Purchasing Trends and Intentions in Mining in North America, 2015

Deerfield Beach, FL -- (SBWire) -- 08/03/2015 --Synopsis

This report provides a detailed analysis of purchasing methods and spending trends in North American mining. Areas of analysis include:

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- 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.

- Current methods for acquiring equipment, with a review of outright purchasing, rental, leasing and other types of financing arrangements.

- 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.

- Analysis of current decision making practices at North American mines

- The extent to which preferred supplier arrangements are in place and predictions for increased centralisation of procurement.

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Summary

Overall trends in the data revealed:

- Respondents from mines in North America expect stability in their expenditure. The majority of respondents expect spending to be flat, for instance 56% for 'plant and heavy equipment'

- Outright purchase is the most common purchasing method. Some 69% of respondents nominated outright purchase as the method they use for heavy mining equipment. This was the dominant method of procurement, with all other methods being used by fewer than 27% of respondents in each case.

- 67% of respondents identified that their biggest challenge when sourcing products were factors related to supplier attributes and capabilities, such as the availability of spare parts and dealing with remote locations.

- In North America, the majority of decisions are still made at the mine site, accounting for around 65% of all final decisions.

- Over 28% of respondents expected more centralization of purchasing decisions over the next two years.

- Some 55% of respondents indicated they had a preferred global supply agreement, and when responses were broken down by type of purchase covered by the preferred supplier, trucks dominated.

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