Lifeboats Market Procurement Intelligence Report

A purchasing guide for Lifeboats – rich advisory on spend outlook in Lifeboats, pricing analysis for Lifeboats procurement cost benchmarking, negotiation strategies and key vendors of Lifeboats.

Lifeboats is an essential part of the Non-Military Vehicles category which includes spend on non-military vehicles, not including road or operational fleet that should be recording in the fleet category.

Key questions on L4 procurement answered by this report

Strategic Sourcing Guide to Lifeboats Procurement

Overview

Business practices within Lifeboats market are heavily influenced by changing trends across the category as well as within the broader Non-Military Vehicles market. Volatility in the prices of key inputs is creating multiple issues that impact procurement within Lifeboats category such as benchmarking and budgeting of the procurement costs.

Several structural changes including M&As and vertical integration efforts of suppliers are characterizing the broader market. Such strategic developments can erode the strength of previously established supplier relationships due to changed realities in the supplier's ecosystem. At the same time, buyers may also find opportunities to onboard new suppliers with a wider range of offerings or better contract terms for .

Regulatory guidance on data protection and increasing concern over cybersecurity have increased the costs for suppliers as they incur additional spend on compliance and security. These additional costs have a potential to drive marginal increase in prices across the key geographies.

As a result, category managers need to closely monitor the Lifeboats procurement trends and identify changes required in their procurement environment for the category.

Lifeboats Procurement Best Practices

Sometimes, procurement functions are unable to timely alter their practices while responding to market conditions. Industry experts acknowledge that periodically reviewing procurement best practices and adopting learnings from across procurement categories can help procurement teams respond to market needs in a more agile way. This report combines our experience of other categories with Lifeboats procurement insights and hand picks best practices that can work for category managers delving in this market.

For example, Buyers need to evaluate the in-depth expertise of suppliers in the Lifeboats industry. This can be assessed by considering factors such as the years of experience, number of resources that have multi-year experience of working in the same industry and at least 3 to 5 credentials for the supplier.

Buyers must have a clear understanding of the subcontracting policies, if any, of Lifeboats suppliers. Factors such as cost incurred, service quality, adherence to timelines, and regulatory compliance of subcontractors employed by suppliers should be carefully assessed prior to engagement.

Buyers should engage with suppliers that have adopted a global delivery model as it reduces buyers' risk. In this model, any disaster/emergency at any operating facility of supplier will result in the work being transferred to a different facility, thereby ensuring continuity of the project and reduced risk for buyers. This model also provides buyers access to skilled labor from across the globe, thereby improving the quality of engineering products provided by the supplier.


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Risks in Lifeboats procurement

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


  • Crude oil is one of the major factors that determines the risks associated with the category as fuel costs account for a major portion of the suppliers' cost structure. Volatility in the prices of crude oil significantly impacts the overall costs incurred in the category
  • 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
  • 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 Lifeboats 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 “Lifeboats: Procurement Report 101” as well as for category experts actively tracking the global Lifeboats procurement market.

     

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

Lifeboats Category Insights: What is inside

  • A comprehensive drill down on category sourcing execution: Data, insights, advisory

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

  • Unrivalled breadth of category analysis: at your fingertips

    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
  • A lucid, easy to read format: Enabling fast decisions

    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 Lifeboats 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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