#procurement intelligence

[industrynewsupdates]

Fasteners Procurement Intelligence: A Comprehensive Guide

The fasteners category is anticipated to grow at a CAGR of 4.42% from 2023 to 2030. APAC holds the largest category share of over 40% and it is expected to be the fastest growing region during the forecast period. The increased use in the construction and automotive industries is driving considerable growth in the fasteners category. These fasteners are semi-permeant or occasionally permeant solutions, and the development of the construction industry, research and development initiatives, urban real estate infrastructure, and technological developments in the production of lightweight goods for the automotive and other industrial sectors are all factors that have an impact on their growth. The creation of innovative and novel industrial fasteners also helps the category growth.

In the building sector, they are employed to temporarily link two or more things together. As the industry demands strength and accuracy, building and construction fasteners are employed in heavy-duty applications to link materials together. Different fastening forms are employed in the construction industry, including stainless steel, alloy steel, and carbon steel. Nuts, bolts, washers, screws, and rivets are typical examples of building construction items. To ensure secure and sturdy construction, each infrastructure project needs a different kind of fastening product. Due to its affordability, strength, and workability, carbon steel is used to make the majority of products. The demand for industrial fasteners is increased by the fact that stainless steel is the most popular building material because of its strength, resistance to heat, and resistance to corrosion.

Corrosion resistance qualities will spur significant investment in the creation of new products, meeting consumer demand. During the projection period, rising consumer emphasis on residential and commercial building aesthetics will fuel industry expansion in the use of cable management and building exteriors. However, the negative aspect of working with fasteners is that they typically require special tools for setting up, which can increase project costs and complexity. Other types require extra steps like pre-drilling holes or applying thread-locking compounds, which adds extra labor and time to installation. Not to mention, depending on the application, some types may not be strong enough or sufficiently resilient for prolonged use, which could lead to expensive repairs in the future if not handled effectively from the start. It has been noted that these costs limit the category growth.

Order your copy of the Fasteners Procurement Intelligence Report, 2023 - 2030, published by Grand View Research, to get more details regarding day one, quick wins, portfolio analysis, key negotiation strategies of key suppliers, and low-cost/best-cost sourcing analysis

The fasteners category is fragmented and highly competitive in nature, with various large and small-scale manufacturers in China, Taiwan, Thailand, and Japan. Opportunities for new companies should arise from the rising need for inventive and application-specific industrial fastener designs. Over the projection period, rising raw material costs and high-volume manufacturing by the established companies are anticipated to be the main obstacles for new entrants. Furthermore, major fastener producers are likely to have an edge over small-scale competitors due to technological expertise and a strong customer base. For instance:

• In July 2023, next-generation FLEXTORQ® Impact Driver Bits were introduced by DEWALT, a division of Stanley Black & Decker Inc. These are created with fasteners and engineered for durability, advancing and improving driver bit technology for fastening applications.

• In January 2023, Birmingham Fasteners and Supply Inc. purchased Pacific Coast Bolt Corp. to diversify its manufacturing. The goal was to boost its presence in the commercial fastener market and provide customer service to clients across the United States.

• In September 2021, LINC Systems, LLC, a commercial fastener and packaging distributor platform, announced the acquisition of Air-O Fasteners. The deal was to expand the company's foothold in the Western United States.

Raw material, labor, machinery & equipment, and energy form the major cost components of this category. Raw material is the largest cost component accounting for around 60% - 70% of the total cost followed by labor at roughly 20%. The war between Russia and Ukraine has affected the supply of raw materials (copper, aluminum, etc.), as Russia produces roughly 4% of the world's copper and about 6% of its aluminum. The fasteners category is an example of an industry where suppliers implement cost-plus pricing model. This is because fasteners are typically low-cost, commodity products with little differentiation between brands. As a result, companies in this industry often compete on price, and cost-plus pricing is a simple and easy way to set prices that are competitive.

China, and India are among the most of the preferred sourcing destinations in this category.China has a robust manufacturing industry and offers a wide range of suppliers with diverse capabilities and cost-effective production options. India is a popular destination for metalworking processes due to its established manufacturing sector. For sourcing fasteners, research the market to understand the types, quality, and prices available. Develop a sourcing strategy by identifying the needs, budget, and potential suppliers. Build relationships with suppliers to get the best prices and quality fasteners. Negotiate prices, especially if buying in bulk. Document all the terms & conditions to avoid discrepancies. Monitor suppliers to ensure they meet the agreed quality standards. Use a variety of sources for the best prices and quality.

Fasteners Procurement Intelligence Report Scope

• Fasteners Category Growth Rate: CAGR of 4.42% from 2023 to 2030

• Pricing growth Outlook: 3% - 5% (annual)

• Pricing Models: Cost-plus pricing model, fixed-fee pricing model, discount pricing model

• Supplier Selection Scope: Cost and pricing, Past engagements, Productivity, Geographical presence

• Supplier selection criteria: Quality assurance, service level agreement, environmental compliance, lead times, technical specifications, operational capabilities, regulatory standards and mandates, category innovations, and others

• Report Coverage: Revenue forecast, supplier ranking, supplier matrix, emerging technology, pricing models, cost structure, competitive landscape, growth factors, trends, engagement, and operating model

Browse through Grand View Research’s collection of procurement intelligence studies:

• Flooring Services Procurement Intelligence Report, 2023 - 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)

• Fixed Line Services Procurement Intelligence Report, 2023 - 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)

Key companies profiled

• Arconic Fastening Systems and Rings

• Acument Global Technologies Inc.

