Label Tags Category Procurement Intelligence Report

The report provides a comprehensive coverage on Label Tags category spend growth and regional spend segmentation insights, Label Tags price trends and Label Tags supply market analysis.

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This report on global Label Tags category is part of a larger series of reports on global Printed Products market. The scope of Printed Products spans multiple categories and is typically identified as a procurement category that includes all spend related to the provision of printed products that may be required to carry out daily operations, promotional activities or special events. The spend may encompass books, booklets, brochures, leaflets, business stationery, cards, forms, labels, manuals, maps, pictures, publications, secure printing, tags, transfers and tickets.

Key questions on L4 procurement answered by this report

Strategic Sourcing Guide to Label Tags Procurement

Overview

Printed Products market around the world is undergoing rapid transitions that have a massive potential to influence the way companies strategize for Label Tags procurement and the cost they have to incur. Buyers prefer to engage suppliers whose offerings span beyond Label Tags. The practice brings in several advantages such as rationalization of supplier base, economies of scale and reduced category management cost.

The category is expected to experience a moderate price rise resulting from increasing investment in technologies and automation by commercial printing companies, but long-term price outlook remains positive for buyers as suppliers are expected to recover the technological investments soon.

High procurement costs put a hindrance for buyers looking for upgrading or replacing a printing asset. As an alternative, suppliers are offering cost-effective re-engineering capabilities such as retrofitting of existing equipment with new systems.

Label Tags Procurement Best Practices

Label Tags 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 Label Tags procurement strategy.

For example, Cross-platform color management refers to the management of colors among computer operating systems. Cross-platform color management helps in translating color across different devices with the help of color profiles. Buyers should asses the capability and compatibility of a supplier's solution for cross-platform color management.

Buyers must clearly define clauses pertaining to the ownership of subcontracted services that are not part of their service providers' portfolios. This is necessary to ensure service consistency and control over sensitive data that are shared with sub-contracted firms.

Personalization of posters, cards, and messages have a high impact on end-consumers during marketing campaigns and therefore, preferred suppliers must have the capabilities to offer personalization in digital printing.


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Risks in Label Tags procurement

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


  • Procurement without consulting the actual users of Label Tags may result in a mismatch in expectations of the buyer's internal stakeholders versus the actual contract executed
  • 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
  • Contract-related risks where unfavorable credit terms may severly penalize buyers for delayed payments or entitle the supplier to demand pre-payments or shorten the payment terms are not very common in the category but they do exist in certain situations where buyers' liquidity or financial health is in question

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Who should read this report

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

     

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

Label Tags Category Insights: What is inside

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