Fuel Oil Market Procurement Intelligence Report

A purchasing guide for Fuel Oil – rich advisory on spend outlook in Fuel Oil, pricing analysis for Fuel Oil procurement cost benchmarking, negotiation strategies and key vendors of Fuel Oil.

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Our category grouping process defines that the overall Fuel market includes all spend related to the provision of fuels including solid and liquid fuels. It may also include spend related to transporation and storage of fuel across different geographic locations across the globe as well as any spend on additives to enhance performance of the fuel. Dynamics of the global Fuel Oil market play out within this wider arena of Fuel market. Therefore, our coverage of the Fuel Oil category also operates within this broader boundary of the overall Fuel market.

Key questions on L4 procurement answered by this report

Strategic Sourcing Guide to Fuel Oil Procurement

Overview

Several macro changes in the dynamics of overall Fuel as well as Fuel Oil procurement trends are poised to change the business practices and procurement thumb rules. Suppliers have put greater emphasis on evaluation of their traditional business models and find opportunities that can create value for themselves as well as their clients.

The operating environment keep getting complicated with enhanced regulatory scrutiny and compliance requirements for buyers of Fuel Oil category.

Digitization of assets, processes and systems has enabled new value propositions and cost saving opportunities within the Fuel Oil category.

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

Fuel Oil Procurement Best Practices

Fuel Oil 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 Fuel Oil procurement strategy.

For example, Buyers of fuels must adopt regional sourcing model to obtain the benefits of reduced logistics costs, reduced inventory costs and lower turnaround times.

Buyers need to employ robust should-cost models and total cost of ownership models to aid Fuel Oil supplier selection and pricing negotiations.

Suppliers of fuels need to have robust logistics capabilities in terms of their transportation reach. This will ensure that the fuel will be supplied till buyers' distribution facilities such as the fuel stations and thus minimizing buyer's effort to transport the fuels from the ports to their facilities .In addition, the supplier must also ensure that the packaging solutions provided and the transport modes used such as the pipeline systems and the rails are well-maintained to minimize spills and spoils.


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Risks in Fuel Oil procurement

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


  • Suppliers may face a situation where they are unable to honor a contract in its entirety due to shortage of resources, finances or capabilities. While contractual terms safeguard buyers from the non-performance, their operations could still face massive disruptions due to suppliers' non-performance
  • Severe weather conditions such as cyclones, floods, tsunamis, and earthquakes can significantly impact the value chains. Moreover, they can result in costly damages to human resources, facilities and infrastructure which can lead to inconsistency in supply
  • Low product differentiation is making it difficult for suppliers to acquire new clients. Hence, there is intense competition among top players based on pricing. They are also adopting strategic initiatives such as reduction in prices of their products to gain market share. This is resulting in a reduction in their profit margins

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Who should read this report

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

     

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

Fuel Oil Category Insights: What is inside

The Fuel Oil 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 Fuel Oil procurement spend and pricing trends. The report further delves deep into the aspects of cost structure, total cost of ownership and supplier margins for Fuel Oil. 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 Fuel Oil 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 Fuel Oil 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?”

Category Research Framework


SpendEdge presents a detailed picture of Fuel Oil 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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