Salt Market Procurement Intelligence Report

The report provides a comprehensive coverage on Salt category spend growth and regional spend segmentation insights, Salt price trends and Salt supply market analysis.

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Our category grouping process defines that the overall Food and Beverages market 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. Dynamics of the global Salt market play out within this wider arena of Food and Beverages market. Therefore, our coverage of the Salt category also operates within this broader boundary of the overall Food and Beverages market.

Key questions on L4 procurement answered by this report

Strategic Sourcing Guide to Salt Procurement

Overview

Business practices within Salt market are heavily influenced by changing trends across the category as well as within the broader Food and Beverages market. 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 Salt without affecting the performance.

Outsourcing of Salt now represents a significant part of the global spend on this category, driven by value derived and a growing number of vendors who keep innovating with new services and value propositions.

As market presence of companies become global, there is a growing preference towards service providers who can provide services seamlessly across the globe and have excellent understanding of local regulations and culture.

As a result, category managers need to closely monitor the Salt procurement trends and identify changes required in their procurement environment for the category.

Salt Procurement Best Practices

The report discusses in detail the best practices that have served well the category managers responsible for Salt procurement.

For example, 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.

Buyers must ensure the participation and collaboration of all related cross-functional teams (procurement, electrical, engineering, and housekeeping) in category management and planning activities. This is crucial, as these teams will be the primary end-users of the services offered by suppliers, and this step will ensure consistency in services.

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.


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Risks in Salt procurement

Salt procurement managers also need to proactively identify and mitigate potential risks that can arise in the supply chain or contracts for Salt 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
  • Irregular inspections of facilities and installations can lead to the failure of electrical and maintenance-related equipment. This leads to downtime and interrupts the day-to-day operations of the buyers, thereby resulting in huge losses
  • 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 Salt 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 “Salt: Procurement Report 101” as well as for category experts actively tracking the global Salt procurement market.

     

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

Salt Category Insights: What is inside

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