LONDON--(BUSINESS WIRE)--According to the latest procurement intelligence report from Technavio, the global moving services market is expected to grow at a CAGR of 3.5% over the next five years due to growing demand for global relocation services and adoption of extensive mobility programs by corporates.
The research report titled ‘Global Moving Services Market: Procurement Market Intelligence Report 2017-2021’ provides an in-depth analysis of category spend, best procurement practices and cost saving opportunities, aimed at helping organizations achieve superior business performance. The report also provides insights on pricing, supplier positioning, and top companies, enabling sourcing professionals to improve their competitive advantage through procurement excellence.
“During the forecast period, the moving services market will be driven by several organizations such as KPMG and Goldman Sachs which are adopting the GIC model,” says lead Technavio procurement specialist Angad Singh for category spend intelligence. “In addition, increased outsourcing of moving services, owing to high maturity of suppliers in handling movement of complex or fragile materials across geographies, will also drive the market,” adds Angad.
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Cost saving opportunities in the moving services market
The adoption of various cost-optimization levers helps buyers of moving services realize direct cost savings and enhance category management and value benefits (including reduced procurement complexities).
Technavio procurement experts have segmented the cost saving opportunities in the moving services market into the following value-enhancement opportunities:
- Adoption of technology
- Supplier Competition
- Adoption of negotiation strategies
- Optimization of procurement practices
- Bundling of services
Adoption of technology saving aspects
Use of technologies such as GPS tracking, adoption of SaaS platforms, and use of image recognition software to track, process documentation, and evaluate costs can help to minimize moving costs.
Buyers prefer suppliers that can offer swift and expedited moving services, ensuring timely and intact delivery of buyers' consignments. This reduces downtime of buyers' operations and increases productivity.
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Optimization of negotiation strategies saving aspects
Buyers can negotiate costs if they have high-volume of shifting in terms of number of goods to be shifted or number of employee's goods to be shifted. If goods need temporary warehousing during transit buyers can trigger negotiation. A systematic transition from a local sourcing strategy to a regional strategy may also lead to better negotiation opportunities.
Buyers prefer suppliers that can provide a right estimate in terms of resources to be used during the transit and provide the best quote possible during the planning phase itself.
Bundling of services saving aspects
One of the most opportunistic strategic cost saving levers in the global moving services market is the bundling of services and add-ons such as providing temporary residence at source or destination during the transit. International moves involve handling customs and migrations and suppliers should be well equipped to handle issues related to customs and migrations.
Buyers prefer service providers that can provide an end to end moving services, which includes value-added services such as assembly and disassembly of equipment.
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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