LONDON–Global procurement intelligence advisory firm, SpendEdge, has announced the release of their ‘Global Beef Procurement Research Report.’ The insights and data in this report provide a strategic analysis of the supply markets, factors influencing purchasing decisions, procurement best practices, pricing models, supplier landscape, and an analysis of the supplier capability matrix for the agro commodities and raw materials industry. This report breaks down the data and analysis behind the procurement of beef and acts as an all-inclusive guide for making smart purchasing decisions.
“The increasing consumption of meat-based products in developing economies mainly by fast food or dine outs is driving the global beef demand,” says SpendEdge procurement analyst A Kowshik. “ Reduced prices of beef will increase the consumption even further in developing economies such as China and India where meat packers are facing diminishing profit margins,” added Kowshik.
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Key Report Features
|Supply Market Insights||Negotiation Strategies|
|Procurement Best Practices||Category Risk Analysis|
|Cost Saving Opportunities||Key Supplier Analysis|
|Pricing Models||Supplier Capability Matrix|
- The growth of the global beef market can be attributed to the growing demand for organic beef due to increased awareness and health consciousness, especially in mature markets such as North America and Europe. In these markets, organic beef is being used to brand products, including burgers, as organic burgers by fast food chains such as McDonalds entice new customer segments.
- The buyers should engage with suppliers that provide transparency into cattle feeding and cattle nutrition management plans. Nutrition management plans are organized plans that specify the quantity of nutrients that is fed to livestock. Therefore the buyers should look for suppliers that strictly use these nutrition plans or source from feedlots where these standard nutrition plans are followed.
- One of the key challenges faced by the buyers includes challenges in identifying suppliers who adhere to regional safety and health regulations. To overcome this challenge, the buyers should engage with suppliers that have a track record of strictly following all regulations and have never been accused of defaulting on any regulations.
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Beef Market Pricing Trends
Volume-based pricing is the only adopted pricing model in the beef industry. It allows buyers to demand lower prices when the quantity of purchase is high. This pricing model also protects the buyers in case of fluctuations in prices of raw materials due to fixed pricing as per the contract. The disadvantage is that; volume-based purchases may be expensive for buyers when the quantity of purchase is low.
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