• ATF Inc.

• Dokka Fasteners AS

• LISI Group

• Nippon Industrial Fasteners Company

• Hilti Corporation

• MW Industries Inc.

• Birmingham Fasteners and Supply Inc.

• SESCO Industries Inc.

Brief about Pipeline by Grand View Research:

A smart and effective supply chain is essential for growth in any organization. Pipeline division at Grand View Research provides detailed insights on every aspect of supply chain, which helps in efficient procurement decisions.

Our services include (not limited to):

• Market Intelligence involving – market size and forecast, growth factors, and driving trends

• Price and Cost Intelligence – pricing models adopted for the category, total cost of ownerships

• Supplier Intelligence – rich insight on supplier landscape, and identifies suppliers who are dominating, emerging, lounging, and specializing

• Sourcing / Procurement Intelligence – best practices followed in the industry, identifying standard KPIs and SLAs, peer analysis, negotiation strategies to be utilized with the suppliers, and best suited countries for sourcing to minimize supply chain disruptions

[incture]

Intelligent Procurement suite of Digital Applications | Cherrywork

Procurement intelligence refers to the process of gathering, analyzing, and utilizing information to make informed decisions and strategies related to procurement activities within an organization. It involves the collection and analysis of data from various sources to gain insights into market trends, supplier performance, pricing, risk factors, and other relevant factors that can impact the procurement process.

The objective of procurement intelligence is to enhance the efficiency and effectiveness of procurement operations by providing accurate and timely information. This information helps organizations make informed decisions about supplier selection, negotiation strategies, contract management, and overall supply chain optimization.

Procurement intelligence relies on both internal and external data sources. Internal data may include historical procurement data, spending patterns, and supplier performance metrics, while external data can include market research reports, industry news, economic indicators, and supplier databases.

By leveraging procurement intelligence, organizations can identify cost-saving opportunities, mitigate risks, improve supplier relationships, and optimize their procurement processes. It enables strategic decision-making, improves negotiation outcomes, and facilitates proactive supply chain management.

Cherrywork®️ Intelligent Procurement digital applications help improve the procurement process and make more informed and strategic purchasing decisions.

Transforming Procurement with Data-Driven Insights

With our intelligent procurement suite of data-driven applications, your procurement teams can make more informed decisions, drive efficiency, and reduce costs, delivering greater value to your business. The focus applications in Intelligent Procurement Suite are:

Cherrywork Accounts Payable Automation

Cherrywork Supplier Onboarding & Risk Management

Cherrywork Supplier Collaboration Portal

Cherrywork Spend Analytics

Cherrywork Intelligent Saving Program Management

Cherrywork CapEx & OpEx Management

[miller-cris]

Unlocking Growth Potential: Harnessing the Power of Market Intelligence

Unlocking Growth Potential: Harnessing the Power of Market Intelligence

Introduction:

In today's highly competitive business landscape, gaining a competitive edge and driving sustainable success requires a deep understanding of market dynamics. This is where market intelligence comes into play. In this blog post, we will explore the pivotal role of market intelligence in empowering businesses to make informed decisions, seize opportunities, and stay ahead of the curve.

Defining Market Intelligence: Market intelligence involves the systematic collection, analysis, and interpretation of data related to market trends, customer behavior, competitor strategies, and other crucial factors influencing business performance. It provides organizations with valuable insights that aid in strategic decision-making and identifying areas for growth.

The Importance of Market Intelligence: a. Unveiling Market Trends: Market intelligence allows businesses to stay updated on industry trends, emerging technologies, and changing customer preferences. By analyzing this data, organizations can proactively adapt their strategies to meet evolving market demands.

b. Competitor Analysis: Understanding competitor strategies, strengths, and weaknesses is vital for success. Market intelligence provides valuable insights into competitor positioning, product offerings, pricing, and marketing tactics. This information enables businesses to refine their own strategies and differentiate themselves in the market.

c. Customer Insights: Market intelligence helps organizations gain a comprehensive understanding of their target audience. By analyzing customer behavior, preferences, and feedback, businesses can tailor their products, services, and marketing efforts to better meet customer needs, resulting in enhanced customer satisfaction and loyalty.

Leveraging Market Intelligence: a. Data Collection and Analysis: Market intelligence relies on robust data collection from diverse sources such as industry reports, surveys, market research, and social media monitoring. Analyzing this data using advanced tools and techniques enables businesses to extract meaningful insights.

b. Identifying Opportunities: Market intelligence helps organizations identify untapped market opportunities and niches. By analyzing market gaps, emerging trends, and customer pain points, businesses can develop innovative products, enter new markets, or refine existing offerings.

c. Risk Mitigation: Market intelligence also helps organizations anticipate and mitigate potential risks. By monitoring market fluctuations, regulatory changes, and competitor activities, businesses can proactively adjust their strategies to minimize risks and maximize opportunities.

Implementing an Effective Market Intelligence Strategy: a. Clearly Define Objectives: Define the specific goals and objectives of your market intelligence initiatives. Determine the key areas of focus, such as competitive analysis, market trends, or customer insights, to align your efforts accordingly.

b. Invest in Technology: Leverage technology tools and platforms that streamline data collection, analysis, and visualization. Automation and data analytics solutions enable businesses to process large volumes of data efficiently and extract actionable insights.

c. Continuous Monitoring and Adaptation: Market intelligence is an ongoing process. Regularly monitor market trends, competitor activities, and customer feedback to stay agile and respond swiftly to changes. Adapt and refine your strategies based on the insights gained through market intelligence.

