The latest report found on WiseGuy Reports (WGR) has given an informative overview of the industry with a short explanation. This overview provides information about the product/service, the primary applications of this product/service, and its end-users. It also mentions different production and management technologies and technological developments for the same. The global Procurement Outsourcing market report found on WiseGuy Reports (WGR) has discussed the market in depth. The report has also mentioned different industry trends, market dynamics, competitive landscape, and a detailed analysis of the market based on various regional segments for the forecast period of 2019 to 2025.
This report studies the global Procurement Outsourcing market size, industry status and forecast, competition landscape and growth opportunity. This research report categorizes the global Procurement Outsourcing market by companies, region, type and end-use industry.
Procure to pay (purchase to pay or P2P) is the process of obtaining and managing the raw materials needed for manufacturing a product or providing a service. It involves the transactional flow of data that is sent to a supplier as well as the data that surrounds the fulfillment of the actual order and payment for the product or service, the transfer of specified key procurement activities relating to sourcing and supplier management to a third party — perhaps to reduce overall costs or maybe to tighten the company’s focus on its core competencies. Procurement categorisation and vendor management of indirect materials and services (commonly referred to as Indirect procurement) are typically the most popular outsourced activity.
Cost reduction is the top priority for CPOs as they look to sustain business growth in a slowing market.
Demand for impactful procurement continues to run high, both in terms of managing cost as well as unleashing the potential of the supply market to differentiate business performance. However the traditional constraints of manpower, expertise, and policy driven process are inhibiting.
Cycle times need to be shorter, insight needs to be richer and more agile, and performance needs to be more transparent and efficient.
Whether it’s cognitive analytics to redefine scenario analysis, crowdsourcing to improve reach and creativity, or mobile analytics to unlock real-time performance management, the potential for these digital solutions to transform the procurement value proposition is considerable. Digital solutions should be embraced by CPOs and harnessed to greatly improve the function’s accuracy, speed of execution, and relevance to the greatest business challenges.
In 2017, the global Procurement Outsourcing market size was 2820 million US$ and it is expected to reach 6830 million US$ by the end of 2025, with a CAGR of 11.7% during 2018-2025.
This report focuses on the global top players, covered
The report on WGR has included a detailed study of the Procurement Outsourcing market for various segments that are based on different aspects such as types, application, end-user, and region, among others. This analysis is provided to enable the reader to gain a better insight into the market. Such regional analysis has been carried out for the segments of Asia Pacific (APAC), North America, Latin America, Europe, and the Middle East & Africa (MEA).
Market segment by Type, the product can be split into
Market segment by Application, split into
CPG and Retail
The report has explored several factors that are attributable to the accelerated growth noted in the global Procurement Outsourcing market. This includes various volume trends, pricing history of the product/service, and the value of this product/service. Some prominent factors contributing to the ascension of the global Procurement Outsourcing market include a mounting worldwide population, fast-paced technological innovations noted in the market, and the demand and supply dynamics influencing the growth of the market. Other than that, the report has discussed various policies introduced by the government that are either in favor of or against the upscaling of the market. Alternatively, the global Procurement Outsourcing market has been studied for different restraints that are hindering the growth during the forecast period of 2019 to 2025.
Table of Contents
Global Procurement Outsourcing Market Size, Status and Forecast 2025
1 Industry Overview of Procurement Outsourcing
1.1 Procurement Outsourcing Market Overview
1.1.1 Procurement Outsourcing Product Scope
1.1.2 Market Status and Outlook
1.2 Global Procurement Outsourcing Market Size and Analysis by Regions (2013-2018)
1.2.1 United States
1.2.5 Southeast Asia
1.3 Procurement Outsourcing Market by Type
1.3.1 Direct Procurement
1.3.2 Indirect Procurement
1.4 Procurement Outsourcing Market by End Users/Application
1.4.1 CPG and Retail
1.4.2 BFSI Sector
3 Company (Top Players) Profiles
3.1.1 Company Profile
3.1.2 Main Business/Business Overview
3.1.3 Products, Services and Solutions
3.1.4 Procurement Outsourcing Revenue (Million USD) (2013-2018)
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