Plums | Intelligence Report | Procurement.Spendedge

Strategic Sourcing Guide to Plums Procurement

Overview

Several macro changes in the dynamics of overall Environmental Goods as well as Plums procurement trends are poised to change the business practices and procurement thumb rules. Buyers are moving towards longer contract durations with suppliers of Plums to benefit from value-based discounts, integrated products and services, lower renewal cost and lesser expenses on contracting activities.

Many suppliers are trying to enhance the efficiencies and productivity within their operations through investment in new technologies and an overhaul of processes. Some of these initiatives are likely to influence their cost structure adversely till the time they recover their investments. However, a successful implementation of these programs can benefit them with a better cost proposition in the longer run.

Technology is improving productivity and creating fresh demand. Convergence of data science, automation tools, 3D printing, robotics, AI and big data has opened up multiple possibilities to better serve customers at a lower operational cost.

Category managers need to take note of the potential of these developments and reassess the changes required in their procurement practices.

Plums Procurement Best Practices

It has become imperative for category managers to remain as agile as possible in terms of their procurement practices. However, it is not always easy to quickly spot and implement alternative practices in a category like Plums. To help quick decision making, this report advises on several procurement best practices that have worked well for category managers.

For example, Buyers can consider engaging suppliers that use advanced technologies such as automation, robotics, and lean manufacturing in their manufacturing process. The use of such technologies enables suppliers to control their OPEX and reduce TAT, which will help buyers avail volume-based discounts on category purchases.

Buyers should proactively manage relations with Plums suppliers and have pre-determined intervention criteria for onboarding or replacing a supplier, changing specifications or terms and conditions.

Buyers need to evaluate the in-depth expertise of suppliers in the Plums industry. This can be assessed by considering factors such as the years of experience, number of resources that have multi-year experience of working in the same industry and at least 3 to 5 credentials for the supplier.

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Risks in Plums procurement

Plums procurement managers also need to proactively identify and mitigate potential risks that can arise in the supply chain or contracts for Plums 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
Contract-related risks where unfavorable credit terms may severly penalize buyers for delayed payments or entitle the supplier to demand pre-payments or shorten the payment terms are not very common in the category but they do exist in certain situations where buyers' liquidity or financial health is in question
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

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Who should read this report

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

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

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Plums Category Insights: What is inside

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