LONDON–(BUSINESS WIRE)–SpendEdge, a global procurement market intelligence firm, has announced the release of its Global Barcode Scanner Market – Procurement Intelligence Report.
Despite predictions of spend growth at a CAGR of over 5% through 2024, challenges during category management will significantly impact buyer’s ROI in the barcode scanner market. Compatibility issue is one of such prominent challenges that buyers are failing to address in the barcode scanner market. The misplaced focus on quantity and competitive pricing are driving buyers to procure this product in bundled packages without assessing the product compatibility with their existing business requirements and infrastructure.
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To address the challenge discussed above, buyers are advised to first determine the product compatibility with their existing software and IT applications prior to procurement. Buyers must ensure that if suppliers offer products with proprietary platforms to support devices, then the supplier must provide a software development kit that will help buyers develop appropriate applications based on the requirement.
What do the barcode scanner price trends indicate?
- The possibilities of an increase in the price of input materials such as plastic, aluminum, and steel will add to suppliers’ manufacturing costs. According to the barcode scanner price trends, this will have an inflationary impact on the buyer’s procurement spend.
- The manufacturing of the barcode scanner is an energy-intensive process which means that the steady rise in energy prices in various countries will increase the OPEX incurred by barcode scanners suppliers.
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How to identify barcode scanner suppliers who can cater to your procurement needs while adding value to your business?
Suppliers play prominent roles in aiding buyers to secure sustainable category management even in markets that are ruled by frequent dynamism. With their industry-specific knowledge, they are well-acquainted with the cost-saving avenues and the potential risks which they pass on to the buyers who seek cost-effective procurement in markets.
Prefer local sourcing from global barcode scanner suppliers
In the barcode scanner market, it is prudent of buyers to opt for local sourcing from global suppliers during procurement. This will reduce the distance to deliver, thereby reducing transportation costs. It will offer buyers easy access to depots for repair services and increase the possibility of procuring additional devices during peak demand with shorter lead times.
Assess the technological capabilities
Barcode scanner suppliers are expected to offer products with the latest technology such as the incorporation of 2D imagers and products that can be upgraded to the latest technologies without replacing the device. This will help buyers to improve the operational efficiency of their organization and obtain a competitive edge in the market due to the adoption of appropriate strategies based on the data obtained using advanced barcode technology.
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Some of the key topics covered in this report are:
- Barcode scanner market spend segmentation by region
- Total cost of ownership analysis in the barcode scanner market
- Regional spend opportunity for barcode scanner suppliers
- Barcode scanner suppliers cost structure
- Barcode scanner suppliers selection criteria
- Barcode scanner suppliers under coverage
- Procurement best practices
- Category management objectives
- Cost saving opportunities in the barcode scanner market
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