Cable Drums Market Procurement Intelligence Report

Several macro changes in the dynamics of overall Warehousing and Storage as well as Cable Drums procurement trends are poised to change the business practices and procurement thumb rules. Suppliers are increasingly adopting a demand-driven planning of their assets and resources to reduce costs and optimize operational efficiency. Part of the cost savings are passed on to buyers, but this also creates supply chain risks for them that need to be managed jointly with the supplier.

Large global suppliers are entering into JVs and M&As with vendors that can provide them a solid footing for regional play.

Businesses are focused on maintaining a lean inventory of raw materials, parts, components and finished goods. While it is a novel concept to keep the inventory costs in check, it also highly challenging to implement in a global sourcing context and requires a clock work like optimization of logistics and warehousing processes. Companies are moving to a completely digital supply chain footprint to reduce errors and risks associated with such strategies.

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

Cable Drums 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 Cable Drums procurement strategy.

For example, Buyers should enter in long-term partnerships and collaborative relationships with service providers to benefit from economies of scale and reduced cost. Long-term contracts are established to avoid renewal costs and avoid time spent on renegotiation.

It is important that buyers assess the operating model of service providers to determine the best-fit case for their organizations. Buyers need to determine if services offered by the providers are comprehensive and involve adequate resource support and a well-defined customizable execution plan.

Buyers should assess service providers' capability of predicting the weather, traffic, and other real-time information, which might affect shipments that are in transit or in its delivery times.

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