LONDON--(BUSINESS WIRE)--SpendEdge, a global procurement market intelligence firm, has announced the release of its Global Office Supplies Industry – Procurement Intelligence Report.
Employers are observed to deepen their focus on improving well-being/hygiene and health at the workplace. This drive will create a substantial requirement for non-core office and business supplies, such as adjustable desks and air purifiers. This will act as one of the most prominent growth drivers in the office supplies industry. According to the forecasts, North America, Europe, and APAC will dominate the global office supplies industry and together, they are currently accounting for approximately 83% of share in the global spend. However, in the years to come, APAC will outpace the other regions in terms of spend growth owing to the increase in the number of businesses in developing countries such as China, India, Australia, and Japan.
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“Suppliers are shifting from a brick-and-mortar model to an online system, which requires them to manage a large inventory of office supplies. Forecasts for an increase in the rent of warehouses will contribute to the price of office supplies during the forecast period,” says lead SpendEdge procurement analyst Angad Singh.
Office supplies price trends imply phases of dynamism in the cost structure of suppliers. An increase in the cost of resources and materials that are used to produce products pertaining to this industry will compel the suppliers to readjust their pricing structure. This will have a subsequent impact on the buyer’s procurement spend in the office supplies industry.
Some Insights into the Office Supplies Price Trends
- An increase in minimum wages globally will compel manufacturers and suppliers to raise wages paid to their employees, which in turn, will contribute to the growth in the office supplies prices.
- The volume-based pricing model is the most widely adopted model in the global office supplies industry. This pricing model makes it easy for buyers to compare prices offered by suppliers and helps buyers procure discounts based on a large volume of purchase.
Time is money in business and it is ticking. Access to SpendEdge’s procurement platform is free and instant where you can get daily insights into the best supplier selection and negotiation strategies with the best suppliers in the office supplies industry.
What are the scopes of optimizing procurement spend in the office supplies industry?
Consolidation of supply base will play a key role for buyers to determine areas where they can optimize their procurement spend in the office supplies industry.
- It is prudent of buyers to procure from global suppliers who have regional/local presence to reduce costs associated with the transportation of office supplies to their facilities. This, in turn, will reduce the buyer’s overall procurement cost and decrease the length of their supply chains.
- Buyers are advised to engage with suppliers who can facilitate bundling of products such as writing instruments, electronic supplies, paper-based products, and janitorial supplies. This will provide buyers with cost-saving opportunities as it will help them avoid documentation that is associated with engagements with multiple suppliers. Such a strategic partnership will also result in a reduction in logistics and warehousing costs and consolidate the buyer’s supply base.
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Some of the key topics covered in this report are:
- Office supplies industry spend segmentation by region
- Total cost of ownership analysis in the office supplies industry
- Regional spend opportunity for office supplies suppliers
- Office supplies suppliers cost structure
- Office supplies suppliers selection criteria
- Office supplies suppliers under coverage
- Procurement best practices
- Category management objectives
- Cost saving opportunities in the office supplies industry
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