Asset Tracking Software | Market, Trends, Growth | Suppliers Analysis

Strategic Sourcing Guide to Asset Tracking Software Procurement

Overview

Several macro changes in the dynamics of overall End User Software and Hardware as well as Asset Tracking Software procurement trends are poised to change the business practices and procurement thumb rules. The ecosystem of Asset Tracking Software is part of an industry which is developing a host of new transformative technologies. Billions of dollars are being invested into this industry, and companies are in cutthroat competition to discover the next game changing technology, hardware, software, and services.

The supply market has undergone several structural changes including introduction of several new vendors every year, M&As and vertical integration efforts of suppliers. This has resulted in some issues such as erosion of previously established supplier relationships but has also opened new opportunities to onboard new suppliers that offer a solution with better fitment or a wider range of offerings in .

Global market is facing a shortage of professionals with requisite skills and training. Minimum wages and stringent regulations are compelling suppliers to increase their employee expenses which are expected to have an inflationary impact on buyer's procurement cost.

Category managers need to take note of the potential of these developments and reassess the changes required in their procurement practices.

Asset Tracking Software Procurement Best Practices

As market conditions become more dynamic and procurement practices get more sophisticated, category managers need to be cognizant of the best practices that work for their Asset Tracking Software category procurement. The report offers a succinct analysis of Asset Tracking Software procurement best practices.

For example, Needs of buyers can vary depending on the industry where buyers operate. For instance, buyers from the financial services industry give high importance to regulatory compliance and data security, whereas buyers from the e-commerce industry prioritize high throughput, low response time, and high scalability. Hence, service providers with a strong knowledge of the security, compliance, and governance needs of buyers' industries and a proven track record of performance with respect to these aspects should be prioritized.

Procurement functions should develop custom processes to gain better visibility and involve Asset Tracking Software suppliers early in the procurement process.

Category managers must explore opportunities to integrate planning and management activities using analytics to gain better control over category spend. This will also allow them to consolidate supply base easily as well as segment service providers depending on requirements and spend on each service provider.

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 Asset Tracking Software procurement

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

An increase in the integration of IT systems is amplifying the risk of cyberattacks and theft of sensitive data
Contract-related risks where unfavorable credit terms may severly penalize buyers for delayed payments or entitle the supplier to demand pre-payments or shorten the payment terms are not very common in the category but they do exist in certain situations where buyers' liquidity or financial health is in question
Suppliers may face a situation where they are unable to honor a contract in its entirety due to shortage of resources, finances or capabilities. While contractual terms safeguard buyers from the non-performance, their operations could still face massive disruptions due to suppliers' non-performance

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 Asset Tracking Software 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 “Asset Tracking Software: Procurement Report 101” as well as for category experts actively tracking the global Asset Tracking Software procurement market.

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

Asset Tracking Software Category Insights: What is inside

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