Ball Valves Market Procurement Intelligence Report

A changing ecosystem within the Engineering Components market also affects the procurement process, cost dynamics and supplier attractiveness for the buyers of Ball Valves. Several structural changes including M&As and vertical integration efforts of suppliers are characterizing the broader market. Such strategic developments can erode the strength of previously established supplier relationships due to changed realities in the supplier's ecosystem. At the same time, buyers may also find opportunities to onboard new suppliers with a wider range of offerings or better contract terms for .

Suppliers are continuously taking efforts to improve efficiencies and productivity and deploying processes and technologies. Some of these investments are likely to increase their costs in the shorter term, but learnings from other sectors keep the suppliers optimistic about a lean cost structure in the longer run.

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 Additionally, outdated assets are also increasing the cost for suppliers.

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

For example, Buyers should engage with suppliers that have recycling capability. Recycling capability of the suppliers will lower their production costs which will be passed on to buyers. Additionally, the recycling capability will contribute in furthering the sustainability goals of the buyers' organization.

Buyers should engage with suppliers that have adopted a global delivery model as it reduces buyers' risk. In this model, any disaster/emergency at any operating facility of supplier will result in the work being transferred to a different facility, thereby ensuring continuity of the project and reduced risk for buyers. This model also provides buyers access to skilled labor from across the globe, thereby improving the quality of engineering products provided by the supplier.

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.

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