Gantry Cranes Market Procurement Intelligence Report

The market for Engineering Products and Equipment and its sub-segments such as Gantry Cranes are at an interesting intersection. Volatility in the prices of key inputs is creating multiple issues that impact procurement within Gantry Cranes category such as benchmarking and budgeting of the procurement costs.

Suppliers are under an enhanced pressure to offer greater quality, options that suit unique requirements and overall experience of the customer stakeholders involved.

Suppliers of Gantry Cranes are moving up the value chain - both organically as well as through M&As. Their portfolios are increasingly being diversified with the objective of offering integrated solutions that go beyond just Gantry Cranes. Even buyers are engaging vendors who can act as a one-stop solution provider across their geographic footprint. Such strategic engagements can help buyers with savings associated with economies of scale and management of a much smaller supplier base.

Trends like these and many others discussed in this report are necessitating a relook at the way Gantry Cranes is procured and the procurement cost saving opportunities that exist.

The report discusses in detail the best practices that have served well the category managers responsible for Gantry Cranes procurement.

For example, Buyers should engage with suppliers that have adopted a global delivery model as it reduces buyers' risk. In this model, any disaster/emergency at any operating facility of supplier will result in the work being transferred to a different facility, thereby ensuring continuity of the project and reduced risk for buyers. This model also provides buyers access to skilled labor from across the globe, thereby improving the quality of engineering products provided by the supplier.

Buyers should engage with suppliers that repurchase used products at fair market value. This assists buyers to dispose of used products in a convenient manner. Also, during such repurchases, suppliers provide credits to buyers for future purchases. This reduces overall procurement costs for buyers.

Buyers should assess the level of adoption of the latest technologies by suppliers to assess cost-saving opportunities and quality that can be provided by the latter. For instance, the adoption of technologies such as cloud computing will enable suppliers to reduce their internal computing hardware requirements for operations such as CAD and CAM. This can, in turn, enable them to reduce their operating costs, thereby suppliers can offer products at lower rates to buyers.

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