Well-Drilling Control Services Market Procurement Intelligence Report

A changing ecosystem within the Operation of Mining Facilities market also affects the procurement process, cost dynamics and supplier attractiveness for the buyers of Well-Drilling Control Services. Many companies are looking to engage Well-Drilling Control Services supplies in a long-term partnership to derive the highest ROI possible and creating an environment of trust and collaboration that allows for new optimization strategies.

Buyers of Well-Drilling Control Services are insisting on hard evidence to support cost reduction. Suppliers are responding with elaborate matrix of KPIs that provide managers actionable data on supplier performance and cost savings achieved.

As market presence of companies become global, there is a growing preference towards service providers who can provide services seamlessly across the globe and have excellent understanding of local regulations and culture.

Well-Drilling Control Services 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 Well-Drilling Control Services procurement strategy.

For example, Buyers should evaluate the true costs of each product and service within the scope of work for supplier, and also understand the hidden costs associated. This can help them to set accurate targets for cost reduction for their suppliers, and effectively monitor and evaluate their performance against industry benchmarks.

Benefits of an integrated program are more apparent over a period of 5-7 years, and the goal in such relationships is to achieve cost savings and improve performance in the long run. Buyers should opt for suppliers that have a track record of long-term engagements as this will increase the probability of these suppliers sustaining in a mutually beneficial relationship for a longer duration.

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.

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