LONDON--(BUSINESS WIRE)--SpendEdge has announced the availability of its latest report on Leather Procurement for pre-order. The report on leather procurement is part of a larger series of reports on the global clothing and textiles market, which includes all spend related to the procurement of different articles of clothing and textiles used for business operations such as industrial footwear, uniforms, and protective clothing and equipment.
According to our experts, the frequency of the regulatory changes is impacting multiple functions within an organization. Alignment of procurement practices and decisions with all the new regulations has now become highly challenging, especially when category managers are responsible to centrally procure for multiple regions with different regulations. Several factors in the value chain of leather, such as labor cost, logistics, and energy costs are driving up the procurement costs. Additionally, engagement with suppliers who are still operating with outdated assets, technologies, and processes is increasing the cost for buyers.
SpendEdge’s reports now include a complimentary Covid-19 impact assessment on all reports from the clothing and textiles category. Our reports are intended to serve as a one-stop reference guide for companies looking for effective LEATHER procurement strategies and offer a perfect blend of category basics with deep-dive category data and insights – request a free sample today!
Leather Procurement Risks
- The category is exposed to the currency exchange risks primarily due to a high amount of imports of raw material. The lowering down of Dollar and Euro prices against the currency of exporting regions will result in suppliers incurring extra expenses that will ultimately affect the profitability of buyers.
- When requirements of the buyers are not absolutely clear or usage patterns are not stable or predictable, suppliers often build in \"cost buffers\" for unforeseen risks due to a lack of a complete understanding of the buyer's requirements. This increases the risk of overspending on leather.
- Not what you are looking for? SpendEdge now offers custom studies and reports that are suited to the needs of every type and size of organizations across the globe. Request a free demo of our procurement platform and access the complete library of reports for free!
Leather Procurement Best Practices
- Buyers are expected to consider engaging suppliers who use advanced technologies such as automation, robotics, and lean manufacturing in their manufacturing process. The use of such technologies enables suppliers to control their OPEX and reduce TAT, which will help buyers avail volume-based discounts on category purchases.
- Buyers should proactively manage relations with leather suppliers and have pre-determined intervention criteria for onboarding or replacing a supplier, changing specifications or terms and conditions.
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Key Questions Answered in this Leather Procurement Report
- What is the spend potential in the leather market?
- What is the correct price to pay for leather? What are the key trends and factors that influence current and future pricing?
- Which selection criteria are the most important for leather suppliers market?
- Who are the top leather suppliers? What are their cost structures?
- What are supplier margins in leather market?
- Which negotiation levers can reduce leather procurement cost?
- What are the best practices for leather procurement and what are the potential risks?
About SpendEdge
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