Data Storage Equipment & Systems | Suppliers | Pricing Trends , Best Practices

Strategic Sourcing Guide to Data Storage Equipment & Systems Procurement

Overview

The market for End User Software and Hardware and its sub-segments such as Data Storage Equipment & Systems are at an interesting intersection. Rise in the cost of certain essential assets and supplies required to deliver Data Storage Equipment & Systems is making a significant addition to the supplier's overall expenditure. This could have an inflationary impact on buyer's procurement expenditure in the Data Storage Equipment & Systems market.

In a bid to differentiate themselves in an overcrowded technology space, suppliers are now focusing on creating industry-specific specialized products. Buyers see this trend as an opportunity to procure more targeted solutions and are developing internal capabilities to identify and leverage innovations in the supplier base.

Buyers are showing an inclination to onboard suppliers whose offerings span beyond Data Storage Equipment & Systems. The practice brings in several advantages such as rationalization of supplier base, economies of scale and reduced category management cost.

Trends like these and many others discussed in this report are necessitating a relook at the way Data Storage Equipment & Systems is procured and the procurement cost saving opportunities that exist.

Data Storage Equipment & Systems Procurement Best Practices

The report discusses in detail the best practices that have served well the category managers responsible for Data Storage Equipment & Systems procurement.

For example, Adequate RFP response time should be built in for prospective suppliers to enable them understand the scope and usage patterns properly.

Developing a strong understanding of the potential vulnerabilities of service providers can help buyers limit their potential losses and also gives the bargaining power to demand services from more robust measures in the SLA.

Category managers must explore opportunities to integrate planning and management activities using analytics to gain better control over category spend. This will also allow them to consolidate supply base easily as well as segment service providers depending on requirements and spend on each service provider.

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Risks in Data Storage Equipment & Systems procurement

Data Storage Equipment & Systems procurement managers also need to proactively identify and mitigate potential risks that can arise in the supply chain or contracts for Data Storage Equipment & Systems procurement. Some examples include:

Procurement without consulting the actual users of Data Storage Equipment & Systems may result in a mismatch in expectations of the buyer's internal stakeholders versus the actual contract executed
When requirements of the buyers are not absolutely clear or usage patterns are not stable or predictable, suppliers often build in \"cost buffers\" for unforeseen risks due to a lack of complete understanding on buyer's requirements. This increases the risk of overspending on Data Storage Equipment & Systems
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

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Who should read this report

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

You may have just initiated your research to design a winning Data Storage Equipment & Systems 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 Data Storage Equipment & Systems 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 Data Storage Equipment & Systems 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 Data Storage Equipment & Systems market?
What is the correct price to pay for Data Storage Equipment & Systems? What are the key trends and factors that influence current and future pricing?
Which selection criteria are the most important for Data Storage Equipment & Systems Suppliers Market?
Who are the top Data Storage Equipment & Systems suppliers? What are their cost structures?
Which negotiation levers can reduce Data Storage Equipment & Systems procurement cost ?
What are supplier margins in Data Storage Equipment & Systems market?
What are the best practices for Data Storage Equipment & Systems 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!

Data Storage Equipment & Systems Category Insights: What is inside

The Data Storage Equipment & Systems 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 Data Storage Equipment & Systems procurement spend and pricing trends. The report further delves deep into the aspects of cost structure, total cost of ownership and supplier margins for Data Storage Equipment & Systems. 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 Data Storage Equipment & Systems 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 Data Storage Equipment & Systems 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 Data Storage Equipment & Systems 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.