Plain Labels | Market, Trends, Growth | Suppliers Analysis

Strategic Sourcing Guide to Plain Labels Procurement

Overview

Business practices within Plain Labels market are heavily influenced by changing trends across the category as well as within the broader Printed Products market. Buyers prefer to engage suppliers whose offerings span beyond Plain Labels. The practice brings in several advantages such as rationalization of supplier base, economies of scale and reduced category management cost.

The category is expected to experience a moderate price rise resulting from increasing investment in technologies and automation by commercial printing companies, but long-term price outlook remains positive for buyers as suppliers are expected to recover the technological investments soon.

Availability of mobile print solutions where a buyer's employees can use any mobile device to send a document for printing from a remote location has transformed the procurement decisions within overall print management category.

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

Plain Labels 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 Plain Labels procurement insights and hand picks best practices that can work for category managers delving in this market.

For example, Buyers prefer to engage with service providers that adopt hedging techniques to mitigate the effects of fluctuations in printing ink prices. The majority of printing inks are primarily derivatives of crude oil, the prices of which are highly volatile. Thus, engaging with service providers that adopt hedging will allow buyers to minimize the impact of price fluctuations pertaining to printing inks during the contract tenure.

Buyers would benefit from engaging with service providers that display a high level of adoption of technologies such as web-to-print, workflow automation software, and remote proofing. These technologies would, in turn, enable buyers to achieve savings in their printing budgets, improve print quality, provide better visibility over the printing project, and offer greater flexibility over the printing project.

Buyers must clearly define clauses pertaining to the ownership of subcontracted services that are not part of their service providers' portfolios. This is necessary to ensure service consistency and control over sensitive data that are shared with sub-contracted firms.

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Risks in Plain Labels procurement

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

Procurement without consulting the actual users of Plain Labels may result in a mismatch in expectations of the buyer's internal stakeholders versus the actual contract executed
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
Paper, ink, other raw materials, and fuel form important cost components for the broader print services category. However, the supply of raw materials such as fuel and paper is highly dependent on demand-supply fluctuations. Any increase in prices of these raw materials may critically affect the cash flow of commercial print suppliers and subsequently affect their ability to invest in CAPEX projects

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Who should read this report

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

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

Plain Labels Category Insights: What is inside

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