LONDON--(BUSINESS WIRE)--SpendEdge has announced the availability of its latest report on Seafood Procurement for pre-order. The report on seafood procurement is part of a larger series of reports on the global food and beverages market, which includes all spend relating to raw food and beverages required to prepare meals for clients and staff. If the food has been provided as a meal, then it should be excluded from this category. The dynamics of the global seafood market play out within this wider arena of the food and beverages market. Therefore, our coverage of the seafood category also operates within this broader boundary of the overall food and beverages market.
According to our experts, suppliers are shedding the category expert tag and moving up the value chain to offer an integrated approach to their services. With this new approach, suppliers can offer a wide portfolio of services and position themselves for large contracts that go beyond just seafood. Many companies are looking to engage with seafood suppliers over long-term partnerships to derive the highest ROI possible and create an environment of trust and collaboration that allows churning out new optimization strategies.
SpendEdge’s reports now include a complimentary Covid-19 impact assessment on all reports from the food and beverages category. Our reports are intended to serve as a one-stop reference guide for companies looking for effective seafood procurement strategies and offer a perfect blend of category basics with deep-dive category data and insights – request a free sample today!
Seafood Procurement Risks
- The rising cost of labor, irregular evaluation of asset condition, and improper maintenance of the assets at the facilities increase the cost of facilities management. Also, poor planning of maintenance and contingency budgeting result in an increase in the budget of the category managers.
- The pricing terms in the contract could prove to be inadequate to safeguard the buyer from the impact of a sudden increase in supplier's cost, often arising from a lack of clarity on the scope of products or services to be delivered.
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Seafood Procurement Best Practices
- Buyers must clearly define clauses pertaining to the ownership of sub-contracting services that are not a part of their preferred suppliers' portfolios. This will ensure consistency in the services of sub-contracted firms as well as the protection of confidential data.
- Investing in benchmarking studies helps category managers to enhance their knowledge of pricing or billing rates of suppliers. This allows them to not only save costs but also negotiate better with suppliers. For example, while negotiating for bundled services, they can save significantly on a single service by cross-verifying rates quoted by suppliers against industry benchmarks.
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Key Questions Answered in this Seafood Procurement Report
- What is the spend potential in the seafood market?
- What is the correct price to pay for seafood? What are the key trends and factors that influence current and future pricing?
- Which selection criteria are the most important for seafood suppliers market?
- Who are the top seafood suppliers? What are their cost structures?
- What are supplier margins in seafood market?
- Which negotiation levers can reduce seafood procurement cost?
- What are the best practices for seafood procurement and what are the potential risks?
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