Daten aus dem Cache geladen. Procurement Outsourcing Market is driven by Need of cost...

Procurement Outsourcing Market is driven by Need of cost optimization

0
778

Procurement outsourcing refers to the process of outsourcing procurement activities related to sourcing, purchasing, and expediting non-core business materials and services to a third-party service provider to gain expertise and reduce costs. Key advantages of procurement outsourcing include saving costs on procurement headcounts, operations, and infrastructure; improving service quality through dedicated expertise; and gaining insights into market conditions and developing strategies. The growing needs for organizations to focus on their core competencies and enhance supply chain visibility is increasing the demand for procurement outsourcing services globally.

The Global Procurement Outsourcing Market is estimated to be valued at US$ 25.15 Bn in 2024 and is expected to exhibit a CAGR of 8.9% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the Procurement Outsourcing are 3M, Cardinal Health, Smith+Nephew, Genadyne, DeRoyal Industries, Inc., Medela AG, Convatec Inc., Mölnlycke Health Care AB, PAUL HARTMANN AG, ATMOS MedizinTechnik GmbH & Co. KG, Talley Group Ltd, Cork Medical, LLC, and Devon Medical Products. Major key players are focusing on enhancing their service capabilities through strategic acquisitions and partnerships.

The growing demand for centralized procurement operations to gain sustainability and visibility across global supply chains is one of the major factors driving the growth of the procurement outsourcing market. Organizations are increasingly outsourcing procurement activities to third-party vendors to benefit from their domain expertise and global sourcing network.

The Procurement Outsourcing Market Size  is witnessing significant growth in regions like Asia Pacific and Middle East & Africa. Rapid industrialization and growth of end-use industries in developing countries are creating substantial opportunities for procurement outsourcing vendors looking to expand globally.

Market Drivers

The need for cost optimization is a key driver propelling the procurement outsourcing market growth. Outsourcing procurement activities allows organizations to reduce procurement operating costs through economies of scale benefits with third-party expert providers. It helps in gaining access to advanced procurement technologies, global sourcing capabilities and process efficiencies leading to significant overall cost savings. This is encouraging more companies to rely on procurement outsourcing.

Get more insights on - Procurement Outsourcing Market

Explore Related Articles- Machine Learning As A Service (Mlaas) Market

 

Rechercher
Catégories
Lire la suite
Autre
Health Insurance Market, Size Anticipated to Observe Growth at a Steady Rate of 4.6% for the Study Period 2030
Health Insurance Market Analysis and Size Increasing costs for medical services and the...
Par Sakshi Farkade 2023-12-14 06:54:12 0 1K
Autre
Market Dynamics: Supply Chain Challenges in the Antimicrobial Coatings Market
The antimicrobial coatings market comprises coatings that are applied on various surfaces to...
Par Jack Smith 2024-10-24 12:00:03 0 161
Autre
Canned Tomatoes: A Convenient and Versatile Ingredient
Tomatoes are one of the most versatile vegetables used in cooking. While fresh tomatoes have...
Par Dhanashri Patil 2024-02-07 07:12:17 0 1K
Health
Orthopedic Braces and Supports Market Size, Industry & Landscape Outlook, Revenue Growth Analysis to 2032
The Global Orthopedic Braces And Supports Market has been experiencing significant growth and is...
Par Ava Jones 2023-06-07 05:05:19 0 2K
Health
Buy Vyvanse Online To Improve Attention Of Your Child
You can conveniently Order Vyvanse Online in different formulations, including fast-acting and...
Par Levi Jonn 11 2024-02-12 12:47:33 0 1K