Floor Coverings Market Procurement Intelligence Report

Access curated Floor Coverings procurement intelligence and solve all your questions on Floor Coverings procurement outlook, cost saving opportunities in Floor Coverings procurement and potential Floor Coverings partners.

Scope of the report

This report on global Floor Coverings category is part of a larger series of reports on global Office Furniture, Fixtures and Fittings market. The scope of Office Furniture, Fixtures and Fittings spans multiple categories and is typically identified as a procurement category that includes all spend related to the provision of furniture and fixtures and fittings for use within office, sales, production, storage, reception, workstation, meeting, training, boardroom, and waiting room areas, but does not include spend on office machines or equipment.

KEY PROCUREMENT INSIGHTS COVERED

Strategic Sourcing Guide to Floor Coverings Procurement

Overview

A changing ecosystem within the Office Furniture, Fixtures and Fittings market also affects the procurement process, cost dynamics and supplier attractiveness for the buyers of Floor Coverings. Many companies are looking to engage Floor Coverings supplies in a long-term partnership to derive the highest ROI possible and creating an environment of trust and collaboration that allows for new optimization strategies.

With advancement in technology, service providers are employing diverse tools in their operations to identify opportunities for optimization and greater collaboration with the customers.

As market presence of companies become global, there is a growing preference towards service providers who can provide services seamlessly across the globe and have excellent understanding of local regulations and culture.

Floor Coverings Procurement Best Practices

Floor Coverings 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 Floor Coverings procurement strategy.

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.

Benefits of an integrated program are more apparent over a period of 5-7 years, and the goal in such relationships is to achieve cost savings and improve performance in the long run. Buyers should opt for suppliers that have a track record of long-term engagements as this will increase the probability of these suppliers sustaining in a mutually beneficial relationship for a longer duration.

Category managers must explore opportunities to integrate planning and management activities of categories using analytics, to gain better control over category spend. This will also allow them to consolidate their supply base easily, as well as to segment suppliers based on requirements and spend on each supplier.


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Risks in Floor Coverings procurement

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


  • Suppliers regularly outsource services such as housekeeping and food services to the third-party vendors. However, when third- party vendors fail to offer service due to technical or operational constraints, this results in significant losses to the buyers
  • Suppliers are often faced with challenges such as shortage of labor, as the demand for FM services is very high. Shortages can interrupt operations, leading to delay in projects and cost overruns
  • 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

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Who should read 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!!

    You may have just initiated your research to design a winning Floor Coverings 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 Floor Coverings 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 “Floor Coverings: Procurement Report 101” as well as for category experts actively tracking the global Floor Coverings procurement market.

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Key questions on Floor Coverings procurement answered by this report

    The Floor Coverings 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 Floor Coverings market?
    • What is the correct price to pay for Floor Coverings? What are the key trends and factors that influence current and future pricing?
    • Which selection criteria are the most important for Floor Coverings Suppliers Market?
    • Who are the top Floor Coverings suppliers? What are their cost structures?
    • What are supplier margins in Floor Coverings market?
    • Which negotiation levers can reduce Floor Coverings procurement cost ?
    • What are the best practices for Floor Coverings 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!

Floor Coverings Category Insights: What is inside

  • A comprehensive drill down on category sourcing execution: Data, insights, advisory

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

  • Unrivalled breadth of category analysis: at your fingertips

    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
  • A lucid, easy to read format: Enabling fast decisions

    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?”

Category Research Framework

SpendEdge presents a detailed picture of Floor Coverings 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.

Information Sources

Primary research
Secondary research
Procurement heads
Industry journals and reports
Category managers
Periodicals and new articles
Sourcing consortium professionals
Category webinars
Industry experts and thought leaders
Internal categiry playbooks
Procurement managers
Industry/government websites on regulations, compliance
Category heads of suppliers
Internal databases
Client account heads/managers
Industry blogs/thought leader briefings
Client and industry consultants

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