Conclusion: In today's fast-paced and competitive business environment, market intelligence serves as a powerful tool for organizations seeking growth and success. By embracing market intelligence, businesses can make informed decisions, uncover new opportunities, and gain a competitive advantage. By prioritizing market intelligence as an integral part of their strategy, businesses can unlock their true potential and thrive in an ever-evolving marketplace.

[procurement-insights]

The GenAI Metaprise (Orchestration) and Operating System (Intake) Priority

How well would your PC work without an operating system?

EDITOR’S NOTE: The following is an insightful exchange I had with AOP’s Philip Ideson’s comment on my recent post, DPW Remote Dispatch: To Build Or Not To Build In-House. PHILIP IDESON COMMENT: Jon its a good question. I moderated a main stage panel with two leading CPOs where this discussion came up. The issue at hand is AI governance and risk – and so at least the CPOs I talked to are…

[tamanna31]

Electric Vehicle Charging Connector Procurement Intelligence 2030: Electric Vehicle Charging Connector Market to Forecast to Register CAGR of Over 18.09%

Electric Vehicle Charging Connector Procurement Intelligence

Procurement of the electric vehicle charging connector has become pivotal to fostering sustainability trends across advanced and emerging economies. The global market size was pegged at USD 70.03 million in 2023. The increasing demand for charging stations reflects a shift towards cleaner and sustainable transportation solutions. IEA 2023 global estimates show that in 2022, more than 600,000 public slow charging stations were installed in China. Europe ranked second with 460,000 chargers in 2022. For Europe, this was a 50% increase in 2022 from 2021. Netherlands, France, and Germany had the highest chargers installations within Europe. In the U.S., the stock of slow chargers rose by 9% in 2022. In the case of fast chargers, China accounted for 760,000 units.

The European governments are aggressively pushing for the development of public EV charging stations to comply with the Alternative Fuels Infrastructure Regulation (AFIR). The presence of public charging points is becoming more important to facilitate the adoption of electric vehicles on a larger scale, which, in turn, boosts the market growth.

The main obstacle to the swift adoption of electric trucks for regional and long-haul operations is the availability of "mid-shift" quick charging. At present, there are multiple charging standards in use, and technical specifications for ultra-fast charging are currently under development. The charging connector can be divided into Type 1 (or J Plug or SAE J1772), Type 2, CCS Type 1, CCS Type 2, CHAdeMO, GB/T and Tesla connectors. The North American Charging Standard (NACS), also known as the Tesla charging standard, is currently being standardized as SAE J3400. This is one of the most popular trends in the industry. Even though EV sales surpassed 1 million in the U.S. in 2023, the nation still stands behind China and Germany. This can be primarily attributed to the limited availability of charging infrastructure in the country. Hence, as part of increasing sales strategy, Tesla plugs are to be used for all EVs in the U.S. in the near future.

The global EV charging connector industry is fragmented. The charging stations, overall, have witnessed significant growth in China. The electric vehicle charging value chain consists of a range of stakeholders. At the upstream level, manufacturers specialize in providing critical equipment for station construction, such as shells, cables, and connectors/plugs. The midstream level mainly comprises operation and construction companies that manage the charging stations. The downstream segment encompasses a cohort of companies that specialize in providing reservation and location services, payment functionalities, and operational management platforms. These services are designed to facilitate seamless integration across the value chain, thus improving the overall experience.

Order your copy of the Electric Vehicle Charging Connector category procurement intelligence report 2023-2030, published by Grand View Research, to get more details regarding day one, quick wins, portfolio analysis, key negotiation strategies of key suppliers, and low-cost/best-cost sourcing analysis

Electric Vehicle Charging Connector Sourcing Intelligence Highlights

The category is fragmented. However, the top eight to ten players such as Tesla, ABB, Bosch, Siemens, Schneider, Yazaki, and Sumitomo hold dominant market positions with better negotiation power.

Regionally in China, as per 2022 estimates, TGOOD dominated with 40% of the total BEV charging station sector/market share. In 2022, the top five companies in the charging operations sector were TGOOD, Star Charge, YKC, State Grid, and Xiaojuchongdian in China.

The cost to manufacture a wire or cable can in turn depend on several factors such as the type of metals used-steel or copper, type of wiring, size, and thickness. Copper is a major component used in EV motors, batteries, wiring, and charging stations. In September 2023, global copper prices reached USD 8,535 per MT.

The most preferred countries for procuring this category are China, Japan, South Korea, the U.S. and Germany. Most of the automotive companies or OEMs or EV makers prefer adopting a hybrid outsourcing engagement model with cable manufacturers.

List of Key Suppliers

ABB Ltd.

Bosch Automotive Service Solutions LLC.

Tesla, Inc.

Siemens AG

YAZAKI Corporation

Sumitomo Electric Industries, Ltd

Huber + Suhner AG

ITT Cannon Inc.

