Multi-Functional Devices Sourcing and Procurement Report by Top Spending Regions and Market Price Trends - Forecast and Analysis 2020-2024

Multi-Functional Devices Sourcing and Procurement Report by Top Spending Regions and Market Price Trends - Forecast and Analysis 2020-2024

  • Published: Jan 2021
  • Pages: 120
  • SKU: IRCMSTR21789

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The report identifies Canon Inc., HP Inc., and Konica Minolta Inc. among the top most important suppliers for multi-functional devices procurement. Suppliers have a moderate bargaining power in a market which is set to grow at 3.13%. Therefore the price of multi-functional devices will increase by 2%-5% during the forecast period. 

Several strategic and tactical negotiation levers are explained in the report to help buyers achieve the best prices for multi-functional devices. The report also aids buyers with relevant multi-functional devices pricing levels, pros and cons of prevalent pricing models such as fixed pricing model, volume-based pricing model, and competition-based pricing and category management strategies and best practices to fulfill their category objectives.

Multi-Functional Devices Procurement: Strategies and Category Management

A targeted strategic approach to multi-functional devices sourcing can unlock several opportunities for buyers. Still, we see that buyers have a pre-dominantly transaction-based approach towards the category and miss out on cost-saving opportunities in the absence of actionable intelligence on multi-functional devices procurement market.

Strategic Sourcing and Enablers

During our interactions with category managers, it is often cited that buyers have a moderate bargaining power in the multi-functional devices market. Our sourcing experts believe that a holistic category management approach can help buyers further maximize the value on their multi-functional devices procurement. The report explains key category management objectives that should form the base for multi-functional devices sourcing strategy, including:

  • Category innovations
  • Cost savings
  • Reduction of TCO
  • Adherence to regulatory nuances
  • Supply base rationalization
  • Supply assurance
  • Green initiatives
  • Top-line growth
  • Scalability of inputs
  • Demand forecasting and governance
  • Customer retention
  • Minimalization of ad hoc purchases

In addition to identifying the strategic goals and initiatives for the category management, it is also important to create the necessary support structure to facilitate their implementation. The report identifies multiple enablers that can help maximize the efficiency of multi-functional devices category management.

This report provides in-depth inputs on streamlining your multi-functional devices category management practices. Request for a FREE sample for detailed answers on:

  • What should be my strategic sourcing objectives, activities, and enablers for multi-functional devices category?
  • Which negotiation levers can I pull for cost-saving?
  • What are multi-functional devices procurement best practices I should be promoting in my supply chain

Multi-Functional Devices Procurement: Top Suppliers

Leading global suppliers can assist buyers in realizing high-cost savings through their efforts on areas such as vertical integration, reducing total ownership cost, managing commodity price volatility, negotiate on pricing and contractual terms, ad-hoc spend management, adoption of automation, quality management, managing inventory shrinkage, and conference participation. By collaborating with global suppliers, buyers can easily implement cost-saving and assure themselves of high-quality procurement of multi-functional devices during diverse situations.

Key Suppliers and Supplier Management 

This report offers key advisory and intelligence to help buyers identify and shortlist the most suitable suppliers for their multi-functional devices requirements. Some of the leading multi-functional devices suppliers profiled extensively in this report include:

  • Canon Inc.
  • HP Inc.
  • Konica Minolta Inc.
  • KYOCERA Corp.
  • Ricoh Co. Ltd.
  • Xerox Corp.
  • Brother Industries Ltd.
  • Oki Electric Industry Co. Ltd.
  • Seiko Epson Corp.
  • Eastman Kodak Co.

warranties, user-friendliness of the suppliers equipment models, per-page pricing, and geographic proximity of suppliers manufacturing facilities are some of the most critical parameters that buyers use to shortlist the suppliers in multi-functional devices. Shortlisted suppliers must be carefully evaluated and scrutinized against business needs, technical specifications, operational requirements, security compliance, regulatory mandates, legal requirements, quality control, change management procedures, pricing models, penalty clauses, SLA nuances, acceptance criteria, and evaluation criteria and several other selection criteria described in detail by this report.

Request for a FREE sample for a complete understanding of multi-functional devices supplier landscape:

  • Am I engaging with the right suppliers?
  • Which KPIs should I use to evaluate my incumbent suppliers?
  • Which supplier selection criteria are relevant for multi-functional devices?
  • What are the multi-functional devices category essentials in terms of SLAs and RFx?

