Variable Message Signs | Intelligence Report

Strategic Sourcing Guide to Variable Message Signs Procurement

Overview

Several macro changes in the dynamics of overall Operation of Infrastructure as well as Variable Message Signs procurement trends are poised to change the business practices and procurement thumb rules. Suppliers are no more just the experts in Variable Message Signs. Many are moving up the value chain and offering integrated services that go beyond just Variable Message Signs. This new business model helps buyers on multiple counts, such as fewer suppliers to manage, cost savings arising of volume buying and long-term strategic partnerships with a chosen few suppliers that maximize the ROI and allow for strategic optimization experiments.

Even as technological prowess of suppliers is increasing and processes are routinely being digitalized, there is a growing concern around putting critical data and information in the hands of a third party. Buyers are making elaborate contracts that aim to prevent intentional or unintentional data leakage or theft.

Customer expectations of service quality has transformed in line with the customer experience provided within consumer and online sectors. Suppliers are striving to provide not only best quality but best-in-class experience.

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

Variable Message Signs Procurement Best Practices

Variable Message Signs 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 Variable Message Signs procurement strategy.

For example, Large organizations are optimizing category spend by eliminating tail-spend service providers and engaging with a single service provider to meet buyers' needs. Buyers generally prefer to engage with preferred global suppliers. However, if global suppliers do not have an operational presence in a specified country, buyers should engage with local/regional service providers.

Engage suppliers that have adopted a high degree of automation in their business model. Automation of supplier's operations can offer benefits such as decrease in operational costs, reduction in the need for manual labor, lower chances of operational errors and optimized use of space.

Buyers need to employ robust should-cost models and total cost of ownership models to aid Variable Message Signs supplier selection and pricing negotiations.

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Risks in Variable Message Signs procurement

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

Procurement without consulting the actual users of Variable Message Signs may result in a mismatch in expectations of the buyer's internal stakeholders versus the actual contract executed
Service providers often outsource the installation, transportation, and maintenance of facilities and operations to third parties. Third-party suppliers may not provide the services in accordance with the standards set by the service providers. This reduces the ability of the service providers to ensure a seamless experience for buyers
The industry is directly linked to economic and political environments. Changes in government policies and economic instability negatively impacts the industry, thereby posing challenges to the suppliers. For instance, changes in tax regulations can affect profit margins of suppliers, thereby hindering their capabilities to offer improved services within the set timelines

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Who should read this report

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

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

Variable Message Signs Category Insights: What is inside

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