Silicone Rubber Market Procurement Intelligence Report

Access curated Silicone Rubber procurement intelligence and solve all your questions on Silicone Rubber procurement outlook, cost saving opportunities in Silicone Rubber procurement and potential Silicone Rubber partners.

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This report on global Silicone Rubber category is part of a larger series of reports on global Engineering Materials market. The scope of Engineering Materials spans multiple categories and is typically identified as a procurement category that includes all spend related to the provision of essential industrial and engineering raw materials which are further processed or used to produce goods, articles or structures.

Key questions on L4 procurement answered by this report

Strategic Sourcing Guide to Silicone Rubber Procurement

Overview

Several macro changes in the dynamics of overall Engineering Materials as well as Silicone Rubber procurement trends are poised to change the business practices and procurement thumb rules. Suppliers of Silicone Rubber are moving up the value chain - both organically as well as through M&As. Their portfolios are increasingly being diversified with the objective of offering integrated solutions that go beyond just Silicone Rubber. Even buyers are engaging vendors who can act as a one-stop solution provider across their geographic footprint. Such strategic engagements can help buyers with savings associated with economies of scale and management of a much smaller supplier base.

Customers are expecting service and experience levels which are at par with what ecommerce and consumer sectors of today offer. Moreover, competition keeps intensifying and demand and supply dynamics keep shifting.

Suppliers are under an enhanced pressure to offer greater quality, options that suit unique requirements and overall experience of the customer stakeholders involved.

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

Silicone Rubber 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 Silicone Rubber category procurement. The report offers a succinct analysis of Silicone Rubber procurement best practices.

For example, Strong R&D focus is the sign of a supplier committed to enhancing the quality and cost proposition of its solutions. Buyers should collaborate with such suppliers for development of low-cost but highly efficiency products that can bring their OPEX down.

Buyers should assess the level of adoption of the latest technologies by suppliers to assess cost-saving opportunities and quality that can be provided by the latter. For instance, the adoption of technologies such as cloud computing will enable suppliers to reduce their internal computing hardware requirements for operations such as CAD and CAM. This can, in turn, enable them to reduce their operating costs, thereby suppliers can offer products at lower rates to buyers.

Competitive bidding as a cost optimization tool is extremely potent but should be carefully deployed only when there is no significant differentiation among Silicone Rubber suppliers.


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Risks in Silicone Rubber procurement

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


  • 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
  • With high adoption of lean manufacturing, the smallest of changes in the supply chain activities lead to huge losses. For instance, cargo theft, flight delays, and quality control issues leads to significant losses to both the suppliers and buyers in the category
  • 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 Silicone Rubber 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 “Silicone Rubber: Procurement Report 101” as well as for category experts actively tracking the global Silicone Rubber procurement market.

     

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

Silicone Rubber Category Insights: What is inside

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