Unleashing Innovation in Order Fulfillment Procurement Intelligence

The order fulfillment category is anticipated to grow at a CAGR of 10% from 2023 to 2030. The rising online retail sales each year have resulted in rapid growth in the e-commerce industry and an increasing number of businesses preferring to sell their products digitally. This, in turn, has influenced the logistics landscape globally, along with fulfillment providers focusing on providing the best services throughout the process right from picking an order to delivering it to the end consumer. Trends such as fulfillment center automation, personalization, sustainability, and Omni channel fulfillment are driving the growth of the category.

Automation in fulfillment centers and implementing robotics can increase accuracy and processing speed. These systems can take over repetitive tasks and reduce the likelihood of human error. Automation in processes such as picking, shipping, labelling, inventory management, back-office operations, and others can transform the entire fulfillment process. It can also increase customer satisfaction, drive sales, and cut back on labor costs.

To establish an order fulfillment process that is both environmentally sustainable and eco-friendly, service providers are integrating eco-conscious practices and cutting-edge technologies into their operations. This can mitigate environmental impact, enhance operational efficiency, and bolster reputation. For instance, renewable energy sources like hydropower, wind, or solar can be used to power warehouse and logistics operations by installing energy-efficient lighting, cooling and heating systems, and using smart devices. Fulfillment companies are also opting for reusing or donating surplus or damaged inventory instead of discarding it, thus promoting a more sustainable approach.

Online consumers also want retailers to ship their orders in a sustainable way and are ready to wait longer or pay extra for their orders. For instance, according to the Digital Commerce 360 report 2023, 76% of shoppers say they are ready to pay 5% extra for sustainable packaging. This has led to the growth in focus towards sustainable packaging.

Service providers are seeking solutions for last-mile delivery which is a crucial challenge for companies. To overcome this, service providers are coming up with solutions such as using micro-fulfillment centers in which the product is delivered more efficiently and faster through the stores located close to the end-consumer. Additionally, allowing consumers to retrieve packages at their own convenience through delivery lockers, and click-and-collect points.

Order your copy of the Order Fulfillment Procurement Intelligence Report, 2023 - 2030, published by Grand View Research, to get more details regarding day one, quick wins, portfolio analysis, key negotiation strategies of key suppliers, and low-cost/best-cost sourcing analysis

Labor, inventory storage costs, transportation, maintenance, conveyor and sortation equipment, and others are some of the cost components incurred in providing services. Other costs include utilities, insurance, and legal costs. The cost varies depending on the size and weight of the product, and the urgency and distance of delivering the product. Labor, inventory storage, and transportation costs are some of the major cost components. Due to the restricted space in warehouses, service providers charge for each square foot that the goods occupy. The larger the product, the more consumers will have to pay. The picking and packing fee can range from around USD 3 to USD 5 per item.

The category is fragmented in nature with the presence of numerous players providing services to businesses from small scale to large scale. Large companies such as Amazon and FedEx have a separate fulfillment division such as FBA by Amazon and FedEx fulfilment due to the significant growth in e-commerce. According to Walker Sands' 2023 report, as Amazon has gained a dominant position as the distributor of choice, effective order fulfillment has become increasingly crucial. Only 15% of the customers believed that most online retailers fulfil their delivery needs while 30% of consumers believe that Amazon already does. Specialized fulfillment companies are increasing their investments in creating an integrated platform that has multiple integrations such as, Shopify, EBay, Oracle NetSuite, or TikTok Shop. Suppliers are also shifting their focus from single-channel to omni-channel fulfillment which automates, simplifies, and speeds up fulfillment activities. Buyers of the services such as retailers and industrial distributors have moderate bargaining power as they can choose from multiple service providers.

Under sourcing intelligence, buyers also outsource their entire fulfillment service right from picking, packing, storing, labelling, and shipping of the product. Service providers are providing additional services to sustain in the market. For instance, through Amazon FBA service that stores, packs, and ships the order, also provides service to users by making their products appear in the prime listings and they would also be eligible for fast shipping. When seeking service providers, businesses assess suppliers based on the time taken by them to fulfill the order, services related to managing their inventory, how safely are the products handled, and providing end-to-end services. Buyers also seek transparency in the order status, and whether firms adhere to the standards and guidelines.

On the other hand, service providers have a complete in-house team that carries out complete activities from picking the products, managing them in the warehouse, labelling during orders, and shipping them to the customer. Buyers outsource the services to eliminate the burden of looking out for customers, packing the product in suitable boxes, managing complex operations, printing labels, and carrying it to customers. 

