Tag: procurement market

IR30

Factors Hindering the Growth of the Global Rapeseed Oil Market

In 2015, the Telegraph UK came up with an article on rapeseed oil headlined, “Goodbye, olive oil: why we’ve all fallen in love with rapeseed.” Even today, the headline perfectly outlines the growing popularity of rapeseed oil as a healthier home-grown option. Consequently, it is also the third-largest source of vegetable oil in the world after palm oil and soybean oil. The oil is extracted from the seeds of the Brassicaceae flower, which is a common crop in Europe. Rapeseed oil is commonly used in culinary applications such as sautéing, frying, and baking. It is preferred over other oils due to its higher smoke point compared with other vegetable oils. This oil has higher essential fatty acid contents and has the lowest saturated fat levels compared to any other oil. Owing to such health benefits, the demand for rapeseed oil is on the rise in emerging economies such as China, India, and Brazil. The procurement market intelligence report from SpendEdge estimates the market to grow at a CAGR of 4.64%. Although the market faces a healthy growth prospect, suppliers in this market have to overcome a few challenges to take advantage of the market’s growth.

Request Free SampleChallenges in the Rapeseed Oil Market

Threat from disease and crop infection

The rapeseed plant can be affected by series of infection which affects various parts of the plant across its lifecycle. For instance, fungal diseases such as Sclerotinia stem rot is caused by the fungus Sclerotinia Sclerotiorum, and the fungus Leptosphaeria Maculan causes blackleg. Such infections are further complicated by rainfall, as it drives up the infection rates. For instance, in Australia, a prolonged period of rainfall resulted in yield losses of about 25% in 2016. A severe reduction in the crushing volume increases the prices for rapeseed oil. To tackle such problems, regulatory bodies across regions have created guidelines for cultivators to manage aspects such as field selection, use of fertilizers, weed control, and harvest cycles for rapeseed.

Wide range of available substitute

The vegetable oil market has a wide range of substitute products available. Be it in the field of food applications or non-food applications, the number of oils available is enormous. For instance, people across the world use either sunflower, safflower, coconut, olive, soybean, or peanut oil for culinary applications. Also, rapeseed oil can be substituted by soybean, kernel, or palm oil in non-food applications. Dietary revolution is a major factor in determining the preference for a particular kind of oil. Over the last few years, people are increasingly using extra virgin olive oil due to its light and fruity flavor and other health benefits. According to industry estimates, the consumption of olive oil increased by 250% and 1,400% in the US and Japan, respectively, in the last 25 years.

Adulteration and contamination

Suppliers in the vegetable oil market are adulterating edible oils with inexpensive oils such as bran and cottonseed oil to save costs. Such cases are prominent in emerging economies where the supply chains are not structured. Such adulteration and contamination can have serious health issues as well. For instance, in the spring of 1981, adulterated rapeseed oil created toxic syndrome that affected about 25,000 people. Also, the mixture of mustard oil with inexpensive argemone oil causes dropsy disease, which causes oxidative stress and the death of RBCs. It is possible to use brassicasterol to detect adulteration of rapeseed oil.

Health and safety issues

Although rapeseed oil is considered to be more healthier than other oils, its high content of omega-3 fatty acid can make it rancid and foul when exposed to oxygen and high temperatures. Additionally, some reports link consumption of canola oil with kidney and liver diseases, hypertension and stroke, and retarded growth among infants. The availability of such reports could affect the sales and consumption of canola oil.

Read more about the challenges in the rapeseed oil market along with supply market insights, procurement best practices, sourcing models, and key suppliers in SpendEdge’s upcoming report on the global rapeseed oil market.

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IR32

Enhancing Skilled-based Training by Implementing Best Practices in Corporate Training

The recent procurement market intelligence study by SpendEdge on corporate training helps service providers to understand the demand-supply shifts, procurement best practices, and pricing model for the corporate training industry.