Amphenol Corporation

Fujikura Global

Aptiv PLC

Hirose Electric Co., Ltd

Browse through Grand View Research’s collection of procurement intelligence studies:

Cyber Security Procurement Intelligence Report, 2023 - 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)

Lab Equipment Procurement Intelligence Report, 2023 - 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)

Electric Vehicle Charging Connector Procurement Intelligence Report Scope

Electric Vehicle Charging Connector Category Growth Rate: CAGR of 18.09% from 2023 to 2030

Pricing Growth Outlook: 5% - 18% (Annually)

Pricing Models: Cost-plus and time-based, energy-based, fixed rate, and hybrid pricing models

Supplier Selection Scope: Cost and pricing, past engagements, productivity, geographical presence

Supplier Selection Criteria: By socket type, charging power and time, electric consumption, operational and functional capabilities, quality measures, standards followed, certifications, regulations, and others

Report Coverage: Revenue forecast, supplier ranking, supplier positioning matrix, emerging technology, pricing models, cost structure, competitive landscape, growth factors, trends, engagement, and operating model

Brief about Pipeline by Grand View Research:

A smart and effective supply chain is essential for growth in any organization. Pipeline division at Grand View Research provides detailed insights on every aspect of supply chain, which helps in efficient procurement decisions.

Our services include (not limited to):

Market Intelligence involving – market size and forecast, growth factors, and driving trends

Price and Cost Intelligence – pricing models adopted for the category, total cost of ownerships

Supplier Intelligence – rich insight on supplier landscape, and identifies suppliers who are dominating, emerging, lounging, and specializing

Sourcing / Procurement Intelligence – best practices followed in the industry, identifying standard KPIs and SLAs, peer analysis, negotiation strategies to be utilized with the suppliers, and best suited countries for sourcing to minimize supply chain disruptions

[currentmediasstuff]

India AI Mission: Union Minister Ashwini Vaishnaw Unveils Rs 10,000 Crore Initiative

Union IT Minister Ashwini Vaishnaw announced on Wednesday the launch of the Rs 10,000 crore India AI Mission, slated to roll out in the next two to three months. This ambitious initiative aims to bolster India’s capabilities in artificial intelligence (AI) by procuring computing power, fostering innovation, and enhancing skill development across the industry.

Key Components of India AI Mission

During the inaugural session of the Global IndiaAI Summit 2024, Minister Vaishnaw outlined several key components of the India AI Mission:

1.Graphics Processing Units (GPUs) Procurement: The government plans to procure 10,000 or more GPUs under a public-private partnership. This initiative aims to enhance industry efficiencies and support larger-scale AI applications.

2.AI Innovation Centre: The mission will establish an AI innovation centre to foster cutting-edge research and development in AI technologies.

3.High-Quality Data Sets: Special emphasis will be placed on creating high-quality data sets that can add significant value to startup initiatives and AI development efforts.

4.Application Development Initiative: A dedicated effort will be made to develop applications that address socio-economic challenges faced by India, leveraging AI solutions.

5.Focus on Skill Development: The India AI Mission will prioritize skill development initiatives to equip the workforce with the necessary capabilities to harness AI technologies effectively.

Strategic Importance and Global Context

Vaishnaw highlighted the strategic importance of making modern technology accessible to all, citing India’s digital public infrastructure as a prime example. He underscored the need for equitable access to technology, contrasting it with global trends where technology often remains limited to a few dominant entities.

Addressing AI Challenges

Acknowledging the dual nature of AI’s impact, Vaishnaw discussed the opportunities and challenges posed by AI technologies. He noted the global efforts to regulate AI, such as the AI Act in the European Union and executive orders in the United States, emphasizing their relevance in addressing AI-related issues globally.

Conclusion

As AI continues to evolve and impact various sectors, Minister Vaishnaw emphasized the importance of balancing innovation with responsible use. The India AI Mission, with its comprehensive approach to fostering AI capabilities, aims to position India as a leader in AI innovation while addressing societal challenges and ensuring inclusive growth.

[bicxoseo]

What benefits do AI inventory systems offer businesses?

AI inventory systems offer businesses numerous benefits. From the perspective of an enterprise resource management software organization, these systems significantly streamline operations. By leveraging an inventory analytics dashboard, companies gain real-time insights into stock levels, helping to prevent overstocking and stockouts. This not only reduces holding costs but also ensures products are always available when customers need them.

Moreover, AI can predict demand patterns, allowing businesses to optimize their inventory based on upcoming trends and historical data. This predictive capability means fewer surprises and better preparedness for market fluctuations. Additionally, AI inventory systems automate many manual processes, freeing up staff to focus on more strategic tasks, ultimately boosting overall efficiency.

In short, integrating AI into inventory management with tools like an inventory analytics dashboard enhances accuracy, saves time, and cuts costs, making it a smart move for any forward-thinking business.

Visit our website if you are interested by clicking here

[magistralconsulting1]

A brief introduction to our Procurement and Supply Chain Services!!

[whrm]

Global Triglycine Sulfate TGS Market is Expected to Register a Substantial Revenue CAGR over the Forecast Period

Xcellent Insights has recently added a novel report titled, “Global Triglycine Sulfate TGS Market, Forecast to 2032” to the product and service offerings. The report highlights various market aspects and factors in order to help users, readers and investors have an overview of the Triglycine Sulfate TGS industry. The market study covers significant research data generated with extensive primary and secondary research methodology, evaluated by specialists and professionals in the industry. The report sheds light on market trends, growth drivers, constraints, opportunities, and upcoming challenges.

Primary Discoveries from This Report:

Evaluation of the present condition, forthcoming projections, growth potential, major market players, and key market trends in the global Triglycine Sulfate TGS market. Detailed profiles of key players, along with an examination of their strategies and developmental approaches. Anticipated outlook for the global Triglycine Sulfate TGS market, categorized by product type, specific markets, and crucial geographical areas. Comprehensive insights into import and export statistics, consumption patterns, supply and demand dynamics, cost structures, pricing trends, revenue generation, and gross profit margins. Scrutiny of evolving trends in development and effective marketing avenues. Get PDF Sample Report + All Related Table and Graphs: https://www.xcellentinsights.com/enquiry/sample/553919

Competitive Landscape Analysis:

The global market is quite fragmented and consists of several market players operating at regional and global levels. The report sheds light on global standing, license agreement, product launches, and revenue status, of each market player. Some of the leading market players listed below are involved in adopting several other strategies such as mergers and acquisitions, collaborations, partnerships, joint ventures, and license agreements.

