A buying guide for Towing Equipment category – enriched with research on Towing Equipment procurement spend patterns, Towing Equipment pricing intelligence, market dynamics and top suppliers of Towing Equipment.
This report on global Towing Equipment category is part of a larger series of reports on global Purchase market. The scope of Purchase spans multiple categories and is typically identified as a procurement category that includes all spend related to the purchase of non - military fleet comprising of vehicles, vessels, aircrafts or other such transportation means. The spend may include bulk purchase or purchase of limited number of vehicles.
Several macro changes in the dynamics of overall Purchase as well as Towing Equipment procurement trends are poised to change the business practices and procurement thumb rules. Telematics has found excellent adoption rates the world over and its adoption is only expected to grow more. This is creating challenges for category managers in aligning the specifications to the use of preferred telematics solutions as well as extending procurement activities to this new but still less understood category of products and services. Traditionally procurement functions had a greater say in deciding the specifics of orders. However, recent trends indicate that all departments of a company, even drivers are included in the decision making and feedback loop. This creates opportunities to benefit for cross learnings but also increases the co-ordination and conflict management tasks of category managers. Regulatory changes are taking place more frequently and, in some cases, randomly. It is getting difficult to align procurement with all the new regulations, especially when category managers are responsible for multiple regions with different regulations. Category managers need to take note of the potential of these developments and reassess the changes required in their procurement 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 Towing Equipment category procurement. The report offers a succinct analysis of Towing Equipment procurement best practices. For example, Buyers should evaluate service providers ability to innovate and reduce carbon emissions from traditional fuel-based vehicles, without compromising on cost and quality aspects. Buyers should adopt strategic contract management activities as it helps them to avoid additional costs. Additional mileage allocation, interest rate, residual value and terms related to capitalized cost reduction are some of the terms that can be included by the buyers in the contract terms. Vehicle replacement cycles is a mechanism used to calculate maintenance and depreciation-related costs associated with a vehicle. Service providers perform such calculations on behalf of buyers. Vehicle replacement cycles enable end-users to follow safety measures and minimize operating costs. These are calculated after a certain mileage or specific years of use. Furthermore, buyers should engage with service providers that offer analysis with respect to fuel consumed as well as provide maintenance and repair services.
Activate your free account to gain easy access to cutting edge research and insights on consumers, emerging price trends, global and regional suppliers.
Towing Equipment procurement managers also need to proactively identify and mitigate potential risks that can arise in the supply chain or contracts for Towing Equipment procurement. Some examples include:
For detailed insights and complete access to our report library, activate your free account!
The report is intended to serve as a one-stop reference guide for Towing Equipment 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 “Towing Equipment: Procurement Report 101” as well as for category experts actively tracking the global Towing Equipment procurement market.
You may have just initiated your research to design a winning Towing Equipment procurement strategy, or you may be a category expert looking for strategic insights and updated data.Either ways, the report has your requirements covered.
Get lifetime free access to the richest, most comprehensive collection of procurement intelligence reports and stay up to date on the latest developments and best practices in procurement.
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 Towing Equipment 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:
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!
The Towing Equipment 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 Towing Equipment procurement spend and pricing trends. The report further delves deep into the aspects of cost structure, total cost of ownership and supplier margins for Towing Equipment. 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 Towing Equipment 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 Towing Equipment 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 Towing Equipment 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.