Oil & Gas Well Maintenance Category Procurement Intelligence Report

A purchasing guide for Oil & Gas Well Maintenance – rich advisory on spend outlook in Oil & Gas Well Maintenance, pricing analysis for Oil & Gas Well Maintenance procurement cost benchmarking, negotiation strategies and key vendors of Oil & Gas Well Maintenance.

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This report on global Oil & Gas Well Maintenance category is part of a larger series of reports on global Technical Services market. The scope of Technical Services spans multiple categories and is typically identified as a procurement category that includes all spend related to technical services used to fill a skills gap for the defined subject areas where the service requirement includes delivery or implementation in a technical domain such as engineering, forensic and laboratory, preservation and technical development and design. Materials and consultancy are not part of this category unless the contract specifically provides for their inclusion.

Key questions on L4 procurement answered by this report

Strategic Sourcing Guide to Oil & Gas Well Maintenance Procurement

Overview

Technical Services market around the world is undergoing rapid transitions that have a massive potential to influence the way companies strategize for Oil & Gas Well Maintenance procurement and the cost they have to incur. New locations and vendors are emerging as cost effective suppliers of Oil & Gas Well Maintenance, offering an opportunity to widen the supplier base and gain further negotiation leverage with incumbent suppliers.

Suppliers are increasingly offering a 'bundle' of services which is marketed as a cost saving option. The bundled offering often includes services that are not required by the buyer or are charged at a much higher rate than an A la carte option with another supplier.

Suppliers are introducing self-service tools such as virtual agents in their customer service ecosystem to reduce the time and costs incurred by customers to resolve an issue.

Oil & Gas Well Maintenance 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 Oil & Gas Well Maintenance category procurement. The report offers a succinct analysis of Oil & Gas Well Maintenance procurement best practices.

For example, Adequate RFP response time should be built in for prospective suppliers to enable them understand the scope and performance requirements.

There are increased exposure risks of confidential data such as product and service information, operations, and customer information when engaging a third-party supplier. Buyers must engage with suppliers that use encryption technologies, password protection, access control solutions, and proper training schedules to prevent possible information breach.

Buyers should set a baseline against which the performance of suppliers can be benchmarked along with setting measurable/quantifiable KPIs. Defined KPIs provides suppliers with clarity on the scope. Besides setting standards for operations, pricing, and performance, KPIs must provide tangible goals in terms of the quality of solutions.


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Risks in Oil & Gas Well Maintenance procurement

Oil & Gas Well Maintenance procurement managers also need to proactively identify and mitigate potential risks that can arise in the supply chain or contracts for Oil & Gas Well Maintenance procurement. Some examples include:


  • 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
  • Pricing terms in the contract could prove to be inadequate to safeguard the buyer from impact of a sudden increase in supplier's cost, often arising from a lack of clarity on scope of products or services to be delivered
  • Procurement without consulting the actual users of Oil & Gas Well Maintenance may result in a mismatch in expectations of the buyer's internal stakeholders versus the actual contract executed

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Who should read this report

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

     

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

Oil & Gas Well Maintenance Category Insights: What is inside

The Oil & Gas Well Maintenance 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 Oil & Gas Well Maintenance procurement spend and pricing trends. The report further delves deep into the aspects of cost structure, total cost of ownership and supplier margins for Oil & Gas Well Maintenance. 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 Oil & Gas Well Maintenance 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 Oil & Gas Well Maintenance 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 Oil & Gas Well Maintenance 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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