Trends in corporate services market

Corporate training is primarily designed to meet the business goals by enhancing the skill set of employees, increasing their productivity, and reducing operational costs. An effective training module identifies training needs, organizational objectives of training, designs action plans for training, implements the action plan, and evaluates the overall process. The service providers in the market are focusing on the development of innovative tools and techniques to attract more consumers and provide cost-effective solutions that can be easily adopted. Multi-location training needs are fueling the need for corporate training services in the market. The procurement market intelligence study by SpendEdge provides an in-depth analysis of the category essentials including supplier evaluation criteria, category risk analysis, service level agreement terms, and category sourcing evolution. The researchers also identify service providers that can manage training programs on a global scale and maintain consistency in quality across geographies and verticals.

The emergence of competency-based training is reducing the skill gap that is affecting operations across several industries. This new training method helps employees to demonstrate their skills, articulate their thoughts, and increase participation. The modules are designed to match the requirement for the employees with interactive assessments and improve the performance of the workforce. Competency-based training helps increase the productivity and monitors progress on a real-time basis to improve efficiency.

Blended-learning methods

Blended-learning mixes the advantages of face-to-face teaching and e-learning, helping the companies design effective models that suit the business goals. These modules help to improve the learning performance, allows increased flexibility, and enables anytime anywhere learning. It tackles the issue of geographical barriers and caters to different learning styles of the employees. The method implements visual, auditory, and written components across many resources to engage the trainees and improve their performance.

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Innovative training methods

The implementation of virtual reality (VR), augmented reality (AR), and mobile devices are helping the organization to save resources and cost on materials. AR and VR technologies enable the workforce to touch, feel, and experience the real scenario in a controlled environment, helping in the development of required skill sets. Mobile learning helps employees learn at their own pace from anywhere in the world. Companies are leveraging technology to address their need as well as the employees need at a substantially lower cost.

Solutions offered by SpendEdge to businesses

The team of procurement specialists at SpendEdge delivers a market intelligence study that helps service providers understand the short-term and long-term trends in the corporate training industry. Some of the solutions include:

  • Meet specific requirements of the client especially in the procurement service and category management domain
  • Offer information on major regulatory framework, key current technological innovations, and the pricing engagement models
  • Evaluate the key suppliers in the specific category domain and provide supplier evaluation criteria and category negotiation strategies
  • Provide strategic insights on the supplier operational and functional capabilities
  • Assess the key competitors’ functional and operational capabilities in terms of training and development

Read our complete case study titled – Procurement Market Intelligence Assessment Helps a Corporate Training Provider Understand the Procurement Best Practices

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Procurement Market Intelligence Study – Audit Trails and Log Management Made Easier Using SIEM Tools

The latest procurement market intelligence study by SpendEdge on information systems helps companies to identify the procurement best practices and understand the overall supply-demand scenario.

Constant cyber threats mandates information and data security

Insider threats, cyber-attacks, and an increase in the number of hackers is boosting the requirement for information and data security in the market. The recent WannaCry Ransomware attack paralyzed information systems (IS) across several industries. Thus, implementing an information security program will help to protect the company’s assets, framing information security guidelines, managing risks, information classification, and security training. The rapidly changing types of security threats are encouraging companies to maintain confidentiality, integrity, and availability of data to design and build updated security structures. SpendEdge offers procurement market intelligence study that provides information on sourcing practices, market dynamics, and pricing. The study on IS security industry analyzes data for supplier identification and capability assessment of the major suppliers in the IS security industry.

Many organizations in the market are implementing patch management strategies to monitor and update the IS security regularly. Patchworking is a regular maintenance practice, which ensures that all security related issues are fixed at a minuscule level and reduce chances of critical damage from unwarranted cyber-attack. Additionally, patch management will allow the organizations to stay in control of the IS infrastructure and deploy security measures quicker on the advent of unauthorized access or virus attack.

Adopting wireless networks

Wireless networks are helping companies save the cost of building an information system framework and helps increase connectivity in the workforce. By using strong encryption codes and regular monitoring of systems, organizations are protecting this network from cyber-attacks and security threats. Wireless networking allows remote monitoring and diagnostics of IS infrastructure, enabling flexibility of network management. Additionally, wireless network systems promote easy access and efficient management of information systems.

