SpendEdge , a global procurement market intelligence firm, has announced the release of their Global Contactors Category - Procurement Market Intelligence Report. According to the report, increasing replacement of conventional contactors with energy-efficient contactors to minimize energy-related operational expenditure is positively affecting the spend growth momentum for this category. Additionally, increasing stringency in energy audits and inspection of plant equipment and machinery in regions are driving the demand for contactors.
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Global Contactors Category - Procurement Market Intelligence Report (Graphic: Business Wire)
“Buyers are advised to source contractors from low-cost countries to achieve cost-savings,” says SpendEdge procurement expert Angad Singh. “However, while doing so, the suppliers must be evaluated on factors like logistics costs, quality of products, and their inventory management capabilities,” added Angad.
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SpendEdge’s procurement market intelligence reports for the electrical components category help in identifying category pricing dynamics to assist both the buyers and the suppliers to design a cost-effective category procurement strategy. The reports highlight the supplier performance benchmarking criteria to help buyers achieve their procurement goals. Additionally, SpendEdge’s reports provide insights on the sustainability and procurement best practices for the category.
The procurement experts at SpendEdge expect the following factors to play a key role in influencing the global category spend for contractors market.
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Report scope snapshot: Contactors market
Category management strategy
Category pricing insights
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