Waste Drums | Intelligence Report | Procurement.Spendedge

Strategic Sourcing Guide to Waste Drums Procurement

Overview

Warehousing and Storage market around the world is undergoing rapid transitions that have a massive potential to influence the way companies strategize for Waste Drums procurement and the cost they have to incur. Suppliers are increasingly adopting a demand-driven planning of their assets and resources to reduce costs and optimize operational efficiency. Part of the cost savings are passed on to buyers, but this also creates supply chain risks for them that need to be managed jointly with the supplier.

Rise in minimum labor wages across countries such as the US and China will result in increased employee expenses for Waste Drums suppliers who will be forced to pass on a part of this increase to their buyers.

Managing the logistics risks and building a resilient supply chain has taken the centerstage among corporate priorities. Companies are investing heavily to be able to detect disruptions in time and respond in a manner which does not put the core operations at risk. All suppliers within the ecosystem are expected to play their part and embrace the processes, tools and technologies that their customers have implemented to build a resilient supply chain.

Waste Drums Procurement Best Practices

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

For example, It is important for category managers to track and measure supplier performance against a defined set of KPIs that are agreed upon by both parties during contract negotiation, including inventory accuracy, dock-to-stock, and on-time shipment. This is critical to ensure the optimal level of service. Suppliers' performance can also be linked to a part of their fee, which can be paid depending on the level of services rendered.

Buyers need to assess the level of automation provided and time required to obtain process efficiency, apart from checking if suppliers have the correct documentation for as-is processes and to-be processes to avoid any conflicts in implementation.

Buyers must track suppliers' quality management systems to ensure that the products are stored in a hygienic environment and have almost zero probability of occurrence of damages. This is particularly critical for buyers in industries such as food and beverages and pharmaceutical.

Activate your free account to gain easy access to cutting edge research and insights on consumers, emerging price trends, global and regional suppliers.

Risks in Waste Drums procurement

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

IT risks related to security breach and malfunction and disruption in the operation of the systems pose significant risks in the category market. Also, there is an increasing competition from startups and technology providers that implement emerging technologies such as big data analytics and IoT that offer platform-based and dedicated delivery solutions pose significant risks to the suppliers
The category is highly impacted by the global economic factors. Economic downturn and political upheaval, particularly in major international markets such as the US and China, results in huge uncertainties. Uncertainty in customer demand owing to changes in freight and shipping market from general economic fluctuations and decline in international freight demand negatively impact the category
Factors such as hurricanes, tornadoes, terrorist acts, diseases, and earthquakes quickly hamper the operations within the category. Such risks are unforeseeable and disrupt the whole supply chain leading to significant losses to both the buyers and suppliers

For detailed insights and complete access to our report library, activate your free account!

Who should read this report

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

You may have just initiated your research to design a winning Waste Drums procurement strategy, or you may be a category expert looking for strategic insights and updated data.Either ways, the report has your requirements covered.

SpendEdge Insights Subscription

Unlock SpendEdge's comprehensive procurement report collection with ease through our procurement platform.

Subscribe Now

Key questions on Waste Drums 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 Waste Drums 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 Waste Drums market?
What is the correct price to pay for Waste Drums? What are the key trends and factors that influence current and future pricing?
Which selection criteria are the most important for Waste Drums Suppliers Market?
Who are the top Waste Drums suppliers? What are their cost structures?
Which negotiation levers can reduce Waste Drums procurement cost ?
What are supplier margins in Waste Drums market?
What are the best practices for Waste Drums 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!

Waste Drums Category Insights: What is inside

The Waste Drums 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 Waste Drums procurement spend and pricing trends. The report further delves deep into the aspects of cost structure, total cost of ownership and supplier margins for Waste Drums. 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 Waste Drums 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 Waste Drums 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?”

❮ ❯

Category Research Framework

SpendEdge presents a detailed picture of Waste Drums 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.