Fleet Cards | Market, Trends, Growth | Suppliers Analysis

Strategic Sourcing Guide to Fleet Cards Procurement

Overview

Several macro changes in the dynamics of overall Purchase as well as Fleet Cards procurement trends are poised to change the business practices and procurement thumb rules. Traditionally procurement functions had a greater say in deciding the specifics of orders. However, recent trends indicate that all departments of a company, even drivers are included in the decision making and feedback loop. This creates opportunities to benefit for cross learnings but also increases the co-ordination and conflict management tasks of category managers.

Regulatory changes are taking place more frequently and, in some cases, randomly. It is getting difficult to align procurement with all the new regulations, especially when category managers are responsible for multiple regions with different regulations.

Increased availability of options both in terms of suppliers and new propositions from suppliers is also influencing the procurement trends for Fleet Cards and improving leverage for buyers in some cases.

Category managers need to take note of the potential of these developments and reassess the changes required in their procurement practices.

Fleet Cards Procurement Best Practices

It has become imperative for category managers to remain as agile as possible in terms of their procurement practices. However, it is not always easy to quickly spot and implement alternative practices in a category like Fleet Cards. To help quick decision making, this report advises on several procurement best practices that have worked well for category managers.

For example, Performing regular preventative maintenance for the assets will help buyers achieve productivity and profitability. Moreover, performing preventive maintenance from time-to-time will help buyers sustain a highly operational fleet, which will reduce operation-related costs for buyers/service providers. Ineffective preventive maintenance will drive the additional cost incurred by buyers and increase in downtime of the fleets.

Buyers should evaluate service providers ability to innovate and reduce carbon emissions from traditional fuel-based vehicles, without compromising on cost and quality aspects.

The adoption of advanced technologies such as telematics and IVMS enables buyers to track vehicles, increase fuel efficiency, reduce carbon emissions, and increase cost savings. These technologies ensure buyers safety and increase the efficiency of their fleet.

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Risks in Fleet Cards procurement

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

When requirements of the buyers are not absolutely clear or usage patterns are not stable or predictable, suppliers often build in \"cost buffers\" for unforeseen risks due to a lack of complete understanding on buyer's requirements. This increases the risk of overspending on Fleet Cards
Pricing terms in the contract could prove to be inadequate to safeguard the buyer from impact of a sudden increase in supplier's cost, often arising from a lack of clarity on scope of products or services to be delivered
Lack of efficient training to drivers can cause accidents and traffic violations, which in turn can cause severe injuries and fatalities

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Who should read this report

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

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

Fleet Cards Category Insights: What is inside

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