Sirens Market Procurement Intelligence Report

The market for Emergency and Rescue Equipment and Supplies and its sub-segments such as Sirens are at an interesting intersection. Globalization has opened new markets for suppliers. Sirens market was historically a localized industry, but many geographies have seen introduction of new, foreign players who brought with them a new set of business practices and value propositions. Influx of this new competition has forced the traditional local suppliers to innovate and enhance their offerings to match the new benchmarks.

As companies expand globally, they prefer suppliers who can assist them across multiple locations and have excellent understanding of local regulations and unique practices.

Increasing regulatory impetus on workplace safety, building safety management and employee safe being has required organizations to place additional focus on procurement of solutions that ensure adequate response in the time of an adverse event. Emerging markets, where regulations have been traditionally lax, are also catching up to the standards prevalent in matured geographies. As a result, Sirens category has seen a healthy growth in spend.

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

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

For example, Senior management of the organization must ensure that there is a dedicated emergency management team to collaborate with the supplier and be aware about the changing developments.

Buyers should engage with suppliers that have the capacity to provide practice simulations and demonstrations. Effective simulations and dry-runs, involving all standard operating procedures must take place at least once or twice a year to take an account of the possible impact on the business. It is important to understand and address potential weaknesses in the solution before any real crisis starts taking shape.

Buyers should engage with service providers that can provide value-added services such as forecasting services with respect to prediction of emergency and its management.

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