Textile Printing | Market, Trends, Growth | Suppliers Analysis

Strategic Sourcing Guide to Textile Printing Procurement

Overview

The market for Printed Products and its sub-segments such as Textile Printing are at an interesting intersection. High procurement costs put a hindrance for buyers looking for upgrading or replacing a printing asset. As an alternative, suppliers are offering cost-effective re-engineering capabilities such as retrofitting of existing equipment with new systems.

Digital printing has made significant in-roads at the expense of offset printing owing to its benefits such as order flexibility, optimized stock handling, and minimization of time-to-market for printed content.

Rapid digitization of workspace and work processes has significantly reduced the use of paper in corporate world and therefore, industry has seen a consistent decline of print volumes. Still, the term \"paperless office\" will take years to become a common phenomenon. Print is here to stay and will co-exist with the digital document solutions in a \"paper-light\" corporate world.

Trends like these and many others discussed in this report are necessitating a relook at the way Textile Printing is procured and the procurement cost saving opportunities that exist.

Textile Printing Procurement Best Practices

Textile Printing procurement best practices are moving towards a level of sophistication which is typically seen in traditional procurement categories. Category managers now have an attractive opportunity to adapt the best practices seen within this category as well as those being leveraged in other non-related categories. This report summarizes the best practices picked from across multiple categories that could work well for category managers involved with Textile Printing procurement strategy.

For example, Buyers would benefit from engaging with service providers that display a high level of adoption of technologies such as web-to-print, workflow automation software, and remote proofing. These technologies would, in turn, enable buyers to achieve savings in their printing budgets, improve print quality, provide better visibility over the printing project, and offer greater flexibility over the printing project.

Buyers should engage with service providers that offer binding and finishing services in a short TAT. This helps in eliminating issues related to scoring, folding, perforating, and binding within the digital printing process.

Buyers must clearly define clauses pertaining to the ownership of subcontracted services that are not part of their service providers' portfolios. This is necessary to ensure service consistency and control over sensitive data that are shared with sub-contracted firms.

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Risks in Textile Printing procurement

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

Commercial printing is considered as a manufacturing activity in many countries, and they are required to comply with various laws with respect to environment and human safety. However, non-adherence to any of the international or regional laws can impact the brand image of the supplier as well as result in hefty fines or removal of operating license
Suppliers depend on various third-party vendors for providing IT support, storage, and distribution of print materials and inputs. Any supply failure on third-party vendor's part may lead to inconsistency and delay in the supply of print materials to buyers. Moreover, these supply inconsistencies may compel suppliers to procure the product from other suppliers at the market price, which could be higher than the contract price. This result in an increase in procurement cost for suppliers
When requirements of the buyers are not absolutely clear or usage patterns are not stable or predictable, suppliers often build in \"cost buffers\" for unforeseen risks due to a lack of complete understanding on buyer's requirements. This increases the risk of overspending on Textile Printing

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Who should read this report

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

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

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Textile Printing Category Insights: What is inside

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