Strapping Machines | Intelligence Report

Strategic Sourcing Guide to Strapping Machines Procurement

Overview

Business practices within Strapping Machines market are heavily influenced by changing trends across the category as well as within the broader Warehousing and Storage market. Service providers have begun to use advanced technologies and tools such as loT, predictive analysis and big data for optimal asset utilization, geofencing, warehouse management, and smart inventory management. The efficiencies gained by using new technology and improvement in customer service capabilities are significant. More and more suppliers are moving towards adopting these technologies to realize significant efficiency gains in the longer run, however, it may also increase their OPEX in the short run.

Sustainability has emerged as a pivotal theme for procurement decisions related to supply chain. Companies are expecting their suppliers to internalize globally accepted sustainability practices and demonstrate a solid history of putting in practice similar principles. It is worth noting that practices of sustainability are not limited to only environmental impact but has taken a greater meaning of practices that can reduce the overall cost of operations in the long term.

Cyber security has emerged as a top priority within logistics and supply chain ecosystems. New accountability standards are emerging for the way suppliers and buyers collaborate and protect sensitive information and assets.

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

Strapping Machines Procurement Best Practices

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

For example, Buyers must track suppliers' quality management systems to ensure that the products are stored in a hygienic environment and have almost zero probability of occurrence of damages. This is particularly critical for buyers in industries such as food and beverages and pharmaceutical.

Buyers prefer to engage with service providers that offer robust technological systems and leverage Internet-based systems to reduce cost and simplify visibility across the supply chain. Buyers should also assess the integration capabilities of software platforms offered by service providers to ensure that there are no additional costs incurred for software implementation.

Buyers should enter in long-term partnerships and collaborative relationships with service providers to benefit from economies of scale and reduced cost. Long-term contracts are established to avoid renewal costs and avoid time spent on renegotiation.

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Risks in Strapping Machines procurement

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

IT risks related to security breach and malfunction and disruption in the operation of the systems pose significant risks in the category market. Also, there is an increasing competition from startups and technology providers that implement emerging technologies such as big data analytics and IoT that offer platform-based and dedicated delivery solutions pose significant risks to the suppliers
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 volatility in fuel prices and capacity constraints affect the cost structures of suppliers. Fuel costs account for the largest part of the operational costs for the suppliers. Therefore, an increase in the fuel costs significantly increases the suppliers' operating expenditure

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Who should read this report

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

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

Strapping Machines Category Insights: What is inside

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

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Category Research Framework

SpendEdge presents a detailed picture of Strapping Machines 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.