Triglycine Sulfate TGS Market Key Players:

Jiuding Chemical Bai Ling Wei Meryer TCI Chemical Thermofisher Aladdin Onochem

Triglycine Sulfate TGS Market Segment by Type:

98%(N)(T) 99%(N)(T) Others

Triglycine Sulfate TGS Market Segment by Application:

Electroplating Industry Detecting Element Other

Would You Like to Ask A Question? Ask Our Expert: https://www.xcellentinsights.com/enquiry/buying/553919

Triglycine Sulfate TGS Market Segment by Region:

North America (US, Canada) Europe (Germany, France, UK, Italy, Russia) Asia Pacific (China, Japan, South Korea, India, Australia, Taiwan, Indonesia, Malaysia, Philippines, Vietnam) Latin America (Mexico, Brazil, Argentina) Middle East & Africa (Turkey, Saudi Arabia, UAE) Questions Addressed in the Report:

What was the market size of Triglycine Sulfate TGS market in 2022? What revenue CAGR is the global market expected to register during the forecast period? What are the key factors that can hamper overall market growth to a certain extent during the forecast period? Which region is expected to account for the largest revenue share during the forecast period? What are some key opportunities and risks that the vendors in the global market expected to face during the forecast period? What key factors are expected to drive global market revenue growth during the forecast period? Direct Purchase Report: https://www.xcellentinsights.com/checkout/553919

Highlights Of The Report:

Exploration of Potential Innovations: The report delves into the exploration of novel products and business approaches that can be adopted by stakeholders in the market. Post-COVID-19 Business Landscape: The report assesses the repercussions of the COVID-19 pandemic and identifies business prospects in the global Triglycine Sulfate TGS Market arising from the changed scenario. Evolving Economic Trends: A comprehensive analysis of prevailing goods and services is presented within the rapidly shifting economic milieu of the global Triglycine Sulfate TGS market. Role of Technology and Strategies: The report evaluates the role of technology-driven products, business models, and marketing strategies in empowering participants in the market. Envisioning Profitable Avenues: The report forecasts potential earnings and introduces fresh business models for consideration. Distinctive Category Traits: Each market segment's unique attributes and growth potential are outlined. Investment Catalysts Amidst the Pandemic: Factors that are projected to stimulate investments in the global Triglycine Sulfate TGS industry during the pandemic are highlighted. Future Insights and Recommendations: The report concludes with insightful recommendations for the future trajectory of the global Triglycine Sulfate TGS market. Thank you for reading the research report. Kindly get in touch with us to speak with analysts to know more about the report or if you wish to avail the customized copy of this report. Our team will provide you with the curated report at the earliest.

Do You Have Any Questions About How COVID-19 Has Affected the Triglycine Sulfate TGS Market? https://www.xcellentinsights.com/reports/triglycine-sulfate-tgs-market-553919

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[industrynewsupdates]

Clinical Trials Procurement Intelligence 2024-2030: What You Need to Know

This clinical trials market is anticipated to grow at a CAGR of 6.49% from 2024 to 2030. North America is the leading region in this category, accounting for over 50.3% of the market share in 2023. This is expected to continue in the forecast period as well, due to several factors, including increased R&D investments and the adoption of new technologies. For example, the use of virtual services in clinical trials is becoming increasingly popular, and this is expected to drive growth in the North American market.

This category is driven by many key factors, including the surge in demand for outsourcing clinical trials, the increasing prevalence of chronic diseases, and the increased investments in R&D by pharmaceutical and biotechnological companies. The outsourcing of this category is becoming increasingly popular, as it allows pharmaceutical companies to focus on their core competencies and to save time and money. The increasing prevalence of chronic diseases is also driving the demand for clinical trials, as there is a need for the development of new and efficient therapeutics to treat these diseases. Also, the increased investments in R&D by pharmaceutical and biotechnological companies are driving the growth of the market, as these companies are constantly developing new drugs and therapies that need to be tested in clinical trials.

This category is a moderately fragmented market due to the presence of numerous players. Strategic alliances between pharmaceutical firms and CROs are anticipated to have a substantial impact on the category’s expansion. Additionally, the swift uptake of new technology for better healthcare contributes to the market's expansion. For instance,

• In November 2022, Calit Health Services (Israel) and IQVIA (US) announced a collaboration to work on clinical trial delivery. The collaboration will combine Calit's extensive clinical trial experience and IQVIA's global reach and expertise in data analytics.

• In April 2022, Charles River Laboratories, a pharmaceutical company that provides preclinical and clinical laboratory services, acquired Explora BioLabs, a provider of contract vivarium research services. This acquisition will allow Charles River to expand its offerings in the cell and gene therapy space.

• In February 2022, Citeline and Norstella merged to form a new company worth $5 billion. Citeline provides clinical trial management software, while Norstella provides clinical trial supplies and services. The merger of these two companies will allow them to offer a more comprehensive suite of services to pharmaceutical companies, which could help speed up the drug development process and improve patient access to new therapies.

