Industry Analysis & Industry Trends
The Procurement Outsourcing Services industry is expected to grow moderately during the five years through 2014-15, even though economic conditions were weak for much of the period. This is mainly because firms chose to outsource in order to improve cost efficiencies when operating conditions were difficult. Demand from public sector organisations increased because of pressures on public spending. In addition, rising IT and telecommunications adoption made it easier to outsource procurement-related activities. However, weak capital expenditure, lower procurement volumes and a fall in the number of firms operating in United Kingdom at the start of the period constrained demand for the industry's services. Industry revenue is projected to grow at a compound annual rate of 3.6%... purchase to read more
Industry Report - Starting a New Business Chapter
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, since companies' supply chains are becoming increasingly globalised. Potential entrants need to understand overseas and domestic regulations surrounding import and export of goods... purchase to read more