Robotic Equipment Market Procurement Intelligence Report

Engineering Products and Equipment market around the world is undergoing rapid transitions that have a massive potential to influence the way companies strategize for Robotic Equipment procurement and the cost they have to incur. Procurement costs for Robotic Equipment are highly impacted by an increase in the costs associated with the value chain of Robotic Equipment, such as logistics, labor cost and energy. Additionally, outdated assets are also increasing the cost for suppliers.

Volatility in the prices of key inputs is creating multiple issues that impact procurement within Robotic Equipment category such as benchmarking and budgeting of the procurement costs.

Suppliers are continuously taking efforts to improve efficiencies and productivity and deploying processes and technologies. Some of these investments are likely to increase their costs in the shorter term, but learnings from other sectors keep the suppliers optimistic about a lean cost structure in the longer run.

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 Robotic Equipment procurement insights and hand picks best practices that can work for category managers delving in this market.

For example, Buyers need to evaluate the in-depth expertise of suppliers in the Robotic Equipment 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.

Buyers must have a clear understanding of the subcontracting policies, if any, of Robotic Equipment suppliers. Factors such as cost incurred, service quality, adherence to timelines, and regulatory compliance of subcontractors employed by suppliers should be carefully assessed prior to engagement.

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.

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