for new optimization strategies.

Several macro level trends such as slowing economic growth, trade conflicts, rising wages and technological disruptions have put pressure on managers to reduce their spend on Riser Management Services without affecting the performance.

Suppliers are shedding the category expert tag and moving up the value chain to offer an integrated approach to their services. With this new approach, suppliers can offer a wide portfolio of services and position themselves for large contracts that go beyond just Riser Management Services.

It has become imperative for category managers to remain as agile as possible in terms of their procurement practices. However, it is not always easy to quickly spot and implement alternative practices in a category like Riser Management Services. To help quick decision making, this report advises on several procurement best practices that have worked well for category managers.

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.

Benefits of an integrated program are more apparent over a period of 5-7 years, and the goal in such relationships is to achieve cost savings and improve performance in the long run. Buyers should opt for suppliers that have a track record of long-term engagements as this will increase the probability of these suppliers sustaining in a mutually beneficial relationship for a longer duration.

Buyers require industry-specific services to effectively operate their production facilities. Thus, they should opt for service providers that can offer customization and bring in years of experience in serving the needs of that industry.

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