Print Labels | Market, Trends, Growth | Suppliers Analysis

Strategic Sourcing Guide to Print Labels Procurement

Overview

Several macro changes in the dynamics of overall Printed Products as well as Print Labels procurement trends are poised to change the business practices and procurement thumb rules. Rapid digitization of workspace and work processes has significantly reduced the use of paper in corporate world and therefore, industry has seen a consistent decline of print volumes. Still, the term \"paperless office\" will take years to become a common phenomenon. Print is here to stay and will co-exist with the digital document solutions in a \"paper-light\" corporate world.

Many large and mid-sized companies, especially from legal, financial, healthcare and real estate sectors are still heavily reliant on paper. Off late, there is a growing concern on security of documents - whether printed or stored digitally on a connected printing device. To address this concern, suppliers are coming forward with solutions that offer print and document security and monitoring services.

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.

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

Print Labels 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 Print Labels category procurement. The report offers a succinct analysis of Print Labels procurement best practices.

For example, Buyers should assess factors such as their overall printing requirements, quality of prints required, and need to repeat orders. Such information can be used to take a decision on choosing between a domestic service provider or an offshore service provider based in a low-cost country. Buyers can also choose to attain a balance between offshoring and domestic engagement to optimize their cost-saving opportunities.

Buyers can use standard scorecards to evaluate service providers and offer necessary comments to rationalize the given scores. This will help document the decision-making process.

Personalization of posters, cards, and messages have a high impact on end-consumers during marketing campaigns and therefore, preferred suppliers must have the capabilities to offer personalization in digital printing.

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Risks in Print Labels procurement

Print Labels procurement managers also need to proactively identify and mitigate potential risks that can arise in the supply chain or contracts for Print Labels 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 Print Labels
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

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Who should read this report

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

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

Print Labels Category Insights: What is inside

The Print 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 Print 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 Print 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 Print 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 Print 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 Print 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.