Service Station Equipment | Suppliers | Pricing Trends , Best Practices

Strategic Sourcing Guide to Service Station Equipment Procurement

Overview

Several macro changes in the dynamics of overall Engineering Products and Equipment as well as Service Station Equipment procurement trends are poised to change the business practices and procurement thumb rules. Regulatory guidance on data protection and increasing concern over cybersecurity have increased the costs for suppliers as they incur additional spend on compliance and security. These additional costs have a potential to drive marginal increase in prices across the key geographies.

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

Procurement costs for Service Station Equipment are highly impacted by an increase in the costs associated with the value chain of Service Station Equipment, such as logistics, labor cost and energy. Additionally, outdated assets are also increasing the cost for suppliers.

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

Service Station Equipment Procurement Best Practices

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 Service Station Equipment. To help quick decision making, this report advises on several procurement best practices that have worked well for category managers.

For example, Buyers should engage with suppliers that have recycling capability. Recycling capability of the suppliers will lower their production costs which will be passed on to buyers. Additionally, the recycling capability will contribute in furthering the sustainability goals of the buyers' organization.

Buyers must have a clear understanding of the subcontracting policies, if any, of Service Station 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 need to evaluate the in-depth expertise of suppliers in the Service Station 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.

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Risks in Service Station Equipment procurement

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

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
Pricing terms in the contract could prove to be inadequate to safeguard the buyer from impact of a sudden increase in supplier's cost, often arising from a lack of clarity on scope of products or services to be delivered
Procurement without consulting the actual users of Service Station Equipment may result in a mismatch in expectations of the buyer's internal stakeholders versus the actual contract executed

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Who should read this report

The report is intended to serve as a one-stop reference guide for Service Station Equipment 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 “Service Station Equipment: Procurement Report 101” as well as for category experts actively tracking the global Service Station Equipment procurement market.

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

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Service Station Equipment Category Insights: What is inside

The Service Station Equipment 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 Service Station Equipment procurement spend and pricing trends. The report further delves deep into the aspects of cost structure, total cost of ownership and supplier margins for Service Station Equipment. 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 Service Station Equipment 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 Service Station Equipment 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 Service Station Equipment 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.