Drafting Supplies | Intelligence Report

Strategic Sourcing Guide to Drafting Supplies Procurement

Overview

The market for Office Supplies and its sub-segments such as Drafting Supplies are at an interesting intersection. As a smaller indirect spend category, has largely escaped the intense scrutiny and analysis that procurement functions extend to most direct spend categories. However, some of the suppliers have begun to offer intelligent solutions to procure and analyze expenditure on each of the items so that effective budgeting can be done. Given the trend, more vendors are expected to offer such tools to buyers.

Service providers are incurring incremental expenditure on technology with the procurement and operation of advanced technologies and software to improve efficiencies and better serve the customers. Increasing technology-related expenditure is expected to have an inflationary impact on the procurement price offered to the buyers.

Most of the developing countries in the world are going through rapid growth in their manufacturing, services and outsourcing sectors, leading to an increasing number of offices. Suppliers are rising to the challenge to induct solutions within their portfolio that are suited for the varied demand patterns that emerge from this expanding customer base.

Trends like these and many others discussed in this report are necessitating a relook at the way Drafting Supplies is procured and the procurement cost saving opportunities that exist.

Drafting Supplies 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 Supplies category procurement. The report offers a succinct analysis of Drafting Supplies procurement best practices.

For example, Advanced data analytics systems should be actively used to identify compliance issues, demand, and price tracking.

Buyers should proactively manage relations with Drafting Supplies suppliers and have pre-determined intervention criteria for onboarding or replacing a supplier, changing specifications or terms and conditions.

Buyers should engage with suppliers that can offer environment-friendly solutions that help reduce the carbon footprint. Some examples are products made from natural resins, recycled plastics, and wood from managed forests which are often ignored by SMEs/unorganized suppliers.

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Risks in Drafting Supplies procurement

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

Offsite storage facilities face the risk of natural disasters such as earthquakes and floods that can lead to huge business losses. Hence, buyers should choose storage facilities based on climate control measures adopted, location of facilities, and fire suppression systems
Procurement without consulting the actual users of Drafting Supplies may result in a mismatch in expectations of the buyer's internal stakeholders versus the actual contract executed
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 Drafting Supplies 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 Supplies: Procurement Report 101” as well as for category experts actively tracking the global Drafting Supplies procurement market.

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

The Drafting Supplies 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 Supplies 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 Supplies. 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 Supplies 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 Supplies 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 Drafting Supplies 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.