Lifting Accessories Category Procurement Intelligence Report

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

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Our category grouping process defines that the overall Warehousing and Storage market includes all spend related to warehousing and storage including equipment, packaging and charges for space and miscellaneous expenses to run the storage facility. Dynamics of the global Lifting Accessories market play out within this wider arena of Warehousing and Storage market. Therefore, our coverage of the Lifting Accessories category also operates within this broader boundary of the overall Warehousing and Storage market.

Key questions on L4 procurement answered by this report

Strategic Sourcing Guide to Lifting Accessories Procurement

Overview

A changing ecosystem within the Warehousing and Storage market also affects the procurement process, cost dynamics and supplier attractiveness for the buyers of Lifting Accessories. Cyber security has emerged as a top priority within logistics and supply chain ecosystems. New accountability standards are emerging for the way suppliers and buyers collaborate and protect sensitive information and assets.

Large global suppliers are entering into JVs and M&As with vendors that can provide them a solid footing for regional play.

Sustainability has emerged as a pivotal theme for procurement decisions related to supply chain. Companies are expecting their suppliers to internalize globally accepted sustainability practices and demonstrate a solid history of putting in practice similar principles. It is worth noting that practices of sustainability are not limited to only environmental impact but has taken a greater meaning of practices that can reduce the overall cost of operations in the long term.

Lifting Accessories Procurement Best Practices

As market conditions become more dynamic and procurement practices get more sophisticated, category managers need to be cognizant of the best practices that work for their Lifting Accessories category procurement. The report offers a succinct analysis of Lifting Accessories procurement best practices.

For example, Buyers should negotiate to get the best add-on services from their suppliers, such as real-time tracking, route optimization, big data analytics to plan and forecast future requirements and Six Sigma practices to ensure the procurement of quality services.

Buyers should assess service providers' capability of predicting the weather, traffic, and other real-time information, which might affect shipments that are in transit or in its delivery times.

Buyers should enter in long-term partnerships and collaborative relationships with service providers to benefit from economies of scale and reduced cost. Long-term contracts are established to avoid renewal costs and avoid time spent on renegotiation.


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Risks in Lifting Accessories procurement

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


  • Procurement without consulting the actual users of Lifting Accessories may result in a mismatch in expectations of the buyer's internal stakeholders versus the actual contract executed
  • IT risks related to security breach and malfunction and disruption in the operation of the systems pose significant risks in the category market. Also, there is an increasing competition from startups and technology providers that implement emerging technologies such as big data analytics and IoT that offer platform-based and dedicated delivery solutions pose significant risks to the suppliers
  • When requirements of the buyers are not absolutely clear or usage patterns are not stable or predictable, suppliers often build in \"cost buffers\" for unforeseen risks due to a lack of complete understanding on buyer's requirements. This increases the risk of overspending on Lifting Accessories

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Who should read this report

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

     

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

Lifting Accessories Category Insights: What is inside

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