Iridium Sourcing and Procurement Report by Top Spending Regions and Market Price Trends - Forecast and Analysis 2021-2025

Iridium Sourcing and Procurement Report by Top Spending Regions and Market Price Trends - Forecast and Analysis 2021-2025

  • Published: Jul 2021
  • Pages: 120
  • SKU: IRCMSTR22379

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Iridium Procurement - Sourcing and Intelligence Report on Price Trends and Spend & Growth Analysis

The iridium will grow at a CAGR of 9.58% during 2021-2025. Prices will increase by 4%-6% during the forecast period and suppliers will have a Moderate bargaining power in this market. Impala Platinum Holdings Ltd., PJSC MMC Norilsk Nickel, Royal Bafokeng Platinum, Sibanye Stillwater Ltd., Vale S.A., Umicore, Plasmaterials Inc., Zimbabwe Platinum Mines Pvt. Ltd., Colonial Metals Inc., and Anglo American plc are among the prominent suppliers in iridium market.

Who are the Top Suppliers in the Iridium Market?

Browse the table of contents & list of exhibits and sample illustrations on spend growth, pricing trends, etc.

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Leading global suppliers can assist buyers in realizing high-cost savings through their efforts in areas such as reducing total ownership cost, managing commodity price volatility, negotiate on pricing and contractual terms, ad-hoc spend management, adoption of automation, quality management, backward integration, supplier synergies, and conference participation. Collaborations with global suppliers will also help buyers in cost-saving and ensuring high-quality procurement in the dynamic market.

This report offers key advisory and intelligence to help buyers identify and shortlist the most suitable suppliers for their iridium requirements. Some of the leading iridium suppliers profiled extensively in this report include:

 

  • Impala Platinum Holdings Ltd.
  • PJSC MMC Norilsk Nickel
  • Royal Bafokeng Platinum
  • Sibanye Stillwater Ltd.
  • Vale S.A.
  • Umicore
  • Plasmaterials Inc.
  • Zimbabwe Platinum Mines Pvt. Ltd.
  • Colonial Metals Inc.
  • Anglo American plc

 

Supplier Selection and Evaluation

Profile and service capabilities of the service provider, industry specialization of the service providers, reputation of service providers, and assessment of value-added services are some of the most critical parameters that buyers use to shortlist the suppliers in iridium.

This report evaluates suppliers based on stability in prices, certification and compliance with local regulations, proximity to buyers facilities, and suppliers that help select the right grade of iridium metal. In addition, suppliers are also shortlisted based on business needs, technical specifications, operational requirements, security compliance, regulatory mandates, legal requirements, quality control, change management procedures, pricing models, penalty clauses, sla nuances, acceptance criteria, and evaluation criteria.

What are the Major Pricing Trends in Iridium Procurement?

The pressure from substitutes and a moderate level of threat from new entrants has resulted in the Moderate bargaining power of suppliers. This makes it extremely important to get the pricing and pricing model right. Buyers should align their preferred pricing models for iridium with the wider industry and identify the cost-saving potential.

volume-based pricing and spot pricing are the most widely adopted pricing models in the iridium. Each pricing model offers optimum benefits and fitment in specific situations. Buyers should identify the model that suits their operations in the best manner and link supplier performance to the pricing models.

Price Strategies and Benchmark

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To optimize the value of the purchase it is crucial to keep a track of current and future price trends. Price forecasts are beneficial in purchase planning, especially when supplemented by the constant monitoring of price influencing factors. During the forecast period, the market expects a change of 4%-6%.

  • Identify favorable opportunities in iridium TCO (total cost of ownership)
  • Expected changes in price forecast and factors driving the current and future price changes
  • Identify pricing models that offer the most rewarding opportunities

Will there be an Increase in the Spend Growth for Iridium Procurement?

The report provides a complete drill-down on global iridium 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

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The iridium market will register an incremental spend of about 1,043.7 $ million during the forecast period. Only a few 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. Our in-depth growth decomposition analysis covers details on:

  • Factors driving the growth (or lack of it) in individual geographies
  • Regions that hold the most rewarding opportunities for buyers and suppliers
  • Is the spend growth cyclical and when will the growth curve peak?

What are the Major Category Management Objectives for Iridium Sourcing?

A targeted strategic approach to iridium sourcing will provide several opportunities to buyers. However, in the absence of actionable intelligence on iridium, buyers have resulted in a transaction-based approach towards the category. The buyers have moderate bargaining power in this market and a holistic category management approach will help buyers maximize the value on their iridium procurement.

The report explains key category management objectives that should form the base for sourcing strategy, including:

 

  • Supply assurance
  • Category innovations
  • Cost savings
  • Adherence to regulatory nuances
  • Top-line growth
  • Supply base rationalization
  • Demand forecasting and governance
  • Minimalization of ad hoc purchases
  • Reduction of TCO
  • Customer retention
  • Green initiatives
  • Scalability of inputs

 

In addition to helping buyers in identifying the strategic goals and initiatives for category management, the report will also help create the necessary support structure to facilitate implementation. This report provides in-depth inputs on streamlining category management practices and provides detailed answers on:

  • The strategic sourcing objectives, activities, and enablers for iridium category
  • Iridium procurement best practices to promote in my supply chain

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Executive Summary

    Market Insights

      Category Pricing Insights

        Cost-saving Opportunities

          Best Practices

            Category Ecosystem

              Category Management Strategy

                Category Management Enablers

                  Suppliers Selection

                    Suppliers under Coverage

                      US Market Insights

                        Category scope

                          Appendix

                            Research Framework

                            SpendEdge presents a detailed picture of the market 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 sources

                            • Procurement heads
                            • Category managers
                            • Sourcing consortium professionals
                            • Industry experts and thought leaders
                            • Procurement managers
                            • Category heads of suppliers
                            • Client account heads/managers
                            • Client and industry consultants

                            Secondary sources

                            • Industry journals and reports
                            • Periodicals and new articles
                            • Category webinars
                            • Internal categiry playbooks
                            • Industry and government websites on regulations and compliance
                            • Internal databases
                            • Industry blogs/thought leader briefings

                            DATA ANALYSIS

                            Iridium Sourcing and Procurement Report by Top Spending Regions and Market Price Trends - Forecast and Analysis 2021-2025
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