LONDON--(BUSINESS WIRE)--SpendEdge, a global procurement market intelligence firm, has announced the release of its Global VRF Systems Market - Procurement Intelligence Report.
The procurement and the maintenance of vrf systems entail strings of fringe expenses. Most of the time, the amount might not be that significant to stir the concerns of category managers. In the due process, the repetition of these expenses starts posing as serious spend accelerators that results in budget overrun by huge margins in the vrf systems market. This is currently considered as one of the major procurement challenges in the vrf systems market. Frequent fluctuations of raw material prices are inflating vrf systems suppliers’ OPEX, part of which is ultimately compensated by buyers in the form of excess procurement spend in the vrf systems market.
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However, in-depth comprehension of the impact of vrf systems price trends on the buyer’s procurement budget followed by the execution of the best-suited procurement strategies is bringing investments in this market. This is evident in the projected spend growth of the vrf systems market that is nearly USD 9 billion with spend momentum accelerating at a CAGR of 12.31% during the forecast period. This increase in spend growth for the VRF systems market will be attributed primarily to the growth of the global construction sector. The strong growth of the APAC construction sector, in particular, is likely to drive the acceleration of spend momentum for VRF systems. For example, in 2016, the construction sector in China grew by more than 15% compared with 2015. This report has answered some of the critical questions that are pertinent to the present procurement scenario in the vrf systems. Some of which is listed below:
What are the vrf systems price trends that are driving the overall price structure in the global vrf systems market?
- The increase in prices of raw materials such as steel, aluminum, and fiberglass will have an inflationary impact on the prices of VRF systems. Steel, which is used for the manufacturing of major components such as furnaces and heat exchangers is especially expected to witness a strong price increase.
Uncontrolled procurement spend is playing as one of the most antagonizing forces across a range of markets and lack of visibility of the same is hitting the buyer’s business where it hurts the most. Get a free demo of our web-based platform to get instant and real-time insights on the price trends and procurement strategies that are being adopted by your competitors.
- To cater to buyers’ demand for energy-efficient solutions, suppliers are making extra efforts and are leveraging advanced technologies such as IoT and predictive maintenance tools. This is further adding to their operational costs and such additional expenses will be ultimately borne by buyers in the form of excess procurement spend.
What are the scopes of optimizing procurement spend with these upward rising vrf systems price trends?
The scopes to optimize spend are ample and it will require strategic insights into the vrf systems market. Strategic selection of suppliers will not only fulfill the buyer’s delivery requirements but will also play a critical role in guiding the buyers to adopt measures to optimize their procurement spend. As a matter of fact, suppliers who are known to adopt cost-optimizing measures pass on their profits to the buyers in the form of reduced product prices. With cost-savings as one of the primary objectives, some of the criteria that this report has enlisted and should be considered while selecting vrf systems suppliers are:
Assess VRF Systems Supplier’s Project Management Capabilities
Typically, the installation of vrf systems entails high costs, time, and complexities. These factors make it imperative for buyers to assess the project management capabilities of suppliers who are responsible for this task and are critical to the success of the project. Buyers can assess the project management capabilities of suppliers by asking them to furnish details regarding similar projects that suppliers have undertaken in previous years.
Adherence to Payment Terms by VRF Systems Suppliers
In the vrf systems market, adherence to payment terms ensures that suppliers have the funds to sustain their operations and provide excellent value-added services to buyers. However, increasing product development costs and intensifying competition have further strained the margins of suppliers.
Now buy one report and get a 50% discount on the second. Contact us to know more about the packages and additional discounts you can avail from SpendEdge or first, check the free sample of this vrf systems market procurement intelligence report.
Some of the key topics covered in this report are:
- VRF systems market spend segmentation by region
- Total cost of ownership analysis in the vrf systems market
- Regional spend opportunity for vrf systems suppliers
- Vrf systems suppliers cost structure
- Vrf systems suppliers selection criteria
- Vrf systems suppliers under coverage
- Procurement best practices
- Category management objectives
- Cost saving opportunities in the vrf systems market
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