Axes Market Procurement Intelligence Report

A complete buyer's guide that provides comprehensive insights on Axes category spend, spend growth and regional segmentation; in-depth price trends; negotiation levers and analysis of Axes suppliers.

Our category grouping process defines that the overall Tools market includes all spend on procurement of hand tools, mechanical tools and electrical tools used in construction, operations and general general maintenance. Dynamics of the global Axes market play out within this wider arena of Tools market. Therefore, our coverage of the Axes category also operates within this broader boundary of the overall Tools market.

Key questions on L4 procurement answered by this report

Strategic Sourcing Guide to Axes Procurement

Overview

A changing ecosystem within the Tools market also affects the procurement process, cost dynamics and supplier attractiveness for the buyers of Axes. Markets across the globe are reeling under shortage of professionals and workforce that have relevant 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 buyers' procurement cost.

Regulatory guidance on data protection and increasing concern over cybersecurity have increased the costs for suppliers as they incur additional spend on compliance and security. These additional costs have a potential to drive marginal increase in prices across the key geographies.

Procurement costs for Axes are highly impacted by an increase in the costs associated with the value chain of Axes, such as logistics, labor cost and energy. Additionally, outdated assets are also increasing the cost for suppliers.

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

For example, 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 should invest in benchmarking studies that help category managers to improve their knowledge on market pricing or billing rates of service providers. This helps them to not only save costs but also increase their negotiation power.

Competitive bidding as a cost optimization tool is extremely potent but should be carefully deployed only when there is no significant differentiation among Axes suppliers.


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 Axes procurement

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


  • 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
  • With changing technologies, the manufacturing, packaging and labelling requirements have become more stringent than ever across geographies globally. RFID tags, temperature sensors, and barcode scanners, have become common requirements across the category. There is also an increase in the adoption of technologies such as AI and IoT. Therefore, suppliers incur excessive costs to keep upgrading their technology and to ensure maintenance of these technologies across various stages of the product category
  • Procurement without consulting the actual users of Axes may result in a mismatch in expectations of the buyer's internal stakeholders versus the actual contract executed

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

     

    You may have just initiated your research to design a winning Axes 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

Get lifetime free access to the richest, most comprehensive collection of procurement intelligence reports and stay up to date on the latest developments and best practices in procurement.


Key questions on Axes 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 Axes 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 Axes market?
    • What is the correct price to pay for Axes? What are the key trends and factors that influence current and future pricing?
    • Which selection criteria are the most important for Axes Suppliers Market?
    • Who are the top Axes suppliers? What are their cost structures?
    • Which negotiation levers can reduce Axes procurement cost ?
    • What are supplier margins in Axes market?
    • What are the best practices for Axes 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!

Axes Category Insights: What is inside

  • A comprehensive drill down on category sourcing execution: Data, insights, advisory

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

  • Unrivalled breadth of category analysis: at your fingertips

    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
  • A lucid, easy to read format: Enabling fast decisions

    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 Axes 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.

Information Sources

Primary research
Secondary research
Procurement heads
Industry journals and reports
Category managers
Periodicals and new articles
Sourcing consortium professionals
Category webinars
Industry experts and thought leaders
Internal categiry playbooks
Procurement managers
Industry/government websites on regulations, compliance
Category heads of suppliers
Internal databases
Client account heads/managers
Industry blogs/thought leader briefings
Client and industry consultants

Related reports

Global Hammers Market - Procurement Intelligence Report

Global Wire Grips Market - Procurement Intelligence Report

Global Shovels Market - Procurement Intelligence Report

Global Hoes Market - Procurement Intelligence Report

Global Tool Carriers Market - Procurement Intelligence Report

Global Industrial Trimmers Market - Procurement Intelligence Report

Global Crimping Pliers Market - Procurement Intelligence Report

Global Spikes For Piercing Road Surfaces Market - Procurement Intelligence Report

Global Beach Rakes Market - Procurement Intelligence Report

Read More

Access this report and our entire procurement platform for free | Plans starting from USD 250 Try For Free