Boiler & Furnace Construction Services Market Procurement Intelligence Report

A purchasing guide for Boiler & Furnace Construction Services – rich advisory on spend outlook in Boiler & Furnace Construction Services, pricing analysis for Boiler & Furnace Construction Services procurement cost benchmarking, negotiation strategies and key vendors of Boiler & Furnace Construction Services.

Scope of the report

Ecosystem of the global Boiler & Furnace Construction Services category is intertwined with the larger parent market of Operation of Industrial Facilities. Our category definition describes that overall Operation of Industrial Facilities market includes all spend related to the operations of industrial facilities excluding costs incurred on salary, materials or consultancy.

KEY PROCUREMENT INSIGHTS COVERED

Strategic Sourcing Guide to Boiler & Furnace Construction Services Procurement

Overview

Several macro changes in the dynamics of overall Operation of Industrial Facilities as well as Boiler & Furnace Construction Services procurement trends are poised to change the business practices and procurement thumb rules. Buyers of Boiler & Furnace Construction Services are insisting on hard evidence to support cost reduction. Suppliers are responding with elaborate matrix of KPIs that provide managers actionable data on supplier performance and cost savings achieved.

Several macro level trends such as slowing economic growth, trade conflicts, rising wages and technological disruptions have put pressure on managers to reduce their spend on Boiler & Furnace Construction Services without affecting the performance.

Suppliers are shedding the category expert tag and moving up the value chain to offer an integrated approach to their services. With this new approach, suppliers can offer a wide portfolio of services and position themselves for large contracts that go beyond just Boiler & Furnace Construction Services.

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

Boiler & Furnace Construction Services 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 Boiler & Furnace Construction Services category procurement. The report offers a succinct analysis of Boiler & Furnace Construction Services procurement best practices.

For example, Category managers must explore opportunities to integrate planning and management activities of categories using analytics, to gain better control over category spend. This will also allow them to consolidate their supply base easily, as well as to segment suppliers based on requirements and spend on each supplier.

Investing in benchmarking studies that help category managers enhance their knowledge on pricing or billing rates of suppliers allows them to not only save costs, but also negotiate better with suppliers. For example, while negotiating for bundled services, they can save significantly on a single service by cross-verifying rates quoted by suppliers against industry benchmarks.

Buyers must clearly define clauses pertaining to the ownership of sub-contracting services that are not a part of their preferred suppliers' portfolios. This will ensure consistency in the services of sub-contracted firms as well as protection of confidential data.


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Risks in Boiler & Furnace Construction Services procurement

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


  • Workers may have to handle hazardous substances/materials. Non-compliance to the safety standards and working without using the personal protective equipment can result in accidents and affect operations. Workers are also required to work at heights while carrying out cleaning activities. Non-adoption of precautionary measures by workers can lead to fatalities or severe injuries, thus negatively impacting the reputation of buyers
  • Pricing terms in the contract could prove to be inadequate to safeguard the buyer from impact of a sudden increase in supplier's cost, often arising from a lack of clarity on scope of products or services to be delivered
  • Procurement without consulting the actual users of Boiler & Furnace Construction Services may result in a mismatch in expectations of the buyer's internal stakeholders versus the actual contract executed

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Who should read 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!!

    You may have just initiated your research to design a winning Boiler & Furnace Construction Services procurement strategy, or you may be a category expert looking for strategic insights and updated data.Either ways, the report has your requirements covered.

    The report is intended to serve as a one-stop reference guide for Boiler & Furnace Construction Services 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 “Boiler & Furnace Construction Services: Procurement Report 101” as well as for category experts actively tracking the global Boiler & Furnace Construction Services procurement market.

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Key questions on Boiler & Furnace Construction Services procurement answered by this report

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

Boiler & Furnace Construction Services Category Insights: What is inside

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

    The Boiler & Furnace Construction Services 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 Boiler & Furnace Construction Services procurement spend and pricing trends. The report further delves deep into the aspects of cost structure, total cost of ownership and supplier margins for Boiler & Furnace Construction Services. 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 Boiler & Furnace Construction Services 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 Boiler & Furnace Construction Services 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 Boiler & Furnace Construction Services 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

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