A purchasing guide for Asphalts – rich advisory on spend outlook in Asphalts, pricing analysis for Asphalts procurement cost benchmarking, negotiation strategies and key vendors of Asphalts.
This report on global Asphalts category is part of a larger series of reports on global Construction Supplies market. The scope of Construction Supplies spans multiple categories and is typically identified as a procurement category that includes all spend on construction equipment, materials and products relating to any build environment project where the supplies are procured directly by the client, excluding any service provider costs.
Business practices within Asphalts market are heavily influenced by changing trends across the category as well as within the broader Construction Supplies market. Fluctuation in prices of construction materials has made it difficult for project contractors to maintain a steady cost projection on construction projects. Also, the risks associated with project cost overruns are contributing to project delays and abandonment. Procurement functions are more careful while drawing up supplier contracts and insulating their projects from price uncertainties to the extent possible on negotiation tables. Suppliers across the value chain are increasing their investments in technologies and incorporating systems integrated with IoT, AI, Big data, and data analytics to generate efficiencies and better serve the evolving demand patterns of buyers. This is expected to impact the cost structure of suppliers in the short-term but will help bring down the costs in longer run as suppliers recover the costs of current investment cycles. To attract investment and drive long-term value, suppliers are building unique business models and implementing corporate social responsibility (CSR) initiatives and stakeholder engagement programs. Such strategic initiatives are pivotal to acquire a social license to operate, generate consumer awareness, and have easy access to input commodities. As a result, category managers need to closely monitor the Asphalts procurement trends and identify changes required in their procurement environment for the category.
It has become imperative for category managers to remain as agile as possible in terms of their procurement practices. However, it is not always easy to quickly spot and implement alternative practices in a category like Asphalts. To help quick decision making, this report advises on several procurement best practices that have worked well for category managers. For example, Buyers should engage with service providers that offer a wide portfolio and can act as a one-stop solution provider for multifaceted requirements of projects. This enables buyers to save significant costs and increases their spend visibility.Establishing strategic partnerships with suppliers allow category managers to enhance management and planning vision. By adopting a strategic engagement approach, buyers can optimize their category spend by streamlining the category management process. For instance, a risk/reward-sharing approach for construction management providers helps buyers to transfer ownership of projects to service providers.Service providers may outsource certain aspects of the project if they lack the required expertise or to expedite the project progress. If the subcontractor is not covered by a reliable liability insurance or does not abide by the same terms and conditions that were laid down for the main contractors, then it can hinder the main contractor's ability to perform its services. It may also entangle the buyers in legal complications and negative publicity.
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Asphalts procurement managers also need to proactively identify and mitigate potential risks that can arise in the supply chain or contracts for Asphalts procurement. Some examples include:
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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!!
You may have just initiated your research to design a winning Asphalts procurement strategy, or you may be a category expert looking for strategic insights and updated data.Either ways, the report has your requirements covered.
The report is intended to serve as a one-stop reference guide for Asphalts 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 “Asphalts: Procurement Report 101” as well as for category experts actively tracking the global Asphalts procurement market.
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The Asphalts 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:
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The Asphalts 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.
A key highlight of this report is the in-depth outlook created on Asphalts procurement spend and pricing trends. The report further delves deep into the aspects of cost structure, total cost of ownership and supplier margins for Asphalts. A dedicated section to supplier profiles and evaluation helps decision makers cast a wider procurement net and identify gaps in existing relationships.
Along with specific category and supplier intelligence, the publication also includes curated insights on Asphalts 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.
Additionally, the report also advises on the best practices and strategies to manage the Asphalts 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.
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?”
SpendEdge presents a detailed picture of Asphalts 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.