Light Oils Market Procurement Intelligence Report

Access curated Light Oils procurement intelligence and solve all your questions on Light Oils procurement outlook, cost saving opportunities in Light Oils procurement and potential Light Oils partners.

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This report on global Light Oils category is part of a larger series of reports on global Non-Medical Chemicals Minerals and Gases market. The scope of Non-Medical Chemicals Minerals and Gases spans multiple categories and is typically identified as a procurement category that includes all spend on procurement, transportation, conservation and storage of industrial chemicals, minerals and gases. Spend on similar products for medical and pharmaceutical usage is excluded from this category.

Key questions on L4 procurement answered by this report

Strategic Sourcing Guide to Light Oils Procurement

Overview

The market for Non-Medical Chemicals Minerals and Gases and its sub-segments such as Light Oils are at an interesting intersection. 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.

Suppliers of Light Oils are moving up the value chain - both organically as well as through M&As. Their portfolios are increasingly being diversified with the objective of offering integrated solutions that go beyond just Light Oils. Even buyers are engaging vendors who can act as a one-stop solution provider across their geographic footprint. Such strategic engagements can help buyers with savings associated with economies of scale and management of a much smaller supplier base.

Volatility in the prices of key inputs is creating multiple issues that impact procurement within Light Oils category such as benchmarking and budgeting of the procurement costs.

Trends like these and many others discussed in this report are necessitating a relook at the way Light Oils is procured and the procurement cost saving opportunities that exist.

Light Oils Procurement Best Practices

The report discusses in detail the best practices that have served well the category managers responsible for Light Oils procurement.

For example, Buyers must have a clear understanding of the subcontracting policies, if any, of Light Oils 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 repurchase used products at fair market value. This assists buyers to dispose of used products in a convenient manner. Also, during such repurchases, suppliers provide credits to buyers for future purchases. This reduces overall procurement costs for buyers.

Strong R&D focus is the sign of a supplier committed to enhancing the quality and cost proposition of its solutions. Buyers should collaborate with such suppliers for development of low-cost but highly efficiency products that can bring their OPEX down.


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Risks in Light Oils procurement

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


  • With changing technologies, the manufacturing, packaging and labelling requirements have become more stringent than ever across geographies globally. RFID tags, temperature sensors, and barcode scanners, have become common requirements across the category. There is also an increase in the adoption of technologies such as AI and IoT. Therefore, suppliers incur excessive costs to keep upgrading their technology and to ensure maintenance of these technologies across various stages of the product category
  • 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
  • Political and regulatory changes pose significant risks to the category. For instance, imposition of tariffs on raw materials required to manufacture the finished goods increases costs. Similarly, restrictions on import of goods or raw materials from a particular country also contributes to significant risks. Additionally, insufficient IPR protection and product liability lawsuits lead turnout to be huge risk factors for the category

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Who should read this report

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

     

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

Light Oils Category Insights: What is inside

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