Deep-Frozen Food Products | Intelligence Report

Strategic Sourcing Guide to Deep-Frozen Food Products Procurement

Overview

Business practices within Deep-Frozen Food Products market are heavily influenced by changing trends across the category as well as within the broader Food and Beverages market. Buyers of Deep-Frozen Food Products are insisting on hard evidence to support cost reduction. Suppliers are responding with elaborate matrix of KPIs that provide managers actionable data on supplier performance and cost savings achieved.

The category has historically lagged in tech adoption due to inadequate skillsets of majority of workforce and the perennial requirement to reduce facilities related cost. Therefore, suppliers who have demonstrated technological prowess to achieve efficiencies are being preferred over traditional vendors.

Several macro level trends such as slowing economic growth, trade conflicts, rising wages and technological disruptions have put pressure on managers to reduce their spend on Deep-Frozen Food Products without affecting the performance.

As a result, category managers need to closely monitor the Deep-Frozen Food Products procurement trends and identify changes required in their procurement environment for the category.

Deep-Frozen Food Products Procurement Best Practices

The report discusses in detail the best practices that have served well the category managers responsible for Deep-Frozen Food Products procurement.

For example, Buyers should set a baseline against which the performance of suppliers can be benchmarked along with setting measurable/quantifiable KPIs. Defined KPIs provides suppliers with clarity on the scope. Besides setting standards for operations, pricing, and performance, KPIs must provide tangible goals in terms of the quality of solutions.

Buyers must ensure the participation and collaboration of all related cross-functional teams (procurement, electrical, engineering, and housekeeping) in category management and planning activities. This is crucial, as these teams will be the primary end-users of the services offered by suppliers, and this step will ensure consistency in services.

Benefits of an integrated program are more apparent over a period of 5-7 years, and the goal in such relationships is to achieve cost savings and improve performance in the long run. Buyers should opt for suppliers that have a track record of long-term engagements as this will increase the probability of these suppliers sustaining in a mutually beneficial relationship for a longer duration.

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Risks in Deep-Frozen Food Products procurement

Deep-Frozen Food Products procurement managers also need to proactively identify and mitigate potential risks that can arise in the supply chain or contracts for Deep-Frozen Food Products procurement. Some examples include:

Procurement without consulting the actual users of Deep-Frozen Food Products 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 Deep-Frozen Food Products
Workers may have to handle hazardous substances/materials. Non-compliance to the safety standards and working without using the personal protective equipment can result in accidents and affect operations. Workers are also required to work at heights while carrying out cleaning activities. Non-adoption of precautionary measures by workers can lead to fatalities or severe injuries, thus negatively impacting the reputation of buyers

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Who should read this report

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

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

Deep-Frozen Food Products Category Insights: What is inside

The Deep-Frozen Food Products 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 Deep-Frozen Food Products procurement spend and pricing trends. The report further delves deep into the aspects of cost structure, total cost of ownership and supplier margins for Deep-Frozen Food Products. 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 Deep-Frozen Food Products 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 Deep-Frozen Food Products 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 Deep-Frozen Food Products 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.