Mobile Drilling Derricks | Intelligence Report

Strategic Sourcing Guide to Mobile Drilling Derricks Procurement

Overview

A changing ecosystem within the Purchase market also affects the procurement process, cost dynamics and supplier attractiveness for the buyers of Mobile Drilling Derricks. Regulatory changes are taking place more frequently and, in some cases, randomly. It is getting difficult to align procurement with all the new regulations, especially when category managers are responsible for multiple regions with different regulations.

Accident prevention features are more effective and cost friendly then they were even three years ago, opening opportunities to reduce Total Cost of Ownership.

Telematics has found excellent adoption rates the world over and its adoption is only expected to grow more. This is creating challenges for category managers in aligning the specifications to the use of preferred telematics solutions as well as extending procurement activities to this new but still less understood category of products and services.

Mobile Drilling Derricks 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 Mobile Drilling Derricks category procurement. The report offers a succinct analysis of Mobile Drilling Derricks procurement best practices.

For example, Vehicle replacement cycles is a mechanism used to calculate maintenance and depreciation-related costs associated with a vehicle. Service providers perform such calculations on behalf of buyers. Vehicle replacement cycles enable end-users to follow safety measures and minimize operating costs. These are calculated after a certain mileage or specific years of use. Furthermore, buyers should engage with service providers that offer analysis with respect to fuel consumed as well as provide maintenance and repair services.

Buyers should adopt strategic contract management activities as it helps them to avoid additional costs. Additional mileage allocation, interest rate, residual value and terms related to capitalized cost reduction are some of the terms that can be included by the buyers in the contract terms.

Buyers should engage with service providers that utilize technologies to generate reports with respect to fleet condition and services delivered.

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Risks in Mobile Drilling Derricks procurement

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

The rise in awareness about air pollution is forcing buyers to collaborate with service providers that adopt green initiatives. A few of the factors that cause pollution from fleet vehicles are the use of outdated vehicles, inferior quality fuel, and poor maintenance
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
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 Mobile Drilling Derricks

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Who should read this report

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

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

Mobile Drilling Derricks Category Insights: What is inside

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