The report identifies Koninklijke Philips N.V., OSRAM Licht AG, and Cree Inc. among the top most important suppliers for industrial lighting procurement. Suppliers have moderate bargaining power in a market that is set to grow at 2.13%.
Several strategic and tactical negotiation levers are explained in the report to help buyers achieve the best prices for industrial lighting. The report also aids buyers with relevant industrial lighting pricing levels, pros and cons of prevalent pricing models such as fixed pricing, volume-based pricing, and cost-plus pricing and category management strategies and best practices to fulfill their category objectives.
Industrial Lighting Procurement: Strategies and Category Management
A targeted strategic approach to industrial lighting sourcing can unlock several opportunities for buyers. Still, we see that buyers have a pre-dominantly transaction-based approach towards the category and miss out on cost-saving opportunities in the absence of actionable intelligence on industrial lighting procurement market.
Strategic Sourcing and Enablers
During our interactions with category managers, it is often cited that buyers have moderate bargaining power in the industrial lighting market. Our sourcing experts believe that a holistic category management approach can help buyers further maximize the value on their industrial lighting procurement. The report explains key category management objectives that should form the base for industrial lighting sourcing strategy, including:
- Supply assurance
- Category innovations
- Green initiatives
- Cost savings
- Adherence to regulatory nuances
- Supply base rationalization
- Demand forecasting and governance
- Minimalization of ad hoc purchases
- Reduction of TCO
- Customer retention
- Top-line growth
- Scalability of inputs
In addition to identifying the strategic goals and initiatives for the category management, it is also important to create the necessary support structure to facilitate their implementation. The report identifies multiple enablers that can help maximize the efficiency of industrial lighting category management.
This report provides in-depth inputs on streamlining your industrial lighting category management practices. Request for a FREE sample for detailed answers on:
- What should be my strategic sourcing objectives, activities, and enablers for the industrial lighting category?
- Which negotiation levers can I pull for cost-saving?
- What are industrial lighting procurement best practices I should be promoting in my supply chain
Industrial Lighting Procurement: Top Suppliers
Leading global suppliers can assist buyers in realizing high-cost savings through their efforts on areas such as vertical integration, managing commodity price volatility, negotiate on pricing and contractual terms, ad-hoc spend management, operations automation, quality management, reducing inventory shrinkage, conference participation, and supplier synergies. By collaborating with global suppliers, buyers can easily implement cost-saving and assure themselves of high-quality procurement of industrial lighting during diverse situations.
Key Suppliers and Supplier Management
This report offers key advisory and intelligence to help buyers identify and shortlist the most suitable suppliers for their industrial lighting requirements. Some of the leading industrial lighting suppliers profiled extensively in this report include:
- Koninklijke Philips N.V.
- OSRAM Licht AG
- Cree Inc.
- General Electric Co.
- Eaton Corp. Plc
- Emerson Electric Co.
- Hubbell Incorp.
- Zumtobel Group AG
- Acuity Brands Lighting, Inc.
- LG Innotek
Product portfolio, assurance of energy-savings, efficiency in measurement and verification, and VMI capabilities are some of the most critical parameters that buyers use to shortlist the suppliers in industrial lighting. Shortlisted suppliers must be carefully evaluated and scrutinized against business needs, technical specifications, operational requirements, security compliance, regulatory mandates, quality control, change management procedures, pricing models, SLA nuances, acceptance criteria, penalty clauses, legal requirements, and evaluation criteria and several other selection criteria described in detail by this report.
Request for a FREE sample for a complete understanding of industrial lighting supplier landscape:
- Am I engaging with the right suppliers?
- Which KPIs should I use to evaluate my incumbent suppliers?
- Which supplier selection criteria are relevant for industrial lighting?
- What are the industrial lighting category essentials in terms of SLAs and RFx?
Industrial Lighting Procurement: Pricing Insights
Suppliers in this market have moderate bargaining power owing to low pressure from substitutes and a low level of threat from new entrants. Therefore, it is extremely important to get the pricing and pricing model right. Buyers can benchmark their preferred pricing models for industrial lighting with the wider industry and identify the cost-saving potential.
For example, fixed pricing, volume-based pricing, and cost-plus pricing are the most widely adopted pricing models in industrial lighting. Each pricing model offers optimum benefits and fitment in specific situations. Buyers are advised to identify the model that suits their operations in the best manner and link supplier performance to the pricing models.
Price Strategies and Benchmark
Additionally, it is crucial to keep track of current and future industrial lighting price trends to completely optimize the value of the purchase, both from current cash outflow as well as overall cost and benefit perspective. Price forecasts are beneficial in purchase planning, especially when supplemented by constant monitoring of price influencing factors described in the report.
Pricing insights presented in this report cover pricing benchmarks and the trends and strategies that can help optimize cost savings. Request for a FREE sample to access the definite purchasing guide on the industrial lighting that answers all your key questions on price trends and analysis:
- Am I paying/getting the right prices?
- Is my industrial lighting TCO (total cost of ownership) favorable?
- How is the price forecast expected to change?
- What is driving the current and future price changes?
- Which pricing models offer the most rewarding opportunities?
Industrial Lighting Procurement: Spend Growth Analysis
The report provides a complete drill-down on global industrial lighting spend outlook at a global as well as regional level. Current spend scenario, growth outlook, incremental spend, and other key information is available individually for North America, South America, Europe, Middle East and Africa, and APAC.
Spend Growth and Demand Segmentation
The industrial lighting market will register an incremental spend of about $1 billion, growing at a CAGR of 2.13% during the five-year forecast period. Only a handful of regions will drive the majority of this growth. On the supply side, North America, South America, Europe, Middle East and Africa, and APAC will have the maximum influence owing to the supplier base.
The drivers and inhibitors that influence these global and regional outlooks are also elaborated in detail. Request for a FREE sample to access our in-depth growth decomposition analysis:
- Is this growth cyclical?
- When will the growth curve peak?
- What is driving the growth (or lack of it) in individual geographies?
- Which geographies hold the most rewarding opportunities for buyers and suppliers?