Laminated Wood Market Procurement Intelligence Report

A changing ecosystem within the Construction Supplies market also affects the procurement process, cost dynamics and supplier attractiveness for the buyers of Laminated Wood. The growing need for smarter and resilient construction has encouraged a rapid implementation of advanced BIM solutions. The integration of 4D BIM and geographical information system (GIS) is helping in improving construction productivity, construction supply chain management, material supplier selection, estimation of deliveries, and overall coordination between construction companies and material suppliers.

Suppliers across the value chain are increasing their investments in technologies and incorporating systems integrated with IoT, AI, Big data, and data analytics to generate efficiencies and better serve the evolving demand patterns of buyers. This is expected to impact the cost structure of suppliers in the short-term but will help bring down the costs in longer run as suppliers recover the costs of current investment cycles.

Construction activities and manufacturing of construction supplies are known to be a large source of emissions across the world. Regulatory and social pressures to keep emissions in check have transformed the way construction industry operates. Sustainable practices have penetrated the traditional business processes. There is an increasing demand for green buildings, low carbon concretes and other low emission construction aggregates and renewable energy solutions. All these factors are contributing to a significant change in the procurement standards and practices within the category.

Laminated Wood 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 Laminated Wood procurement strategy.

For example, Buyers should engage with service providers that offer a wide portfolio and can act as a one-stop solution provider for multifaceted requirements of projects. This enables buyers to save significant costs and increases their spend visibility.

Establishing strategic partnerships with suppliers allow category managers to enhance management and planning vision. By adopting a strategic engagement approach, buyers can optimize their category spend by streamlining the category management process. For instance, a risk/reward-sharing approach for construction management providers helps buyers to transfer ownership of projects to service providers.

Buyers must have a clear understanding of the sub-contracting policies of suppliers. Suppliers must be evaluated on factors such as price, quality, and regulatory compliance of their subcontractors before they are selected.

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