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Audit trails and log management

With the implementation of security information and event management (SIEM) tools, log management and reviewing audit trails are becoming easier. Audit trails record all information on the management, changes, integrity, and users accessing the information. System administrators use audit trails to review the workflow and identify security problems regularly. Log management is essential for monitoring and for alerting anomalies in the systems.

Solutions SpendEdge offer to businesses

The team of procurement experts at SpendEdge provide market intelligence study that addresses the requirements explicit to the needs of different companies and offers strategic solutions to help the decision-making process. The solutions offered includes:

  • Identify cost saving opportunities through assessment of current best practices and improvement areas in the specific category
  • Offer information on the best procurement and sourcing practices, and successful application of procurement market intelligence strategy for the fundamental areas such as supplier identification
  • Provide detailed insights on the risk, compliance, and regulatory environment and strategize based on the best benchmarking standards in the industry
  • Help understand the best-in-class industry benchmarks and assessment of information system security market
  • Identify the key suppliers in the IS security industry and evaluate them based on their operational and functional capabilities

Read our complete case study titled – A Procurement Market Intelligence Engagement Helps a Global Information Provider Identify Procurement Best Practices

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IR18

Analyzing the Aftermarket Services in the Chemical Procurement Market

The latest procurement market intelligence study by SpendEdge on the aftermarket services helps a leading manufacturer of fertilizers and chemicals products assess the aftermarket services for rotating equipment and supplier landscape.

Aftermarket services – market at a glance

Many manufacturers are utilizing aftermarket services to cater to the changing client requirements and develop strong service capability. With increasing competition in the global market, strategic changes in the value chain systems, and the introduction of new product lines aftermarket services will ensure seamless service deliveries and outline effective marketing strategies. The procurement market intelligence engagement offered by SpendEdge includes insights on the category essentials, supplier landscape, supply market, and the latest cost drivers and its impact levels. The procurement market study helps a leading chemical manufacturer assess the aftermarket services for rotating equipment, especially for compressors, and helps category managers develop effective procuring strategies. Identifying the leading aftermarket suppliers and tracking latest developments in the market will help companies gain valuable information on growth opportunities.

Companies are adopting a proactive and customer-centric business models to expand their consumer base and increase their profitability. Keeping the end-users happy will benefit the branding strategy of the organization and will improve the existing clientele. Expanding delivery channels, value-added service requests, use of smartphones and digital technology, and faster services are some of the methods companies are relying on to build efficient service delivery systems.

Digitalization in the chemical industry

Chemical manufacturers are leveraging technological innovations to gain a competitive advantage in the global market. Digitalization improves the productivity, efficacy, operational capabilities, and manufacturing processes in the chemical industry. Suppliers of the aftermarket services are offering innovative technologies like sensors, advanced diagnostic devices, and 3D printing machines that are revolutionizing the industry. Additionally, the introduction of artificial intelligence (AI) will improve the performance metrics of various suppliers in the global market.

Request Free ProposalRegulatory compliance 

The establishment of stringent laws and regulations is raising the requirement of special services that tackle the complexities of the new laws and ensure compliance. All aspects of manufacturing, labeling, handling, storage, and shipping have legal implications, and it is important for companies to abide by the laws to sustain in the market. Suppliers offer cloud-based solutions that update regulations on a real-time basis and helps companies access solutions faster.

What solutions SpendEdge offer to businesses

The team of procurement experts at SpendEdge provide a market intelligence study that helps clients understand how the market would grow in the short and long-term, validate the market size, and develop opportunity model for the industry. Some solutions offered are listed below:

  • Offer qualitative and quantitative assessments followed by data analysis and category-specific insights development
  • Help the client understand the aftermarket services for rotating equipment
  • Develop effective strategies for market expansion by estimating the current market size, market segments, latest market trends, drivers, and challenges faced by major category managers
  • Analyze the global market landscape by evaluating the key suppliers, their operational capabilities, recent mergers and acquisitions, service footprint or capabilities, and the key geographies
  • Provide the pricing and costing overview for aftermarket services, including an overview of pricing models and benefits comparison

Read our complete case study titled – Procurement Market Intelligence Study on Aftermarket Services

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