Industry Analysis & Industry Trends
Firms in the Procurement Outsourcing Services industry manage part or all of a company's procurement process. This can range from transactional services, like processing purchase orders, to sourcing and maintaining relationships with suppliers. Many companies use the industry's services for indirect procurement, to acquire items or services that a company considers non-core to their business, such as travel management, as they have less experience in buying these services than industry players. Downstream markets, which range from large manufacturers, government agencies and small retailers, also hire procurement outsourcers for direct procurement – the purchase of key inputs for their production process... purchase to read more
Industry Report - Starting a New Business Chapter
The industry's barriers to entry are moderate and the trend is expected to be steady. The industry is largely self-regulated, which means that compliance-related barriers to entry are low. Other barriers to entry are considerable, however, and relate to the need for industry participants to establish credibility with clients. For example, potential new entrants need to be able to attract appropriately qualified staff, often with niche knowledge relating to the major markets an enterprise hopes to target.
Connections to international networks for procurement are also critical, as the supply chains of Australian companies become increasingly globalised... purchase to read more