LONDON--(BUSINESS WIRE)--SpendEdge has been monitoring the global conveyor systems market and the market is poised to experience spend growth of more than USD 2 billion between 2017-2022 at a CAGR of nearly 7% during the forecast period. Request Free Sample Pages.
Read the 91-page research report with TOC and LOE on "The Global Conveyor Systems Market – 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.”
This spend growth is mainly attributed to the extensive application of conveyor systems in various industries. Conveyor systems are used for moving heavy goods and bulk materials in mining, automotive, transportation, pharmaceuticals, foods and beverages, electronics, and packaging industries. The growth of these industries will have a positive impact on demand growth in the global conveyor systems market.
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Insights into market price trends:
The growth in minimum wages across the globe is compelling suppliers to simultaneously increase their compensations to employees. This is becoming a critical cost component of suppliers’ OPEX in the conveyor systems market.
- Forecasts of a rise in the price of raw materials such as steel and crude oil will inflate suppliers’ OPEX which is expected to increase the procurement costs for buyers in the conveyor systems market.
What are the strategies to adopt to achieve an optimal partnership with suppliers in terms of cost-saving opportunities in this market?
Enter into long-term contracts with suppliers
Strategic negotiation approaches are feasible when the nature of the engagement between buyers and suppliers is long-term. Buyers can leverage their long-term engagements with suppliers to seek assistance in installation, maintenance, and training as value-added services within the contract.
Procure from suppliers who provide conveyor designing and consulting services
Buyers are advised to procure from suppliers who provide conveyor designing that includes simulations, architectural drawings, and system controls and consulting services. This will enable buyers to customize the systems as per their requirements and enable them to test the systems prior to installation, which will be major cost savings for them.
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Some of the key topics covered in this report are:
- Conveyor systems market spend segmentation by region
- Total cost of ownership analysis in the conveyor systems market
- Regional spend opportunity for conveyor systems suppliers
- Conveyor systems suppliers cost structure
- Conveyor systems pricing models analysis
- Conveyor systems procurement best practices
- Category management objectives
- Cost saving opportunities in the conveyor systems market
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