Audio Codecs | Market, Trends, Growth | Suppliers Analysis

Strategic Sourcing Guide to Audio Codecs Procurement

Overview

The market for End User Software and Hardware and its sub-segments such as Audio Codecs are at an interesting intersection. In a bid to differentiate themselves in an overcrowded technology space, suppliers are now focusing on creating industry-specific specialized products. Buyers see this trend as an opportunity to procure more targeted solutions and are developing internal capabilities to identify and leverage innovations in the supplier base.

New locations and vendors are emerging as cost effective suppliers of Audio Codecs, offering an opportunity to widen the supplier base and gain further negotiation leverage with incumbent suppliers.

Buyers are showing an inclination to onboard suppliers whose offerings span beyond Audio Codecs. The practice brings in several advantages such as rationalization of supplier base, economies of scale and reduced category management cost.

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

Audio Codecs Procurement Best Practices

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 Audio Codecs. To help quick decision making, this report advises on several procurement best practices that have worked well for category managers.

For example, Procurement functions should develop custom processes to gain better visibility and involve Audio Codecs suppliers early in the procurement process.

Developing a strong understanding of the potential vulnerabilities of service providers can help buyers limit their potential losses and also gives the bargaining power to demand services from more robust measures in the SLA.

Investing in benchmarking studies not only helps category managers to improve their knowledge about market pricing or billing rates but also in negotiating with suppliers. In fact, this holds true for all technology procurement sub-categories.

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 Audio Codecs procurement

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

An increase in the integration of IT systems is amplifying the risk of cyberattacks and theft of sensitive data
Procurement without consulting the actual users of Audio Codecs may result in a mismatch in expectations of the buyer's internal stakeholders versus the actual contract executed
When requirements of the buyers are not absolutely clear or usage patterns are not stable or predictable, suppliers often build in \"cost buffers\" for unforeseen risks due to a lack of complete understanding on buyer's requirements. This increases the risk of overspending on Audio Codecs

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 Audio Codecs 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 “Audio Codecs: Procurement Report 101” as well as for category experts actively tracking the global Audio Codecs procurement market.

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

Audio Codecs Category Insights: What is inside

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