Surgical Collars Market Procurement Intelligence Report

The market for Medical and Surgical Consumables and its sub-segments such as Surgical Collars are at an interesting intersection. Buyers that have multiple locations under management are increasingly opting for a single supplier who can deliver the preferred solutions in a consistent manner across locations. Often suppliers with a physical presence across key geographies are preferred in such cases.

New locations and vendors are emerging as cost effective suppliers of Surgical Collars, offering an opportunity to widen the supplier base and gain further negotiation leverage with incumbent suppliers.

Over the years, regional boundaries have blurred as suppliers foray into different continents, increase their capital expenditure and spend on cross-border M&A initiatives. The deployment of geographic diversification strategies through such consolidation initiatives has enabled the large suppliers to improve their performance and expand their business footprint.

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

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 Surgical Collars procurement insights and hand picks best practices that can work for category managers delving in this market.

For example, Buyers should look to minimize the contract-related risks where unfavorable credit terms may severly penalize buyers for delayed payments or entitle the supplier to demand pre-payments or shorten the payment terms. Although these clauses are not very common in the category, suppliers may still insist on them, especially in situations where buyers' liquidity or financial health is in question.

Category buyers should invite bids from all potential service providers that have the ability to meet the overall requirements. Bids must be evaluated based on pre-defined parameters such as financial strength, reputation, offerings, geographical presence, and track record. Buyers can use standard scorecards to evaluate service providers and provide necessary feedback to rationalize the given scores. This helps in the effective documentation of decision-making processes.

Investing in benchmarking studies help category managers enhance their knowledge about market pricing or billing rates based on job roles and functions. This allows them to not only save costs but also negotiate with suppliers. For example, while negotiating on rates of bundled services, buyers can save significantly on a single service by cross verifying the rates quoted by suppliers against industry benchmarks.

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