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Components and Spare Market Industry Research Report Portfolio

LONDON: SpendEdge, a global procurement market intelligence firm, has announced the release of their report portfolio on global components and spare market.

Considered indispensable for a range of end-user industries, the components and spare market accommodates the global consumer’s penchant towards newer, better, and cost-effective spare parts. According to SpendEdge’s procurement report on the components and spare market, innovative strides being made on this field is further contributing to the spiraling growth of the components and spare market.

It is the norm of the industry that more the growth, more are the complexities involved in venturing into the market. On that note, the components and spare market witnesses several complexities that are the result of business outlook changes and other socio-economic factors. Such complexities are inhibiting investors from accruing the returns that they expect while they decide on capitalizing on this thriving component and spare market. However, we at SpendEdge, believe that no matter what the size and severity of such complexities, it should not limit one’s business dreams. We believe that with the right procurement insights, the challenges can be converted and leveraged as the drivers of success. (more…)

Top Elevator Companies and Elevator Cost Overview 2018

Taking the stairs is healthy, or at least that’s what they say, but what if you have to go up by 50 floors? – Would you still take the stairs or start looking for easier ways to scale your personal Mount Everest? Studies indicate that walking is the healthier option of the two but in a world that is rapidly becoming urbanized, the demand for elevators and escalators will keep increasing. In their latest procurement intelligence report on the elevator market, the experts at SpendEdge have predicted sectors such as mining, logistics and warehousing, and petrochemicals to witness a high demand for various types of elevators, owing to their focus on reducing their operating costs and improving productivity. In addition, the analysts feel that the booming e-commerce industry will be one of the key factors driving elevator cost and category spend. The report also identifies the top elevator companies and offers a comprehensive elevator market overview for buyers looking to develop a functional procurement strategy. (more…)

3 Key Guarana Benefits and Top Supplier Overview

The Brazilian plant guarana is a native of the Amazon basin. The guarana fruit is generally the size of a coffee bean. The tribes in the Amazon basin have been using guarana seeds since centuries as it contains therapeutic properties. It has an abundance of stimulants like theophylline, caffeine, and theobromine. Today, approximately 70% of the guarana produced is used in energy and soft drinks by companies in the beverage industry, while approximately 30% is turned to powder for other uses. (Source: SpendEdge procurement report on Guarana and Guarana Benefits

guarana market

Top Three Guarana Benefits


Procurement Best Practices for the IT Consulting Services Supply Market

The global IT consulting services market has reached maturity, but the trend of outsourcing to low-cost countries continues.

Every time you research online to see how much the market for IT consulting services will grow, you’ll see a common pattern, which is the market is growing, but slowly.” Now you wonder why this market is witnessing slow growth despite the rising adoption of IT services. Well, fret not, we at SpendEdge don’t believe in giving ambiguous answers. Our procurement market intelligence reports offer businesses and stakeholders the scope to understand the supply market and the key factors affecting the sourcing and procurement of IT consulting services. According to our experts, the demand for IT consulting services has matured, and the market is fragmented due to the presence of independent consultants and small firms who provide niche services such as data analytics and IT advisory. (Source: Global IT Consulting Services Category – Procurement Market Intelligence Report)

SpendEdge Insights TrialIn addition, the recent rise in M&As across industries, such as chemical and oil and gas, will boost the demand for IT consulting services to handle activities pertaining to accounting, resource planning, budgeting, and data warehousing. With the preference for IoT rising ever so steadily among end-users, the spend momentum will increase and buyers will not be looking at conventional large service providers to avail effective IT consulting services. The Americas and Europe are expected to be the front-runners in terms of demand but regions like APAC are also anticipated to witness an increase in the demand for such services due to the extensive outsourcing of such services. Now that we’ve established a base for you to understand the growth potential of the IT consulting services market, let’s look at some of the procurement best practices that will help you save costs in your sourcing and procurement activities.

Top three procurement best practices for IT consulting services

Strategy 1: Streamlining execution

Due to the critical nature of their operations, buyers of such services have to focus on streamlining execution and monitoring services in a structured manner. One of the procurement best practices for the buyers is to establish a strategic plan in collaboration with service providers. This would help both parties to create a blueprint of the solution and allow category managers to identify cost-saving opportunities.

Strategy 2: Performance monitoring and benchmarking

To increase supplier accountability and identify potential performance bottlenecks, the buyers of IT consulting services should design strong KPIs for the constant monitoring and evaluation of service providers’ performance. Since the data gathered from establishing effective KPIs would help buyers to gain a better bargaining power during the contract renegotiation phase, it is one of the key procurement best practices to be followed if you are looking to procure IT consulting services at effective rates.

Strategy 3: Emphasize on strategic contract management activities

One of the best procurement best practices to source IT consulting services at effective rates is to define phases and processes that service providers should follow and clarify responsibilities that need to be fulfilled to gain maximum value from their engagements. The critical nature of the category makes it essential for the procurement department to participate in planning actively.

SpendEdge’s procurement report offers strategic insights on the supply market for IT consulting services and helps procurement professionals to gain information on the sustainability and procurement best practices, pricing models, supply market, and key sourcing and procurement trends affecting the global IT consulting services market.

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