Roofbolts & Anchors Market Procurement Intelligence Report

A changing ecosystem within the Construction Supplies market also affects the procurement process, cost dynamics and supplier attractiveness for the buyers of Roofbolts & Anchors. Construction activities and manufacturing of construction supplies are known to be a large source of emissions across the world. Regulatory and social pressures to keep emissions in check have transformed the way construction industry operates. Sustainable practices have penetrated the traditional business processes. There is an increasing demand for green buildings, low carbon concretes and other low emission construction aggregates and renewable energy solutions. All these factors are contributing to a significant change in the procurement standards and practices within the category.

Periods of macroeconomic uncertainty and increasing stringency of immigration laws are key contributors to the workforce shortage in the market. Domestic workers in developed countries often choose to pursue higher education and less cyclical employment opportunities while foreign workers return to their home countries due to tough immigration laws and economic conditions. Consequently, suppliers have had to increase labor wages to attract skilled and unskilled labor, which has increased their costs and forced them to increase their pricing.

To attract investment and drive long-term value, suppliers are building unique business models and implementing corporate social responsibility (CSR) initiatives and stakeholder engagement programs. Such strategic initiatives are pivotal to acquire a social license to operate, generate consumer awareness, and have easy access to input commodities.

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 Roofbolts & Anchors procurement insights and hand picks best practices that can work for category managers delving in this market.

For example, Service providers may outsource certain aspects of the project if they lack the required expertise or to expedite the project progress. If the subcontractor is not covered by a reliable liability insurance or does not abide by the same terms and conditions that were laid down for the main contractors, then it can hinder the main contractor's ability to perform its services. It may also entangle the buyers in legal complications and negative publicity.

Buyers should prefer working with suppliers who can bring in specialized solutions for their specific industries to ensure comprehensive delivery of construction related services to buyers.

Buyers should engage with service providers that offer a wide portfolio and can act as a one-stop solution provider for multifaceted requirements of projects. This enables buyers to save significant costs and increases their spend visibility.

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