LONDON--(EON: Enhanced Online News)--According to the latest procurement intelligence report from Technavio, the global office supplies market is expected to grow at a CAGR of more than 3% over the next five years due to the expansion of business and increased usage of paper-based products in regions like India, China, and Brazil.
“The supply market is going through a market shift, wherein suppliers are using sustainable raw materials that have a low carbon footprint and are recycled or remanufactured from post-consumer products”
The research report titled ‘Global Office Supplies: Procurement Intelligence Report 2017-2021’ provides an in-depth analysis of category spend, best procurement practices and cost saving opportunities, aimed at helping organizations achieve superior business performance. The report also provides insights on pricing, supplier positioning, and top companies, enabling sourcing professionals to improve their competitive advantage through procurement excellence.
“The supply market is going through a market shift, wherein suppliers are using sustainable raw materials that have a low carbon footprint and are recycled or remanufactured from post-consumer products,” said lead Technavio procurement expert Angad Singh for category spend intelligence research. “In the next 2–3 years, brick-and-mortar retailers are planning to reduce the number of retail stores and increase their online presence to compete with online channels,” added Angad.
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Cost saving opportunities in the office supplies market
The adoption of various cost-optimization levers helps buyers of office supplies realize direct cost savings and enhance category management and value benefits (including reduced procurement complexities).
Technavio procurement experts have segmented the cost saving opportunities in the office supplies market into the following value-enhancement opportunities:
- Adoption of technology
- Supplier Competition
- Adoption of negotiation strategies
- Optimization of procurement practices
- Bundling of services
Adoption of technology saving aspects
Technologies such as indestructible screens are made of lightweight plastic screens that can be flexed and folded without damage and consume relatively less power.
Dispensing machines reduce the manual effort required to supply the items and allows buyers to analyze the usage of different products, while digital projection systems like wireless projectors utilize built-in wireless cards, USB dongles, software applications, or Wi-Fi networks to display presentations and documents stored in electronic devices.
Optimization of procurement practices saving aspects
Buyers prefer to engage with suppliers that can help achieve cost savings via volume discounts for the guaranteed order quantities or price incentives for online payments.
The use of online systems has led to benefits such as easy navigation and search capabilities on e-catalogs, reduced time on processing orders, improved tracking and monitoring capabilities, and increased availability of up-to-date product information.
Bundling of services saving aspects
One of the best strategic cost-saving levers of the office supplies market is the bundled purchasing of office supplies with recycling and green disposal programs.
The need to reduce carbon footprint and increased emphasis on issues concerning deforestation have led to growing preference for green products that include recycled content and have environmental certifications.
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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