Cable Accessories Market Procurement Intelligence Report

Access curated Cable Accessories procurement intelligence and solve all your questions on Cable Accessories procurement outlook, cost saving opportunities in Cable Accessories procurement and potential Cable Accessories partners.

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Scope of the report

Ecosystem of the global Cable Accessories category is intertwined with the larger parent market of Construction Supplies. Our category definition describes that overall Construction Supplies market includes all spend on construction equipment, materials and products relating to any build environment project where the supplies are procured directly by the client, excluding any service provider costs.

KEY PROCUREMENT INSIGHTS COVERED

Strategic Sourcing Guide to Cable Accessories Procurement

Overview

Business practices within Cable Accessories market are heavily influenced by changing trends across the category as well as within the broader Construction Supplies market. To attract investment and drive long-term value, suppliers are building unique business models and implementing corporate social responsibility (CSR) initiatives and stakeholder engagement programs. Such strategic initiatives are pivotal to acquire a social license to operate, generate consumer awareness, and have easy access to input commodities.

Over the years, regional boundaries have blurred as suppliers foray into different continents, increase their capital expenditure and spend on cross-border M&A initiatives. The deployment of geographic diversification strategies through such consolidation initiatives has enabled the large suppliers to improve their performance and expand their business footprint.

The growing need for smarter and resilient construction has encouraged a rapid implementation of advanced BIM solutions. The integration of 4D BIM and geographical information system (GIS) is helping in improving construction productivity, construction supply chain management, material supplier selection, estimation of deliveries, and overall coordination between construction companies and material suppliers.

As a result, category managers need to closely monitor the Cable Accessories procurement trends and identify changes required in their procurement environment for the category.

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

For example, Buyers must have a clear understanding of the sub-contracting policies of suppliers. Suppliers must be evaluated on factors such as price, quality, and regulatory compliance of their subcontractors before they are selected.

Service providers may outsource certain aspects of the project if they lack the required expertise or to expedite the project progress. If the subcontractor is not covered by a reliable liability insurance or does not abide by the same terms and conditions that were laid down for the main contractors, then it can hinder the main contractor's ability to perform its services. It may also entangle the buyers in legal complications and negative publicity.

Large firms should prefer to engage in long-term contracts with a preferred set of suppliers that can provide integrated solutions for all scales of projects (small, mid-sized, or large). Partnerships with preferred service providers lead to category-level innovations and enable buyers to avail customized services.


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Risks in Cable Accessories procurement

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


  • The unavailability of sophisticated project execution tools and systems can lead to improper estimations of costs, forecasts, and scheduling. Lack of such tools and capabilities to deal with a large amount of data can have an adverse impact on the execution of projects, thereby leading to high project costs
  • Inaccurate estimates of resources and timelines, poor project planning, increase in scope of the project, changes and variations in the project or lack of clarity on responsibilities/ scope of work may result in buyers incurring additional cost on the project that exceeds their planned budget
  • 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

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

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Key questions on Cable Accessories procurement answered by this report


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

Cable Accessories Category Insights: What is inside

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