Embossing Services Market Procurement Intelligence Report

A changing ecosystem within the Printing Services market also affects the procurement process, cost dynamics and supplier attractiveness for the buyers of Embossing Services. Buyers prefer to engage suppliers whose offerings span beyond Embossing Services. The practice brings in several advantages such as rationalization of supplier base, economies of scale and reduced category management cost.

High procurement costs put a hindrance for buyers looking for upgrading or replacing a printing asset. As an alternative, suppliers are offering cost-effective re-engineering capabilities such as retrofitting of existing equipment with new systems.

The category is expected to experience a moderate price rise resulting from increasing investment in technologies and automation by commercial printing companies, but long-term price outlook remains positive for buyers as suppliers are expected to recover the technological investments soon.

Embossing Services procurement best practices are moving towards a level of sophistication which is typically seen in traditional procurement categories. Category managers now have an attractive opportunity to adapt the best practices seen within this category as well as those being leveraged in other non-related categories. This report summarizes the best practices picked from across multiple categories that could work well for category managers involved with Embossing Services procurement strategy.

For example, Buyers can use standard scorecards to evaluate service providers and offer necessary comments to rationalize the given scores. This will help document the decision-making process.

Buyers prefer to engage with service providers that adopt hedging techniques to mitigate the effects of fluctuations in printing ink prices. The majority of printing inks are primarily derivatives of crude oil, the prices of which are highly volatile. Thus, engaging with service providers that adopt hedging will allow buyers to minimize the impact of price fluctuations pertaining to printing inks during the contract tenure.

Buyers should assess factors such as their overall printing requirements, quality of prints required, and need to repeat orders. Such information can be used to take a decision on choosing between a domestic service provider or an offshore service provider based in a low-cost country. Buyers can also choose to attain a balance between offshoring and domestic engagement to optimize their cost-saving opportunities.

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