According to the latest procurement intelligence report from Technavio, the global MRO personal protective equipment (PPE) market is expected to grow at a CAGR of 6.1% over the next five years due to increased manufacturing and infrastructure activities across the world.
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Technavio has published a new report on the global MRO PPE market from 2016-2020. (Photo: Business Wire)
The research report titled ‘Global MRO PPE Market 2016-2020: Procurement Intelligence Report 2016-2020’ 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.
“During the forecast period, the expansion and penetration of the global PPE market are increasing through the integration of technological innovations and low-cost, sustainable products,” says lead Technavio procurement specialist Angad Singh for category spend intelligence. “In addition, growing demand from the increasing infrastructure activities in growing economies, will drive the market,” adds Angad.
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Cost saving opportunities in the MRO PPE market
The adoption of various cost-optimization levers helps buyers of MRO PPE 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 global MRO PPE 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
The increasing adoption of technology in the form of wearables, sensors and Bluetooth integration to monitor changes in temperature and workplace environment will help to realize cost-saving to the extent of 6%. These technologies ensure that the work place is secure against accidents and they also cater to the safety and protection of the workers. Buyers prefer to engage with suppliers who provide quality equipment that is regulation compliant.
Adoption of negotiation strategies saving aspects
Factors such as on-site assistance, training and education of workers, customization of the PPE, and extended warranty of the PPE can be used for negotiating strategic opportunities.
Several large organizations are looking to interact with suppliers who offer quality equipment, that is regulation compliant. Some suppliers also provide after-sales and maintenance services, such as changing of filters of respiratory devices, etc., which helps to attract buyers.
Bundling of services saving aspects
One of the most opportunistic strategic cost saving levers in the global MRO PPE market is the need for consolidation of PPE-related services such as hazard measurement, training and assistance for customized PPE, and devising of a protection strategy based on workplace safety requirements.
Training should be provided to supervisors and employees to enable them to ensure proper selection, fit, use, cleaning, and maintenance of PPE. Employees who are required to use PPE should be trained about the importance of their usage, alternative choices, adjustments, storage, and disposal.
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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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