Order your copy of the Clinical Trials Procurement Intelligence Report, 2024 - 2030, published by Grand View Research, to get more details regarding day one, quick wins, portfolio analysis, key negotiation strategies of key suppliers, and low-cost/best-cost sourcing analysis

Technological advancements in this category have revolutionized the drug development process by reducing costs and increasing efficiency. With rising trial expenses, failure rates, and a focus on patient-centric trials, the demand for the technology in clinical trials has surged. The landscape of clinical trials is evolving towards decentralization with the utilization of wearables, mHealth, and real-world evidence (RWE). These disruptive technologies enable small, controlled trials and streamline processes from patient enrollment to medication administration and follow-ups through mobile devices. Pharmaceutical companies are investing heavily in AI and big data analytics to leverage their transformative impact on the R&D process, enhance competitiveness, and facilitate company transformation and agility. Additionally, the integration of wearable devices and remote sample collection offers a safer and more convenient experience for participants, potentially increasing patient enrollment and engagement in future studies.

Defining the price and cost of this category is complex as it is dependent on various factors like phase, drug type, and location. Costs range from millions to billions, divided into patient care and research costs. Patient care costs include recruitment, enrollment, medication, safety monitoring, while research costs cover design, implementation, data analysis, and results publication. When budgeting for a clinical trial, consider various cost segments like regulatory, safety, data, quality management, overhead, and site costs. The price of this category is determined by the trial sponsor, typically a pharmaceutical company. Various factors can influence the trial's price, including its scale, complexity, and associated risks. Sponsors take these factors into account when setting the price, as they impact the resources required to conduct a successful trial.

When it comes to sourcing of this category, it is crucial to follow the best practices to ensure the high quality and integrity of the study. These practices include identifying reputable trial sites, evaluating investigator qualifications, prioritizing patient safety, assessing site capabilities, reviewing ethical considerations, evaluating data management systems, monitoring compliance with regulations, conducting site visits and audits. Additionally, it is essential to prioritize suppliers who offer comprehensive documentation, including certificates of analysis and trials conducted. By following these best practices, sponsors can enhance the quality, reliability, and ethical standards of their clinical trials. Finally, considering suppliers who engage in continuous research and development efforts can be beneficial for this category.

Clinical Trials Procurement Intelligence Report scope

• Clinical Trials Category Growth Rate: CAGR of 6.49% from 2024 to 2030

• Pricing Growth Outlook: 2% - 3% (Annually)

• Pricing Models: Unit-based pricing

• Supplier Selection Scope: Cost and pricing, Past engagements, Productivity, Geographical presence

• Supplier selection criteria: Reviewing ethical considerations, prioritizing patient safety, regulatory standards and mandates, category innovations, and others

• Report Coverage: Revenue forecast, supplier ranking, supplier matrix, emerging technology, pricing models, cost structure, competitive landscape, growth factors, trends, engagement, and operating model

Browse through Grand View Research’s collection of procurement intelligence studies:

• Clinical IT Services Procurement Intelligence Report, 2023 - 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)

• Clinical Staffing Services Procurement Intelligence Report, 2023 - 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)

Key companies profiled

• IQVIA

• PAREXEL International Corporation

• Pharmaceutical Product Development

• Charles River Laboratory

• ICON Plc

• Syneos Health

• Chiltern International Ltd

• Eli Lilly and Company

• Pfizer

• Caidya

Brief about Pipeline by Grand View Research:

A smart and effective supply chain is essential for growth in any organization. Pipeline division at Grand View Research provides detailed insights on every aspect of supply chain, which helps in efficient procurement decisions.

Our services include (not limited to):

• Market Intelligence involving – market size and forecast, growth factors, and driving trends

• Price and Cost Intelligence – pricing models adopted for the category, total cost of ownerships

• Supplier Intelligence – rich insight on supplier landscape, and identifies suppliers who are dominating, emerging, lounging, and specializing

• Sourcing / Procurement Intelligence – best practices followed in the industry, identifying standard KPIs and SLAs, peer analysis, negotiation strategies to be utilized with the suppliers, and best suited countries for sourcing to minimize supply chain disruptions

[reasonsforhope]

Green energy is in its heyday. 

Renewable energy sources now account for 22% of the nation’s electricity, and solar has skyrocketed eight times over in the last decade. This spring in California, wind, water, and solar power energy sources exceeded expectations, accounting for an average of 61.5 percent of the state's electricity demand across 52 days. 

But green energy has a lithium problem. Lithium batteries control more than 90% of the global grid battery storage market. 

That’s not just cell phones, laptops, electric toothbrushes, and tools. Scooters, e-bikes, hybrids, and electric vehicles all rely on rechargeable lithium batteries to get going. 

Fortunately, this past week, Natron Energy launched its first-ever commercial-scale production of sodium-ion batteries in the U.S. 

“Sodium-ion batteries offer a unique alternative to lithium-ion, with higher power, faster recharge, longer lifecycle and a completely safe and stable chemistry,” said Colin Wessells — Natron Founder and Co-CEO — at the kick-off event in Michigan. 

The new sodium-ion batteries charge and discharge at rates 10 times faster than lithium-ion, with an estimated lifespan of 50,000 cycles.

Wessells said that using sodium as a primary mineral alternative eliminates industry-wide issues of worker negligence, geopolitical disruption, and the “questionable environmental impacts” inextricably linked to lithium mining. 

“The electrification of our economy is dependent on the development and production of new, innovative energy storage solutions,” Wessells said. 

Why are sodium batteries a better alternative to lithium?

