LONDON--(BUSINESS WIRE)--SpendEdge has been monitoring the global cold chain industry and the industry is poised to experience spend growth of more than USD 90 billion between 2019-2024 at a CAGR of over 12% during the forecast period. Request Free Sample Pages.
Read the 130-page research report with TOC and LOE on "The Global Cold Chain Industry – Procurement Intelligence Report, Pricing Outlook in Geographies that include APAC, North America, South America, and MEA, and insights into best practices to optimize procurement spend.”
Spend growth in this industry will be primarily attributed to the growing requirement from end-user sectors such as pharmaceutical, medical, and food industries for safe and efficient passage of perishable cargoes across countries.
The increase in the consumption of frozen food in North America will create the requirement of efficient logistics infrastructure support in terms of refrigerated storage, pre-cooling services, and specialized packaging services. This will contribute to the spend momentum in the cold chain industry in this region.
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Insights into the industry price trends
- The rise in fuel and energy price and the tendency of using outdated fleet is adding to the logistics costs incurred by cold chain suppliers. Such expenditure is usually passed on to buyers as high service rates.
- An imbalance in the demand and supply ratio of cold chain services such as across emerging markets such as APAC, MEA, and South America will result in a significant rise in the price of service offerings.
What are the strategies to adopt to optimize procurement spend in this industry?
Engage with suppliers who have a strategic partnership with 3PL
Buyers are advised to assess suppliers based on their ownership of a fleet of owned/leased reefers, multi-temperature trailers. Suppliers are preferred to be partnered with logistics service providers across regions to increase their geographic reach and shipping capacity. Buyers must also assess the proximity of storage facilities to shipping ports and the shipment handling capabilities of ports before engaging with suppliers.
Opt for suppliers that can optimize arrangements of pallets
Optimization of pallet arrangement is required to maximize space utilization across containers, reefers, and trailers of varying capacity. This helps to save cost and ship an optimal number of pallets during a single transit. Hence, buyers must evaluate suppliers based on their expertise to optimize the pallet arrangement across diverse types of goods/products.
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Some of the key topics covered in this report are:
- Cold chain industry spend segmentation by region
- Total cost of ownership analysis in the cold chain industry
- Regional spend opportunity for cold chain suppliers
- Cold chain suppliers cost structure
- Cold chain pricing models analysis
- Cold chain procurement best practices
- Category management objectives
- Cost saving opportunities in the cold chain industry
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