Asian Purchasing Trends and Intentions Mining Industry 2015 Key Trends, Forecast, Analysis
Deerfield Beach, FL -- (SBWIRE) -- 08/25/2015 -- Synopsis
There is a focus on procurement methods and expenditure analysis is broken down into four areas. The analysis is based on Timetric's extensive survey of 115 mine managers, procurement managers and other key decision-makers.
Areas of analysis include:
- Current methods for acquiring equipment, with a review of outright purchasing, rental, leasing and other types of financing arrangement.
- Future trends in expenditure and expectations for increased or decreased spend in four areas: plant and heavy equipment, equipment parts and components, explosives materials, and maintenance services.
- An analysis of future changes to the number of supplier relationships, and whether respondents expect greater or fewer supplier relationships over the next 12 months.
- Investigation into the biggest challenges facing buyers and decision makers in sourcing the right products.
- The extent to which preferred supplier arrangements are in place, and predictions for increased centralisation of procurement.
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Overall trends in the data revealed:
- Outright purchase is the most common purchasing method
- Asian miners are optimistic about future expenditure
- Challenges in sourcing products are primarily related to supplier attributes and capabilities
- Asian miners are increasing their levels of procurement centralization
The survey is based on responses from 115 senior managers and decision makers at operating Asian mines, responsible for the purchase of equipment for plant and mine operations, along with its consumables. Survey respondents came from seven different countries: India, Indonesia, the Philippines, Pakistan, Vietnam, Mongolia and Thailand. This included six different commodity groups and a range of surface and underground mining operations.
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Reasons To Buy
- Compare the methods Asian miners use to acquire equipment, and how this is expected to change.
- Plan ahead based on general expectations within the Asian mining industry for future expenditure, and how this varies by segment, such as mine type, commodity and company size.
- Understand how different customer segments in Asian mining plan to rationalize or extend their supplier networks.
- Identify the major challenges Asian miners face when sourcing equipment, and incorporate solutions to these in your sales, marketing and product strategies.
- Outright purchase is the most common purchasing method for mining equipment, used by 52% of respondents.
- Asian miners are optimistic about future expenditure, with the majority of respondents expecting expenditure to increase across all four categories of plant, equipment, consumables and services investigated.
- Some 67% of respondents identified that their biggest challenges when sourcing products were factors related to supplier capabilities, such as availability of parts and on-time delivery.
- Some 52% of respondents expect greater centralization of procurement over the next two years.
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