Vehicle Accessories | Market, Trends, Growth | Suppliers Analysis

Strategic Sourcing Guide to Vehicle Accessories Procurement

Overview

Fleet Management market around the world is undergoing rapid transitions that have a massive potential to influence the way companies strategize for Vehicle Accessories procurement and the cost they have to incur. Suppliers are disrupting business models with new products and services that impact supplier selection and price benchmarking activities for category buyers.

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.

Accident prevention features are more effective and cost friendly then they were even three years ago, opening opportunities to reduce Total Cost of Ownership.

Vehicle Accessories Procurement Best Practices

Vehicle Accessories 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 Vehicle Accessories procurement strategy.

For example, The adoption of advanced technologies such as telematics and IVMS enables buyers to track vehicles, increase fuel efficiency, reduce carbon emissions, and increase cost savings. These technologies ensure buyers safety and increase the efficiency of their fleet.

Buyers should engage with service providers that utilize technologies to generate reports with respect to fleet condition and services delivered.

Vehicle replacement cycles is a mechanism used to calculate maintenance and depreciation-related costs associated with a vehicle. Service providers perform such calculations on behalf of buyers. Vehicle replacement cycles enable end-users to follow safety measures and minimize operating costs. These are calculated after a certain mileage or specific years of use. Furthermore, buyers should engage with service providers that offer analysis with respect to fuel consumed as well as provide maintenance and repair services.

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Risks in Vehicle Accessories procurement

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

The rise in awareness about air pollution is forcing buyers to collaborate with service providers that adopt green initiatives. A few of the factors that cause pollution from fleet vehicles are the use of outdated vehicles, inferior quality fuel, and poor maintenance
Suppliers may face a situation where they are unable to honor a contract in its entirety due to shortage of resources, finances or capabilities. While contractual terms safeguard buyers from the non-performance, their operations could still face massive disruptions due to suppliers' non-performance
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 Vehicle Accessories 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 “Vehicle Accessories: Procurement Report 101” as well as for category experts actively tracking the global Vehicle Accessories procurement market.

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

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Vehicle Accessories Category Insights: What is inside

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