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