A buying guide for Sport Events category – enriched with research on Sport Events procurement spend patterns, Sport Events pricing intelligence, market dynamics and top suppliers of Sport Events.
GET FREE SAMPLESport Events is an essential part of the Promotion category which includes all spend on procurement of promotional goods and services and may also include spend related to outdoor promotion activities such as transit advertising and retail advertising.
A changing ecosystem within the Promotion market also affects the procurement process, cost dynamics and supplier attractiveness for the buyers of Sport Events. Price rise in certain essential assets and supplies required to deliver Sport Events is making a significant addition to the supplier's overall expenditure. This could have an inflationary impact on buyer's procurement expenditure in the Sport Events market.Rising cost of workforce possessing core skill sets is expected to offset some of the cost savings that suppliers are expecting through implementation of lean and technology-based operations.In recent years, the market has witnessed a significant number of strategic collaborations, mergers, and acquisitions. Such developments have enabled the suppliers to expand their portfolio of offerings, geographic presence, and value chain. Moreover, suppliers have also gained access to new technologies and resources.
Sometimes, procurement functions are unable to timely alter their practices while responding to market conditions. Industry experts acknowledge that periodically reviewing procurement best practices and adopting learnings from across procurement categories can help procurement teams respond to market needs in a more agile way. This report combines our experience of other categories with Sport Events procurement insights and hand picks best practices that can work for category managers delving in this market. For example, It is customary for service provider to charge buyers on a project basis. The project costs are often based on payroll costs incurred by service providers on the various levels of personnel involved in the project. In a bid to derive higher profits, service providers may allocate more senior staff than required. Therefore, buyers must scrutinize the staffing needs of the project and limit the presence of senior staff to not more than 30% of the total allocated staff. This, in turn, providers buyers' advantages such as enhanced cost savings, streamlined execution, and faster delivery time. Buyers should ensure that service providers use digital asset management tools for storing and retrieval of digital assets such as photographs, video graphs, music, animation content. Buyers can use these tools to increase their brands consistency and optimize their workflow. While engaging with a service provider, buyers should procure creative services from a tier 1 creative agency and outsource the production work to a local agency to reduce billing rates.
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Sport Events procurement managers also need to proactively identify and mitigate potential risks that can arise in the supply chain or contracts for Sport Events procurement. Some examples include:
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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 Sport Events 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 Sport Events 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 “Sport Events: Procurement Report 101” as well as for category experts actively tracking the global Sport Events procurement market.
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The Sport Events 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:
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The Sport Events 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.
A key highlight of this report is the in-depth outlook created on Sport Events procurement spend and pricing trends. The report further delves deep into the aspects of cost structure, total cost of ownership and supplier margins for Sport Events. A dedicated section to supplier profiles and evaluation helps decision makers cast a wider procurement net and identify gaps in existing relationships.
Along with specific category and supplier intelligence, the publication also includes curated insights on Sport Events 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.
Additionally, the report also advises on the best practices and strategies to manage the Sport Events 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.
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?”
SpendEdge presents a detailed picture of Sport Events 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.
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