Towing Services | Market, Trends, Growth | Suppliers Analysis

Strategic Sourcing Guide to Towing Services Procurement

Overview

A changing ecosystem within the Fleet Management market also affects the procurement process, cost dynamics and supplier attractiveness for the buyers of Towing Services. Traditionally procurement functions had a greater say in deciding the specifics of orders. However, recent trends indicate that all departments of a company, even drivers are included in the decision making and feedback loop. This creates opportunities to benefit for cross learnings but also increases the co-ordination and conflict management tasks of category managers.

With fuel prices going up in many geographies, category managers are under tremendous pressure to compensate by achieving a higher cost saving in procurement of Towing Services.

Many suppliers are reeling under pressure from a lack of sufficiently trained manpower in enough numbers.

Towing Services Procurement Best Practices

The report discusses in detail the best practices that have served well the category managers responsible for Towing Services procurement.

For example, Buyers must accumulate essential data across their information systems and suppliers to create benchmarks for cost, quality and service levels for Towing Services suppliers.

A few of the factors that cause pollution from fleet vehicles are the use of outdated vehicles, inferior quality fuel, and poor maintenance. The rise in awareness about air pollution is forcing buyers to collaborate with service providers that adopt green initiatives and can offer green fleet solutions.

Buyers should evaluate service providers ability to innovate and reduce carbon emissions from traditional fuel-based vehicles, without compromising on cost and quality aspects.

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Risks in Towing Services procurement

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

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 Towing Services
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
Lack of efficient training to drivers can cause accidents and traffic violations, which in turn can cause severe injuries and fatalities

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Who should read this report

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

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

SpendEdge Insights has helped procurement professionals and sourcing teams manage multiple spend areas and achieve more than $2 billion in savings. Activate your free account today!

Towing Services Category Insights: What is inside

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