Network Attached Storage Devices | Market, Trends, Growth | Suppliers Analysis

Strategic Sourcing Guide to Network Attached Storage Devices Procurement

Overview

A changing ecosystem within the Networking market also affects the procurement process, cost dynamics and supplier attractiveness for the buyers of Network Attached Storage Devices. Stringency in the regulatory norms pertaining to data protection and cybersecurity has increased compliance and security burden on suppliers. These additional costs have a potential to drive marginal increase in prices across the key geographies.

The cut-throat competition in the category is compelling suppliers to go aggressive on their pricing structure and increase their spend on sales and marketing activities. As a result, most suppliers are feeling a pressure on their margins and trying to offer higher margin value added services to have a better control on their profitability.

Buyers are showing an inclination to onboard suppliers whose offerings span beyond Network Attached Storage Devices. The practice brings in several advantages such as rationalization of supplier base, economies of scale and reduced category management cost.

Network Attached Storage Devices Procurement Best Practices

Sometimes, procurement functions are unable to timely alter their practices while responding to market conditions. Industry experts acknowledge that periodically reviewing procurement best practices and adopting learnings from across procurement categories can help procurement teams respond to market needs in a more agile way. This report combines our experience of other categories with Network Attached Storage Devices procurement insights and hand picks best practices that can work for category managers delving in this market.

For example, Category managers must explore opportunities to integrate planning and management activities using analytics to gain better control over category spend. This will also allow them to consolidate supply base easily as well as segment service providers depending on requirements and spend on each service provider.

It is important for category managers to track and measure the performance of suppliers against a defined set of KPIs that are agreed upon by both parties. Buyers should engage with providers that offer mobile applications and online dashboards to monitor essential performance parameters of the products and services procured.

Adequate RFP response time should be built in for prospective suppliers to enable them understand the scope and usage patterns properly.

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Risks in Network Attached Storage Devices procurement

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

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 Network Attached Storage Devices
Procurement without consulting the actual users of Network Attached Storage Devices may result in a mismatch in expectations of the buyer's internal stakeholders versus the actual contract executed
Privacy regulations regarding the information gathered, used, and exchanged by service providers vary across regions. This increases the risk of non-compliance, which can lead to the payment of hefty fines and penalties

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Who should read this report

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

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

Network Attached Storage Devices Category Insights: What is inside

The Network Attached Storage Devices 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 Network Attached Storage Devices procurement spend and pricing trends. The report further delves deep into the aspects of cost structure, total cost of ownership and supplier margins for Network Attached Storage Devices. 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 Network Attached Storage Devices 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 Network Attached Storage Devices 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 Network Attached Storage Devices 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.