Research & Development Consulting Market Procurement Intelligence Report

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

Scope of the report

This report on global Research & Development Consulting category is part of a larger series of reports on global Consultancy market. The scope of Consultancy spans multiple categories and is typically identified as a procurement category that includes all spend related to advisory and consulting services with respect to specific aspects or functions of the client with a stated objective and end result.

KEY PROCUREMENT INSIGHTS COVERED

Strategic Sourcing Guide to Research & Development Consulting Procurement

Overview

Several macro changes in the dynamics of overall Consultancy as well as Research & Development Consulting procurement trends are poised to change the business practices and procurement thumb rules. The market is rapidly showing signs of a great divide - at one extreme is a low-cost market with almost commoditized services and at the other end is the market for high cost specialized services. Research & Development Consulting vendors are adopting starkly different business models and cost structures in an effort to address both the markets.

Certain non-compliance scandals in the broader professional services industry has pushed both clients and suppliers to put in proper processes and protocols that reduce non-compliance, protect data and information and demonstrate ethical business practices.

Most clients now prefer splitting a single project among different vendors as it enables them to allocate parts of a project to specialized professional firms and keep the supplier base wide enough. Some clients adopt this strategy to understand the capability and performance of individual supplier and then pick one or a smaller set of suppliers for future contract opportunities.

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

Research & Development Consulting Procurement Best Practices

The report discusses in detail the best practices that have served well the category managers responsible for Research & Development Consulting procurement.

For example, Category managers must ensure that they have clearly identified and listed down potential negotiation levers to maximize the value of their category spend before entering into contract-related discussions with service providers. Common negotiation levers to maximize value include deadlines, terms related to payments, (including fees, expenses, and payment timelines) and assistance required from the buyer's organization.

Buyers should engage with service providers that can provide integrated services, including consulting, implementation, and support services.

Adequate RFP response time should be built in for prospective suppliers to enable them understand the scope and performance requirements.


Activate your free account to gain easy access to cutting edge research and insights on consumers, emerging price trends, global and regional suppliers.

Risks in Research & Development Consulting procurement

Research & Development Consulting procurement managers also need to proactively identify and mitigate potential risks that can arise in the supply chain or contracts for Research & Development Consulting 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 Research & Development Consulting
  • 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
  • The services obtained may not live up to buyers' expectations with respect to possession of skillsets. This will lead to reduction in productivity of buyers

For detailed insights and complete access to our report library, activate your free account!

Who should read 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!!

    You may have just initiated your research to design a winning Research & Development Consulting procurement strategy, or you may be a category expert looking for strategic insights and updated data.Either ways, the report has your requirements covered.

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

SpendEdge Insights Subscription

Get lifetime free access to the richest, most comprehensive collection of procurement intelligence reports and stay up to date on the latest developments and best practices in procurement.


Key questions on Research & Development Consulting procurement answered by this report

    The Research & Development Consulting 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 Research & Development Consulting market?
    • What is the correct price to pay for Research & Development Consulting? What are the key trends and factors that influence current and future pricing?
    • Which selection criteria are the most important for Research & Development Consulting Suppliers Market?
    • Who are the top Research & Development Consulting suppliers? What are their cost structures?
    • What are supplier margins in Research & Development Consulting market?
    • Which negotiation levers can reduce Research & Development Consulting procurement cost ?
    • What are the best practices for Research & Development Consulting 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!

Research & Development Consulting Category Insights: What is inside

  • A comprehensive drill down on category sourcing execution: Data, insights, advisory

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

  • Unrivalled breadth of category analysis: at your fingertips

    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
  • A lucid, easy to read format: Enabling fast decisions

    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 Research & Development Consulting 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

Related reports

Global Workplace Safety Consulting Services Market - Procurement Intelligence Report

Global Lab Consulting Market - Procurement Intelligence Report

Global Body Guards Market - Procurement Intelligence Report

Global Safety Consulting Market - Procurement Intelligence Report

Global Data Mining Consulting Services Market - Procurement Intelligence Report

Global Process Optimization Market - Procurement Intelligence Report

Global Real Estate Asset Management Market - Procurement Intelligence Report

Global Non-Executive And C-Suite Consulting Services Market - Procurement Intelligence Report

Global Corporate Projection Strategic Development and Support Market - Procurement Intelligence Report

Read More

Access this report and our entire procurement platform for free | Plans starting from USD 250 Try For Free