Radio Beacons Market Procurement Intelligence Report

The market for Networking and its sub-segments such as Radio Beacons are at an interesting intersection. New locations and vendors are emerging as cost effective suppliers of Radio Beacons, offering an opportunity to widen the supplier base and gain further negotiation leverage with incumbent suppliers.

Stringency in the regulatory norms pertaining to data protection and cybersecurity has increased compliance and security burden on suppliers. These additional costs have a potential to drive marginal increase in prices across the key geographies.

Rise in the cost of certain essential assets and supplies required to deliver Radio Beacons is making a significant addition to the supplier's overall expenditure. This could have an inflationary impact on buyer's procurement expenditure in the Radio Beacons market.

Trends like these and many others discussed in this report are necessitating a relook at the way Radio Beacons is procured and the procurement cost saving opportunities that exist.

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

For example, Procurement functions should develop custom processes to gain better visibility and involve Radio Beacons suppliers early in the procurement process.

Transferring to a new supplier can be often costly and can further get exacerbated by instances of vendor lock-ins. Buyers must scrutinize the offerings of service providers for any possibilities of vendor lock-ins and demand client testimonials from service providers to assess such possibilities. Watch out for products/services that are priced excessively low, as they can often result in costly lock-ins.

Buyers must clearly define clauses pertaining to the ownership of subcontracting services that are not a part of preferred suppliers' portfolios. Subcontractors should be bound by the same terms and conditions as the main contractor to ensure consistency in quality and manage any adverse event such as data breach.

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