Benzocyclobutene based Polymers Market Procurement Intelligence Report

Several macro changes in the dynamics of overall Engineering Materials as well as Benzocyclobutene based Polymers procurement trends are poised to change the business practices and procurement thumb rules. Volatility in the prices of key inputs is creating multiple issues that impact procurement within Benzocyclobutene based Polymers category such as benchmarking and budgeting of the procurement costs.

Technology is improving productivity and creating fresh demand. Convergence of data science, automation tools, 3D printing, robotics, AI and big data has opened up multiple possibilities to better serve customers at a lower operational cost.

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.

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

Benzocyclobutene based Polymers procurement best practices are moving towards a level of sophistication which is typically seen in traditional procurement categories. Category managers now have an attractive opportunity to adapt the best practices seen within this category as well as those being leveraged in other non-related categories. This report summarizes the best practices picked from across multiple categories that could work well for category managers involved with Benzocyclobutene based Polymers procurement strategy.

For example, 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.

Buyers need to evaluate the in-depth expertise of suppliers in the Benzocyclobutene based Polymers industry. This can be assessed by considering factors such as the years of experience, number of resources that have multi-year experience of working in the same industry and at least 3 to 5 credentials for the supplier.

Buyers must have a clear understanding of the subcontracting policies, if any, of Benzocyclobutene based Polymers suppliers. Factors such as cost incurred, service quality, adherence to timelines, and regulatory compliance of subcontractors employed by suppliers should be carefully assessed prior to engagement.

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