A buying guide for Co-Packing category – enriched with research on Co-Packing procurement spend patterns, Co-Packing pricing intelligence, market dynamics and top suppliers of Co-Packing.
GET FREE SAMPLESeveral macro changes in the dynamics of overall Warehousing and Storage as well as Co-Packing procurement trends are poised to change the business practices and procurement thumb rules. 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. Rise in minimum labor wages across countries such as the US and China will result in increased employee expenses for Co-Packing suppliers who will be forced to pass on a part of this increase to their buyers. Managing the logistics risks and building a resilient supply chain has taken the centerstage among corporate priorities. Companies are investing heavily to be able to detect disruptions in time and respond in a manner which does not put the core operations at risk. All suppliers within the ecosystem are expected to play their part and embrace the processes, tools and technologies that their customers have implemented to build a resilient supply chain. Category managers need to take note of the potential of these developments and reassess the changes required in their procurement 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 Co-Packing. To help quick decision making, this report advises on several procurement best practices that have worked well for category managers. For example, Buyers need to assess the level of automation provided and time required to obtain process efficiency, apart from checking if suppliers have the correct documentation for as-is processes and to-be processes to avoid any conflicts in implementation.Buyers need to discuss business goals and strategic imperatives with service providers to understand their mode of operation and establish control over important parameters of the supply chain.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.
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Co-Packing procurement managers also need to proactively identify and mitigate potential risks that can arise in the supply chain or contracts for Co-Packing procurement. Some examples include:
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The report is intended to serve as a one-stop reference guide for Co-Packing 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 “Co-Packing: Procurement Report 101” as well as for category experts actively tracking the global Co-Packing procurement market.
You may have just initiated your research to design a winning Co-Packing 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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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 Co-Packing 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:
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The Co-Packing 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.
A key highlight of this report is the in-depth outlook created on Co-Packing procurement spend and pricing trends. The report further delves deep into the aspects of cost structure, total cost of ownership and supplier margins for Co-Packing. A dedicated section to supplier profiles and evaluation helps decision makers cast a wider procurement net and identify gaps in existing relationships.
Along with specific category and supplier intelligence, the publication also includes curated insights on Co-Packing 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.
Additionally, the report also advises on the best practices and strategies to manage the Co-Packing 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.
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?”
SpendEdge presents a detailed picture of Co-Packing 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.
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