Drafting Category Procurement Intelligence Report

The report provides a comprehensive coverage on Drafting category spend growth and regional spend segmentation insights, Drafting price trends and Drafting supply market analysis.

GET FREE SAMPLE

Drafting is an essential part of the Technical Services category which includes all spend related to technical services used to fill a skills gap for the defined subject areas where the service requirement includes delivery or implementation in a technical domain such as engineering, forensic and laboratory, preservation and technical development and design. Materials and consultancy are not part of this category unless the contract specifically provides for their inclusion.

Key questions on L4 procurement answered by this report

Strategic Sourcing Guide to Drafting Procurement

Overview

Business practices within Drafting market are heavily influenced by changing trends across the category as well as within the broader Technical Services market. New locations and vendors are emerging as cost effective suppliers of Drafting, offering an opportunity to widen the supplier base and gain further negotiation leverage with incumbent suppliers.

Suppliers are introducing self-service tools such as virtual agents in their customer service ecosystem to reduce the time and costs incurred by customers to resolve an issue.

More and more buyers of Drafting are looking to engage suppliers who adhere to lean principles of business operations in a bid to receive services and resources that are highly optimized and insulates in part from cost overruns.

As a result, category managers need to closely monitor the Drafting procurement trends and identify changes required in their procurement environment for the category.

Drafting Procurement Best Practices

As market conditions become more dynamic and procurement practices get more sophisticated, category managers need to be cognizant of the best practices that work for their Drafting category procurement. The report offers a succinct analysis of Drafting procurement best practices.

For example, Investing in benchmarking studies help category managers improve their knowledge on market pricing or billing rates of suppliers by job role and function. This also allows them to save costs as well as negotiate better with service providers.

Category managers must ensure that they have clearly identified and listed down potential negotiation levers to maximize the value of their category spend before entering into contract-related discussions with service providers. Common negotiation levers to maximize value include deadlines, terms related to payments, (including fees, expenses, and payment timelines) and assistance required from the buyer's organization.

Cost saving opportunities may reduce exponentially in relation to the time left for current contract to expire or required timeline to start the engagement. Therefore sufficient interval should exist between initation of new procurement and expected start date of the new contract for Drafting.


Activate your free account to gain easy access to cutting edge research and insights on consumers, emerging price trends, global and regional suppliers.


Risks in Drafting procurement

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


  • Service providers are subject to E&O claims, due to the failure to correctly offer professional services as agreed in the contract. If such claims made by the client are found to be true, then they can result in financial penalties
  • Service providers rely on complex information systems to deliver their services, some of which might be outsourced. These systems are susceptible to virus attacks and security breaches. In the case of a loss of proprietary information or confidential information of the client's firm, service providers can become liable to pay hefty penalties
  • Procurement without consulting the actual users of Drafting may result in a mismatch in expectations of the buyer's internal stakeholders versus the actual contract executed

For detailed insights and complete access to our report library, activate your free account!

Who should read this report

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

     

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

SpendEdge Insights Subscription

Unlock SpendEdge's comprehensive procurement report collection with ease through our procurement platform.


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

Drafting Category Insights: What is inside

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

Category Research Framework


SpendEdge presents a detailed picture of Drafting 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.

Information Sources


Primary research
Secondary research
Procurement heads
Industry journals and reports
Category managers
Periodicals and new articles
Sourcing consortium professionals
Category webinars
Industry experts and thought leaders
Internal categiry playbooks
Procurement managers
Industry/government websites on regulations, compliance
Category heads of suppliers
Internal databases
Client account heads/managers
Industry blogs/thought leader briefings
Client and industry consultants

Related reports

Global Cathodic Protection Services Market - Procurement Intelligence Report

Global Concrete Pumping Services Market - Procurement Intelligence Report

Global Environmental Services Market - Procurement Intelligence Report

Global Permit Acquisition And Management Market - Procurement Intelligence Report

Global Seismic Data Processing Services Market - Procurement Intelligence Report

Global Predictive Maintenance Market - Procurement Intelligence Report

Global Coring Services Market - Procurement Intelligence Report

Global Slickline Services Market - Procurement Intelligence Report

Global Quality Control Market - Procurement Intelligence Report

Read More

Access this report and our entire procurement platform | Plans starting from USD 3000/ Year Buy Now

Copyright © 2024 Infiniti Research Limited. All Rights Reserved. Privacy NoticeTerms of UseSales and Subscription