Refined Fats Market Procurement Intelligence Report

A complete buyer's guide that provides comprehensive insights on Refined Fats category spend, spend growth and regional segmentation; in-depth price trends; negotiation levers and analysis of Refined Fats suppliers.

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This report on global Refined Fats category is part of a larger series of reports on global Food and Beverages market. The scope of Food and Beverages spans multiple categories and is typically identified as a procurement category that includes all spend relating to raw food and beverages required to prepare meals for clients and staff. If the food has been provided as a meal, then it should be excluded from this category.

Key questions on L4 procurement answered by this report

Strategic Sourcing Guide to Refined Fats Procurement

Overview

The market for Food and Beverages and its sub-segments such as Refined Fats are at an interesting intersection. With advancement in technology, service providers are employing diverse tools in their operations to identify opportunities for optimization and greater collaboration with the customers.

The category has historically lagged in tech adoption due to inadequate skillsets of majority of workforce and the perennial requirement to reduce facilities related cost. Therefore, suppliers who have demonstrated technological prowess to achieve efficiencies are being preferred over traditional vendors.

Several macro level trends such as slowing economic growth, trade conflicts, rising wages and technological disruptions have put pressure on managers to reduce their spend on Refined Fats without affecting the performance.

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

Refined Fats 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 Refined Fats. To help quick decision making, this report advises on several procurement best practices that have worked well for category managers.

For example, Buyers must clearly define clauses pertaining to the ownership of sub-contracting services that are not a part of their preferred suppliers' portfolios. This will ensure consistency in the services of sub-contracted firms as well as protection of confidential data.

Category managers must explore opportunities to integrate planning and management activities of categories using analytics, to gain better control over category spend. This will also allow them to consolidate their supply base easily, as well as to segment suppliers based on requirements and spend on each supplier.

Buyers should evaluate the true costs of each product and service within the scope of work for supplier, and also understand the hidden costs associated. This can help them to set accurate targets for cost reduction for their suppliers, and effectively monitor and evaluate their performance against industry benchmarks.


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Risks in Refined Fats procurement

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


  • Suppliers are often faced with challenges such as shortage of labor, as the demand for FM services is very high. Shortages can interrupt operations, leading to delay in projects and cost overruns
  • Workers may have to handle hazardous substances/materials. Non-compliance to the safety standards and working without using the personal protective equipment can result in accidents and affect operations. Workers are also required to work at heights while carrying out cleaning activities. Non-adoption of precautionary measures by workers can lead to fatalities or severe injuries, thus negatively impacting the reputation of buyers
  • 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

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Who should read this report

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

     

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

Refined Fats Category Insights: What is inside

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