Multi-Functional Devices Procurement: Pricing Insights

Suppliers in this market have moderate bargaining power owing to moderate pressure from substitutes and a moderate level of threat from new entrants. Therefore, it is extremely important to get the pricing and pricing model right. Buyers can benchmark their preferred pricing models for multi-functional devices with the wider industry and identify the cost-saving potential. 

For example, fixed pricing model, volume-based pricing model, and competition-based pricing are the most widely adopted pricing models in the multi-functional devices. Each pricing model offers optimum benefits and fitment in specific situations. Buyers are advised to identify the model that suits their operations in the best manner and link supplier performance to the pricing models.

Price Strategies and Benchmark

Additionally, it is crucial to keep track of current and future multi-functional devices price trends to completely optimize the value of the purchase, both from current cash outflow as well as overall cost and benefit perspective. The multi-functional devices report expects a change of 2%-5% during the forecast period. Price forecasts are beneficial in purchase planning, especially when supplemented by constant monitoring of price influencing factors described in the report.

Pricing insights presented in this report cover pricing benchmarks and the trends and strategies that can help optimize cost savings. Request for a FREE sample to access the definite purchasing guide on the multi-functional devices that answers all your key questions on price trends and analysis:

  • Am I paying/getting the right prices? Is my multi-functional devices TCO (total cost of ownership) favorable?
  • How is the price forecast expected to change? What is driving the current and future price changes?
  • Which pricing models offer the most rewarding opportunities?

Multi-Functional Devices Procurement: Spend Growth Analysis

The report provides a complete drill-down on global multi-functional devices spend outlook at a global as well as regional level. Current spend scenario, growth outlook, incremental spend, and other key information is available individually for North America, South America, Europe, Middle East and Africa, and APAC.

Spend Growth and Demand Segmentation

The multi-functional devices market will register an incremental spend of about $ 6 billion, growing at a CAGR of 3.13% during the five-year forecast period. Only a handful of regions will drive the majority of this growth. On the supply side, North America, South America, Europe, Middle East and Africa, and APAC will have the maximum influence owing to the supplier base.

The drivers and inhibitors that influence these global and regional outlooks are also elaborated in detail. Request for a FREE sample to access our in-depth growth decomposition analysis:

  • Is this growth cyclical?
  • When will the growth curve peak?
  • What is driving the growth (or lack of it) in individual geographies?
  • Which geographies hold the most rewarding opportunities for buyers and suppliers?
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Executive Summary

    Market Insights

      Category Pricing Insights

        Cost-saving Opportunities

          Best Practices

            Category Ecosystem

              Category Management Strategy

                Category Management Enablers

                  Suppliers Selection

                    Suppliers under Coverage

                      US Market Insights

                        Category scope

                          Appendix

                            Research Framework

                            SpendEdge presents a detailed picture of the market 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 sources

                            • Procurement heads
                            • Category managers
                            • Sourcing consortium professionals
                            • Industry experts and thought leaders
                            • Procurement managers
                            • Category heads of suppliers
                            • Client account heads/managers
                            • Client and industry consultants

                            Secondary sources

                            • Industry journals and reports
                            • Periodicals and new articles
                            • Category webinars
                            • Internal categiry playbooks
                            • Industry and government websites on regulations and compliance
                            • Internal databases
                            • Industry blogs/thought leader briefings

                            DATA ANALYSIS

                            Multi-Functional Devices Sourcing and Procurement Report by Top Spending Regions and Market Price Trends - Forecast and Analysis 2020-2024
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                            The multi-functional devices procurement market will grow at a CAGR of about 3.13% during 2020-2024.
                            During 2020-2024, the multi-functional devices procurement market will register an incremental spend of about $ 6 billion.
                            Canon Inc., HP Inc., Konica Minolta Inc., KYOCERA Corp., Ricoh Co. Ltd., Xerox Corp., Brother Industries Ltd., Oki Electric Industry Co. Ltd., Seiko Epson Corp., and Eastman Kodak Co. are some of the prominent suppliers in multi-functional devices market.
                            Fixed pricing model, volume-based pricing model, and competition-based pricing are the widely adopted pricing models in multi-functional devices procurement.
                            During the forecast period, the price for multi-functional devices procurement will increase by 2%-5%.