Well-Casing Completion Services | Suppliers | Pricing Trends , Best Practices

Strategic Sourcing Guide to Well-Casing Completion Services Procurement

Overview

The market for Operation of Mining Facilities and its sub-segments such as Well-Casing Completion Services are at an interesting intersection. With advancement in technology, service providers are employing diverse tools in their operations to identify opportunities for optimization and greater collaboration with the customers.

A balanced approach to procurement of Well-Casing Completion Services has emerged, where buyers with multiple locations first outsource at individual locations and gradually move to standardize and consolidate the services across facilities.

Several macro level trends such as slowing economic growth, trade conflicts, rising wages and technological disruptions have put pressure on managers to reduce their spend on Well-Casing Completion Services without affecting the performance.

Trends like these and many others discussed in this report are necessitating a relook at the way Well-Casing Completion Services is procured and the procurement cost saving opportunities that exist.

Well-Casing Completion Services Procurement Best Practices

Sometimes, procurement functions are unable to timely alter their practices while responding to market conditions. Industry experts acknowledge that periodically reviewing procurement best practices and adopting learnings from across procurement categories can help procurement teams respond to market needs in a more agile way. This report combines our experience of other categories with Well-Casing Completion Services procurement insights and hand picks best practices that can work for category managers delving in this market.

For example, Buyers must ensure the participation and collaboration of all related cross-functional teams (procurement, electrical, engineering, and housekeeping) in category management and planning activities. This is crucial, as these teams will be the primary end-users of the services offered by suppliers, and this step will ensure consistency in services.

Buyers should set a baseline against which the performance of suppliers can be benchmarked along with setting measurable/quantifiable KPIs. Defined KPIs provides suppliers with clarity on the scope. Besides setting standards for operations, pricing, and performance, KPIs must provide tangible goals in terms of the quality of solutions.

Buyers must clearly define clauses pertaining to the ownership of sub-contracting services that are not a part of their preferred suppliers' portfolios. This will ensure consistency in the services of sub-contracted firms as well as protection of confidential data.

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Risks in Well-Casing Completion Services procurement

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

Workers may have to handle hazardous substances/materials. Non-compliance to the safety standards and working without using the personal protective equipment can result in accidents and affect operations. Workers are also required to work at heights while carrying out cleaning activities. Non-adoption of precautionary measures by workers can lead to fatalities or severe injuries, thus negatively impacting the reputation of buyers
Suppliers are often faced with challenges such as shortage of labor, as the demand for FM services is very high. Shortages can interrupt operations, leading to delay in projects and cost overruns
Irregular inspections of facilities and installations can lead to the failure of electrical and maintenance-related equipment. This leads to downtime and interrupts the day-to-day operations of the buyers, thereby resulting in huge losses

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Who should read this report

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

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

Well-Casing Completion Services Category Insights: What is inside

The Well-Casing Completion 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 Well-Casing Completion 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 Well-Casing Completion 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 Well-Casing Completion 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 Well-Casing Completion 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 Well-Casing Completion 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.