Marine Navigation Equipment | Intelligence Report

Strategic Sourcing Guide to Marine Navigation Equipment Procurement

Overview

A changing ecosystem within the Operation of Infrastructure market also affects the procurement process, cost dynamics and supplier attractiveness for the buyers of Marine Navigation Equipment. Shortage of skilled manpower is a prime reason to seek suppliers of Marine Navigation Equipment. However, even suppliers of Marine Navigation Equipment are facing the same problem which is impacting their OPEX and thereby pricing structure.

Several macro level trends such as slowing economic growth, trade conflicts, rising wages and technological disruptions have put pressure on managers to reduce their spend on Marine Navigation Equipment without affecting the performance.

Even as technological prowess of suppliers is increasing and processes are routinely being digitalized, there is a growing concern around putting critical data and information in the hands of a third party. Buyers are making elaborate contracts that aim to prevent intentional or unintentional data leakage or theft.

Marine Navigation Equipment 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 Marine Navigation Equipment category procurement. The report offers a succinct analysis of Marine Navigation Equipment procurement best practices.

For example, It is important for category managers to track and measure suppliers' performance against a defined set of KPIs (agreed to by both parties during contract negotiation). The result of suppliers' performance can be directly linked to the quality of support provided.

Cost saving opportunities may reduce exponentially in relation to the time left for current contract to expire or required timeline to start the engagement. Therefore sufficient interval should exist between initation of new procurement and expected start date of the new contract for Marine Navigation Equipment.

There is a shift in focus toward minimizing emissions and energy usage to achieve sustainability goals. Buyers should monitor and evaluate the energy consumption of suppliers' operations before procurement. This also helps adherence with standards mandated by various national and international regulatory authorities.

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Risks in Marine Navigation Equipment procurement

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

The industry is directly linked to economic and political environments. Changes in government policies and economic instability negatively impacts the industry, thereby posing challenges to the suppliers. For instance, changes in tax regulations can affect profit margins of suppliers, thereby hindering their capabilities to offer improved services within the set timelines
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 Marine Navigation Equipment
Suppliers may face a situation where they are unable to honor a contract in its entirety due to shortage of resources, finances or capabilities. While contractual terms safeguard buyers from the non-performance, their operations could still face massive disruptions due to suppliers' non-performance

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Who should read this report

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

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

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Marine Navigation Equipment Category Insights: What is inside

The Marine Navigation Equipment 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 Marine Navigation Equipment procurement spend and pricing trends. The report further delves deep into the aspects of cost structure, total cost of ownership and supplier margins for Marine Navigation Equipment. 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 Marine Navigation Equipment 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 Marine Navigation Equipment 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?”

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Category Research Framework

SpendEdge presents a detailed picture of Marine Navigation Equipment 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.