The birth and death cycle of lithium is shadowed in environmental destruction. The process of extracting lithium pollutes the water, air, and soil, and when it’s eventually discarded, the flammable batteries are prone to bursting into flames and burning out in landfills. 

There’s also a human cost. Lithium-ion materials like cobalt and nickel are not only harder to source and procure, but their supply chains are also overwhelmingly attributed to hazardous working conditions and child labor law violations. 

Sodium, on the other hand, is estimated to be 1,000 times more abundant in the earth’s crust than lithium. 

“Unlike lithium, sodium can be produced from an abundant material: salt,” engineer Casey Crownhart wrote ​​in the MIT Technology Review. “Because the raw ingredients are cheap and widely available, there’s potential for sodium-ion batteries to be significantly less expensive than their lithium-ion counterparts if more companies start making more of them.”

What will these batteries be used for?

Right now, Natron has its focus set on AI models and data storage centers, which consume hefty amounts of energy. In 2023, the MIT Technology Review reported that one AI model can emit more than 626,00 pounds of carbon dioxide equivalent. 

“We expect our battery solutions will be used to power the explosive growth in data centers used for Artificial Intelligence,” said Wendell Brooks, co-CEO of Natron. 

“With the start of commercial-scale production here in Michigan, we are well-positioned to capitalize on the growing demand for efficient, safe, and reliable battery energy storage.”

The fast-charging energy alternative also has limitless potential on a consumer level, and Natron is eying telecommunications and EV fast-charging once it begins servicing AI data storage centers in June. 

On a larger scale, sodium-ion batteries could radically change the manufacturing and production sectors — from housing energy to lower electricity costs in warehouses, to charging backup stations and powering electric vehicles, trucks, forklifts, and so on. 

“I founded Natron because we saw climate change as the defining problem of our time,” Wessells said. “We believe batteries have a role to play.”

-via GoodGoodGood, May 3, 2024

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Note: I wanted to make sure this was legit (scientifically and in general), and I'm happy to report that it really is! x, x, x, x

[procurement-insights]

Are Public Relations and Marketing Professionals Ruining The ProcureTech Industry?

What does a 30-year industry veteran have to say about ProcureTech marketing?

EDITOR’S NOTE: A 30-year industry veteran recently commented on my post about Gartner and McKinsey blocking and/or taking down their posts on LinkedIn after I and others provided our thoughts on the validity of what they were saying. Here is his comment and my corresponding response: Paul Rogers – Jon W. Hansen Is it possible that the job of curating LinkedIn content for McKinsey and Gartner is…

[tamanna31]

Vitamins & Dietary Supplements Procurement Intelligence: Global Market Is Expected to Exhibit CAGR of 8.5% During 2024-2030

Vitamins & Dietary Supplements - Procurement Intelligence

Vitamins & dietary supplements procurement is expected to unlock huge opportunities by harnessing advanced technologies across advanced and emerging economies. The global market size stood at USD 178.5 billion in 2023. Traction for health and wellness is evolving among America consumers as they seek supplements tailored to their needs. Notably, North America dominated the industry in 2023, accounting for 35% of the overall market share, followed by Europe and Asia Pacific.

Meanwhile, Europe is anticipated to witness growth owing to increased consumer awareness of health and the role of supplements in weight control and physical activity as well as their readiness to pursue a healthier lifestyle. The Asia Pacific region is poised to observe the fastest growth rate during the forecasted period. This growth is attributed to increasing consumer awareness & purchasing power along with a rise in the geriatric population in countries such as Japan and China.

Vitamins & dietary supplements are manufactured in several forms, such as tablets, capsules, powders, liquids, and gels. By type, the products are segmented into vitamin subtypes (e.g., A, B, C, D, E, and K), minerals, amino acids, enzymes, and probiotics. The products have end-use applications in pharmaceuticals, nutraceuticals, feed products, foods and beverages, and personal care products. A few of the key raw materials used in manufacturing these products include retinol, carotenoids, thiamin, riboflavin, ascorbic acid, cholecalciferol, calcium carbonate, and magnesium aspartate.

Key technologies driving the growth include nanoencapsulation, biohacking and targeted supplementation, nutrigenomics, 3D printing of capsules, and lab-grown nutrients. For instance, nanoencapsulation provides various benefits, such as improving the stability and solubility of bioactive compounds used in the manufacturing of vitamins and dietary supplements. It also inhibits the deterioration of products during storage and transportation. It also enhances the bioavailability and potency of the target compounds in the products.

Industry players purchase raw materials and active ingredients from a variety of sources and locations. The profit margins are typically moderate to low due to intense competition. The key players usually compete over pricing strategies, product innovations, packaging, labeling, and advertising. Customers can be selective, as their objective is to purchase the best available options at the lowest feasible cost. This increases the pressure on key players to provide competitive pricing and high-quality products. Besides, regulatory guidelines in several countries require companies to have stringent quality control and safety standards.

Vitamins & dietary supplements may either be manufactured in-house or through contract development & manufacturing organizations (CDMOs). They may be distributed via offline or online distribution channels. Offline channels include brick-and-mortar establishments such as direct sellers, pharmacies, hypermarkets, supermarkets, convenience stores, or other tangible shop environments. Online channels comprise e-pharmacies (Walgreens, CVS, PharmEasy) and e-commerce platforms (Amazon, eBay, Flipkart).

The COVID-19 pandemic caused significant disruption in the global vitamins and dietary supplements industry. The product demand intensified after the COVID-19 outbreak, due to the surge in demand for immunity-boosting products. Supply disruptions were prevalent due to transportation bottlenecks and labor shortages during government-imposed lockdowns, but the supply stabilized significantly in 2023 to meet the increased global demand.

