Woollen Fabrics | Intelligence Report

Strategic Sourcing Guide to Woollen Fabrics Procurement

Overview

The market for Clothing and Textiles and its sub-segments such as Woollen Fabrics are at an interesting intersection. Suppliers are disrupting traditional business models with new offerings and terms. These disruptions are also necessitating buyers to relook their procurement practices and standards with respect to supplier selection and price benchmarking activities.

The global industry has seen a gradual increase in labor cost due to several factors, such as shortage of a trained workforce, increase in minimum wages, regulations around employee benefits and declining appeal for what have been traditionally called unskilled jobs. As the employee expenses increase, suppliers are compelled to pass some of this increase to their buyers by charging higher prices.

Buyers are moving towards longer contract durations with suppliers of Woollen Fabrics to benefit from value-based discounts, integrated products and services, lower renewal cost and lesser expenses on contracting activities.

Trends like these and many others discussed in this report are necessitating a relook at the way Woollen Fabrics is procured and the procurement cost saving opportunities that exist.

Woollen Fabrics Procurement Best Practices

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

For example, Buyers should engage with suppliers that can repurchase the used products at fair market value or can offer recycling capability. This assists buyers to dispose of used products in a convenient manner and honor their sustainability practices. Also, suppliers provide credits to buyers for future purchases. This reduces overall procurement costs for buyers.

Strong R&D focus is the sign of a supplier committed to enhancing the quality and cost proposition of its solutions. Buyers should collaborate with such suppliers for development of low-cost but highly efficiency products that can bring their OPEX down.

Buyers need to employ robust should-cost models and total cost of ownership models to aid Woollen Fabrics supplier selection and pricing negotiations.

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Risks in Woollen Fabrics procurement

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

Rise in the prices of key raw materials significantly increases the manufacturing cost within the category. Additionally, adverse weather conditions also impact the cost of certain raw materials negatively. Increased raw material cost in a supplier's hands can lead to an almost proportionate rise in the overall category costs
Pricing terms in the contract could prove to be inadequate to safeguard the buyer from impact of a sudden increase in supplier's cost, often arising from a lack of clarity on scope of products or services to be delivered
The minimal infrastructure development for logistics in several parts of the world portrays a challenge for suppliers to maintain the standardization of logistics of materials

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Who should read this report

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

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

Woollen Fabrics Category Insights: What is inside

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