O-Rings Category Procurement Intelligence Report

Access curated O-Rings procurement intelligence and solve all your questions on O-Rings procurement outlook, cost saving opportunities in O-Rings procurement and potential O-Rings partners.

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This report on global O-Rings category is part of a larger series of reports on global Warehousing and Storage market. The scope of Warehousing and Storage spans multiple categories and is typically identified as a procurement category that includes all spend related to warehousing and storage including equipment, packaging and charges for space and miscellaneous expenses to run the storage facility.

Key questions on L4 procurement answered by this report

Strategic Sourcing Guide to O-Rings Procurement

Overview

Business practices within O-Rings market are heavily influenced by changing trends across the category as well as within the broader Warehousing and Storage market. Large global suppliers are entering into JVs and M&As with vendors that can provide them a solid footing for regional play.

Cyber security has emerged as a top priority within logistics and supply chain ecosystems. New accountability standards are emerging for the way suppliers and buyers collaborate and protect sensitive information and assets.

Rise in minimum labor wages across countries such as the US and China will result in increased employee expenses for O-Rings suppliers who will be forced to pass on a part of this increase to their buyers.

As a result, category managers need to closely monitor the O-Rings procurement trends and identify changes required in their procurement environment for the category.

O-Rings Procurement Best Practices

O-Rings procurement best practices are moving towards a level of sophistication which is typically seen in traditional procurement categories. Category managers now have an attractive opportunity to adapt the best practices seen within this category as well as those being leveraged in other non-related categories. This report summarizes the best practices picked from across multiple categories that could work well for category managers involved with O-Rings procurement strategy.

For example, Buyers need to assess the level of automation provided and time required to obtain process efficiency, apart from checking if suppliers have the correct documentation for as-is processes and to-be processes to avoid any conflicts in implementation.

Buyers prefer to engage with service providers that offer robust technological systems and leverage Internet-based systems to reduce cost and simplify visibility across the supply chain. Buyers should also assess the integration capabilities of software platforms offered by service providers to ensure that there are no additional costs incurred for software implementation.

It is important for category managers to track and measure supplier performance against a defined set of KPIs that are agreed upon by both parties during contract negotiation, including inventory accuracy, dock-to-stock, and on-time shipment. This is critical to ensure the optimal level of service. Suppliers' performance can also be linked to a part of their fee, which can be paid depending on the level of services rendered.


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Risks in O-Rings procurement

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


  • Procurement without consulting the actual users of O-Rings may result in a mismatch in expectations of the buyer's internal stakeholders versus the actual contract executed
  • IT risks related to security breach and malfunction and disruption in the operation of the systems pose significant risks in the category market. Also, there is an increasing competition from startups and technology providers that implement emerging technologies such as big data analytics and IoT that offer platform-based and dedicated delivery solutions pose significant risks to the suppliers
  • The volatility in fuel prices and capacity constraints affect the cost structures of suppliers. Fuel costs account for the largest part of the operational costs for the suppliers. Therefore, an increase in the fuel costs significantly increases the suppliers' operating expenditure

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Who should read this report

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

     

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

O-Rings Category Insights: What is inside

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