The report identifies BP Plc, Royal Dutch Shell Plc, and Exxon Mobil Corp. among the top most important suppliers for transmission fluids procurement. Suppliers have a moderate bargaining power in a market that is set to grow at 4.10%. Therefore the price of transmission fluids will increase by 3%-5% during the forecast period.
Several strategic and tactical negotiation levers are explained in the report to help buyers achieve the best prices for transmission fluids. The report also aids buyers with relevant transmission fluids pricing levels, pros and cons of prevalent pricing models such as contract-based pricing and cost-plus pricing and category management strategies and best practices to fulfill their category objectives.
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Transmission Fluids Procurement: Strategies and Category Management
A targeted strategic approach to transmission fluids sourcing can unlock several opportunities for buyers. Still, we see that buyers have a pre-dominantly transaction-based approach towards the category and miss out on cost-saving opportunities in the absence of actionable intelligence on transmission fluids procurement market.
Strategic Sourcing and Enablers
During our interactions with category managers, it is often cited that buyers have a moderate bargaining power in the transmission fluids market. Our sourcing experts believe that a holistic category management approach can help buyers further maximize the value on their transmission fluids procurement. The report explains key category management objectives that should form the base for transmission fluids sourcing strategy, including:
Green initiatives
Cost savings
Supply base rationalization
Scalability of inputs
Customer retention
Supply assurance
Top-line growth
Demand forecasting and governance
Minimalization of ad hoc purchases
Reduction of TCO
Category innovations
Adherence to regulatory nuances
In addition to identifying the strategic goals and initiatives for the category management, it is also important to create the necessary support structure to facilitate their implementation. The report identifies multiple enablers that can help maximize the efficiency of transmission fluids category management.