A complete buyer's guide that provides comprehensive insights on Equipment Maintenance Services category spend, spend growth and regional segmentation; in-depth price trends; negotiation levers and analysis of Equipment Maintenance Services suppliers.
This report on global Equipment Maintenance Services category is part of a larger series of reports on global Operation of Industrial Facilities market. The scope of Operation of Industrial Facilities spans multiple categories and is typically identified as a procurement category that includes all spend related to the operations of industrial facilities excluding costs incurred on salary, materials or consultancy.
Business practices within Equipment Maintenance Services market are heavily influenced by changing trends across the category as well as within the broader Operation of Industrial Facilities market. 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 Equipment Maintenance Services without affecting the performance. 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. Suppliers have historically gained handsome margin-on-margin by sub-contracting a part of their work to another contractor. However, Buyers are now delving deep into the business models of suppliers and negotiating hard to avoid further sub-contracting. In cases where it is imperative to sub-contract, category managers are employing should-cost models to keep supplier margins on sub-contracting to the minimal. As a result, category managers need to closely monitor the Equipment Maintenance Services procurement trends and identify changes required in their procurement environment for the category.
The report discusses in detail the best practices that have served well the category managers responsible for Equipment Maintenance Services procurement. For example, Buyers should evaluate the true costs of each product and service within the scope of work for supplier, and also understand the hidden costs associated. This can help them to set accurate targets for cost reduction for their suppliers, and effectively monitor and evaluate their performance against industry benchmarks. 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. Investing in benchmarking studies that help category managers enhance their knowledge on pricing or billing rates of suppliers allows them to not only save costs, but also negotiate better with suppliers. For example, while negotiating for bundled services, they can save significantly on a single service by cross-verifying rates quoted by suppliers against industry benchmarks.
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Equipment Maintenance Services procurement managers also need to proactively identify and mitigate potential risks that can arise in the supply chain or contracts for Equipment Maintenance Services procurement. Some examples include:
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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!!
You may have just initiated your research to design a winning Equipment Maintenance Services procurement strategy, or you may be a category expert looking for strategic insights and updated data.Either ways, the report has your requirements covered.
The report is intended to serve as a one-stop reference guide for Equipment Maintenance Services 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 “Equipment Maintenance Services: Procurement Report 101” as well as for category experts actively tracking the global Equipment Maintenance Services procurement market.
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The Equipment Maintenance Services 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 Equipment Maintenance Services 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 Equipment Maintenance Services procurement spend and pricing trends. The report further delves deep into the aspects of cost structure, total cost of ownership and supplier margins for Equipment Maintenance Services. 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 Equipment Maintenance Services 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 Equipment Maintenance Services 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 Equipment Maintenance Services 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.
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