Order your copy of the Vitamins & Dietary Supplements Procurement Intelligence report 2024-2030, published by Grand View Research, to get more details regarding day one, quick wins, portfolio analysis, key negotiation strategies of key suppliers, and low-cost/best-cost sourcing analysis

Vitamins & Dietary Supplements Sourcing Intelligence Highlights

The vitamins & dietary supplements market has a fragmented landscape, with intense competition among the service providers.

Countries such as India and China are the preferred low-cost/ best-cost countries for vitamins and dietary supplements owing to cheap raw material costs, cheap labor costs, competitive pricing, and high return on investment.

Buyers have high negotiating power due to the intense competition among the service providers based on the scope of services and prices, enabling the buyers with flexibility to switch to a better alternative.

Raw materials, labor, technology and equipment, energy and utilities, packaging, labeling, and logistics, and other costs are the major cost components of the vitamins & dietary supplements. Other costs include R&D, regulatory and compliance, rent, general and administrative, sales and marketing, and finance and taxes.

List of Key Suppliers

Abbott Laboratories

Amway Corporation

Archer Daniels Midland Company (ADM)

BASF SE

Bayer AG

DSM Nutritional Products AG

GlaxoSmithKline plc (GSK)

Herbalife International, Inc.

Lonza Group Limited

Pfizer, Inc.

American Health Inc.

RBK Nutraceuticals Pty Ltd.

Browse through Grand View Research’s collection of procurement intelligence studies:

Advertising Services Procurement Intelligence Report, 2023 - 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)

Corn Procurement Intelligence Report, 2023 - 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)

Digital Procurement Systems Procurement Intelligence Report, 2023 - 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)

Vitamins & Dietary Supplements Procurement Intelligence Report Scope

Vitamins & Dietary Supplements Category Growth Rate: CAGR of 8.5% from 2024 to 2030

Pricing Growth Outlook: 5% - 10% increase (Annually)

Pricing Models: Cost-plus pricing, competition-based pricing, demand-based pricing, bundled pricing

Supplier Selection Scope: Cost and pricing, past engagements, productivity, geographical presence

Supplier Selection Criteria: Geographical service provision, revenue generated, key regulatory certifications, years in service, employee strength, clientele, product portfolio, key technologies, distribution channels, application/end-use, customer ratings, and others.

Report Coverage: Revenue forecast, supplier ranking, supplier matrix, emerging technology, pricing models, cost structure, competitive landscape, growth factors, trends, engagement, and operating model

[strategic-consulting-firms-uae]

Future of Consulting Business

Businesses are adapting to a rapidly changing global landscape, which is undergoing a revolutionary transition within the consulting sector. The future success of consultants depends on their ability to embrace innovation and manage change in the face of changing client expectations, technological improvements, and developing market trends. In this blog article, we'll look at the major trends influencing the consulting industry's future and talk about how consultants can stay competitive in this fast-paced environment.

Embracing Digital Transformation

Industry after industry is being transformed by digital technology, and consulting is no exception. Embracing digital transformation is essential for consultants who want to provide better services. This involves utilizing automation, machine learning, artificial intelligence (AI), data analytics, and data to gather insights, streamline procedures, and provide clients with data-driven suggestions.

Focus on Industry Specialization

As industries become increasingly specialized and complicated, consultants must gain in-depth domain knowledge. Clients prefer experts who are knowledgeable about the problems unique to their sector and who can provide specialized solutions. Future consultants will have a competitive edge if they focus on specialty markets or developing industries.

Agile and Collaborative Approach

More agile and collaborative methods are replacing traditional consulting arrangements. Clients expect consultants to collaborate closely with their teams, jointly develop solutions, and offer constant support. Consulting businesses will need to have cross-functional team structures, remote work options, and collaboration technologies.

Shift Towards Strategic Partnerships

Clients are increasingly looking for long-term strategic relationships rather than consulting firms for temporary initiatives. As a result, consultants may have a thorough grasp of the client's business and offer continuous help and direction. Consulting businesses will need to focus on developing long-term partnerships and providing value.

Sustainability and Social Impact Consulting

New opportunities for consultants are created by the increasing emphasis on sustainability and corporate social responsibility. Businesses are looking for advice on how to implement sustainable practices, deal with societal problems, and assess their effects. Social impact strategies and sustainability consulting specialists will be in great demand.

Talent and Skill Development

Beyond conventional business knowledge, a varied skill set is needed for the future of consulting. Expertise in fields like data analytics, artificial intelligence, design thinking, change management, and cultural intelligence will be required of consultants. To be relevant in a market that is changing quickly, consulting companies must make investments in personnel development and continual learning.

Globalization and Remote Consulting

Technology developments and the ability to operate remotely have made consulting a worldwide profession. To collaborate with customers, consultants may do so from anywhere on the globe, removing geographical restrictions. This creates new clientele and business prospects for consulting organizations, but it also necessitates a global perspective and sensitivity to cultural differences.

Conclusion Those who are flexible and open to change will find plenty of opportunities in the dynamic future of the consulting industry. Consulting firms can navigate the shifting landscape and offer high-value solutions to their clients by embracing digital transformation, specializing in niche industries, adopting agile approaches, building strategic partnerships, addressing sustainability challenges, developing diverse skill sets, and placing a priority on ethical practices. If you are looking for the top strategic consulting firms in the UAE, you can connect with us here. We have a professional team offering you the best consulting services.