GPS Navigation Devices | Market, Trends, Growth | Suppliers Analysis

Strategic Sourcing Guide to GPS Navigation Devices Procurement

Overview

Several macro changes in the dynamics of overall Vehicle Conversion as well as GPS Navigation Devices 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.

With fuel prices going up in many geographies, category managers are under tremendous pressure to compensate by achieving a higher cost saving in procurement of GPS Navigation Devices.

Accident prevention features are more effective and cost friendly then they were even three years ago, opening opportunities to reduce Total Cost of Ownership.

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

GPS Navigation Devices Procurement Best Practices

The report discusses in detail the best practices that have served well the category managers responsible for GPS Navigation Devices procurement.

For example, Buyers should adopt strategic contract management activities as it helps them to avoid additional costs. Additional mileage allocation, interest rate, residual value and terms related to capitalized cost reduction are some of the terms that can be included by the buyers in the contract terms.

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

Instead of customarily fixing the contract length to one or two years, buyers should determine the contract length based on market conditions and their likely impact on cost in future.

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Risks in GPS Navigation Devices procurement

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

Procurement without consulting the actual users of GPS Navigation Devices may result in a mismatch in expectations of the buyer's internal stakeholders versus the actual contract executed
Improper maintenance of vehicles increases operational costs and it is done on regular basis. Continuous exposure of vehicles to heat, air, and moisture leads to oil degradation resulting in improper functioning of vehicles
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

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

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

GPS Navigation Devices Category Insights: What is inside

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