Chick Peas | Intelligence Report | Procurement.Spendedge

Strategic Sourcing Guide to Chick Peas Procurement

Overview

Environmental Goods market around the world is undergoing rapid transitions that have a massive potential to influence the way companies strategize for Chick Peas procurement and the cost they have to incur. The global industry has seen a gradual increase in labor cost due to several factors, such as shortage of a trained workforce, increase in minimum wages, regulations around employee benefits and declining appeal for what have been traditionally called unskilled jobs. As the employee expenses increase, suppliers are compelled to pass some of this increase to their buyers by charging higher prices.

Suppliers are disrupting traditional business models with new offerings and terms. These disruptions are also necessitating buyers to relook their procurement practices and standards with respect to supplier selection and price benchmarking activities.

Many suppliers are trying to enhance the efficiencies and productivity within their operations through investment in new technologies and an overhaul of processes. Some of these initiatives are likely to influence their cost structure adversely till the time they recover their investments. However, a successful implementation of these programs can benefit them with a better cost proposition in the longer run.

Chick Peas Procurement Best Practices

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

For example, Buyers can consider engaging suppliers that use advanced technologies such as automation, robotics, and lean manufacturing in their manufacturing process. The use of such technologies enables suppliers to control their OPEX and reduce TAT, which will help buyers avail volume-based discounts on category purchases.

Buyers need to evaluate the in-depth expertise of suppliers in the Chick Peas 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 need to employ robust should-cost models and total cost of ownership models to aid Chick Peas supplier selection and pricing negotiations.

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Risks in Chick Peas procurement

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

Changes in the regulations pertaining to import and export of goods significantly impact the category. For instance, imposition of tariffs and restriction on import of certain raw materials disrupts the whole industry
Contract-related risks where unfavorable credit terms may severly penalize buyers for delayed payments or entitle the supplier to demand pre-payments or shorten the payment terms are not very common in the category but they do exist in certain situations where buyers' liquidity or financial health is in question
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

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

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

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Key questions on Chick Peas procurement answered by 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!!

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

Chick Peas Category Insights: What is inside

The Chick Peas 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 Chick Peas procurement spend and pricing trends. The report further delves deep into the aspects of cost structure, total cost of ownership and supplier margins for Chick Peas. 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 Chick Peas 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 Chick Peas 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?”

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Category Research Framework

SpendEdge presents a detailed picture of Chick Peas 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.