Browse through Grand View Research’s collection of procurement intelligence studies:

• Automotive Sensors Procurement Intelligence Report, 2023 - 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)

• Shipping Containers Procurement Intelligence Report, 2023 - 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)

Order Fulfillment Procurement Intelligence Report Scope

• Order Fulfillment Category Growth Rate: CAGR of 10% from 2023 to 2030

• Pricing growth Outlook:  3% - 5% (annual)

• Pricing Models: Service-based pricing, competition-based pricing

• Supplier Selection Scope: Cost and pricing, past engagements, productivity, geographical presence

• Supplier selection criteria: Service provided, time taken to fulfill order, product handling, transparency in order status, customization option, client relationship, track record and reputation, regulatory compliance, and others

• Report Coverage: Revenue forecast, supplier ranking, supplier matrix, emerging technology, pricing models, cost structure, competitive landscape, growth factors, trends, engagement, and operating model

Key companies 

• Amazon

• ShipBob

• FedEx

• Shipwire

• Shiphero

• Deliverr

• ShipMonk

• eFulfillment Service

• Red Stag Fulfillment

• Fulfillment.com

Brief about Pipeline by Grand View Research:

A smart and effective supply chain is essential for growth in any organization. Pipeline division at Grand View Research provides detailed insights on every aspect of supply chain, which helps in efficient procurement decisions.

Our services include (not limited to):

• Market Intelligence involving – market size and forecast, growth factors, and driving trends

• Price and Cost Intelligence – pricing models adopted for the category, total cost of ownerships

• Supplier Intelligence – rich insight on supplier landscape, and identifies suppliers who are dominating, emerging, lounging, and specializing

• Sourcing / Procurement Intelligence – best practices followed in the industry, identifying standard KPIs and SLAs, peer analysis, negotiation strategies to be utilized with the suppliers, and best suited countries for sourcing to minimize supply chain disruptions

Driving Innovation in Healthcare: Patient Engagement Solutions Procurement Intelligence

The patient engagement solutions category is anticipated to witness growth at a CAGR of 17.7% from 2023 to 2030. In 2022, North America held a substantial share in the global category, followed by Europe and Asia Pacific. North America’s dominance is mainly due to the increased incidences of chronic diseases, the need to reduce healthcare costs, and favorable government efforts and regulations. The region is led by the U.S. which has a complicated healthcare system with a ton of paperwork and a set of procedures for the commercialization of medical devices and treatments. Europe holds the second-largest share due to publicly supported programs like the National Health Service (NHS) in the United Kingdom. The Asia Pacific region is anticipated to witness a decent growth rate with the presence of profitable growth prospects for the healthcare sector, such as improved care quality and healthcare infrastructure.

Based on end-usage, the healthcare providers segment holds the largest share of revenue. Healthcare providers are the first choice for consultation on anything from general to specialized medical issues in addition to treating the greatest number of patients. Therefore, these end-users are the ones who use patient engagement solutions the most. Based on mode of delivery, the web / cloud-based segment holds the largest share. Increased usage of these solutions is fueled by their integrated features, convenience of use, low cost of handling, simple data backup, and remote access to real-time data tracking. Healthcare businesses are investing more in web and cloud-based patient engagement solutions for the reasons outlined above. For instance, Microsoft released Cloud for Healthcare, in 2020, which seeks to improve patient involvement and teamwork inside healthcare organizations with the use of data analytics and telemedicine capabilities.

Technologies such as wearables and optimized online touchpoints are gaining significant popularity in the industry. Despite having few concerns attached with it pertaining to legal and privacy, wearables offer significant potential for the healthcare sector. The technology can track vital signs like heart rate and blood pressure, and some of them can even make predictions. It gives doctors a useful point of reference when talking with patients about particular physiological and biochemical data and their meanings. In addition, the technology motivate patients to take charge of their health and participate in it. A hospital or clinic is seen as the patient's informed healthcare provider when it provides a smooth, tailored experience that helps patients recognize and trust its brand. This will enable patients to regularly interact with them (hospital / clinic) as their go-to source for trustworthy information and treatment, which will increase patient retention.

Order your copy of the Patient Engagement Solutions Procurement Intelligence Report, 2023 - 2030, published by Grand View Research, to get more details regarding day one, quick wins, portfolio analysis, key negotiation strategies of key suppliers, and low-cost/best-cost sourcing analysis

The importance of virtual patient participation has been emphasized after the outbreak of the COVID-19 pandemic, prompting a change in strategy from traditional methods to the use of virtual modes for patient involvement in clinical trials and healthcare delivery. Patient engagement software has been implemented by several healthcare facilities to improve communication and promote a positive relationship between patients and clinicians. At the same time, several chronic diseases that affect a large section of the population, such as cardiovascular disorders and diabetes have become much more common. Hence, the patients suffering from these diseases need to be constantly in touch with their respective healthcare service providers to report issues or seek help in case of any emergency which is fulfilled by the solutions offered in the category.

Patient Engagement Solutions Sourcing Intelligence Highlights

• The patient engagement solutions category exhibits a fragmented landscape with intense competition among the industry players.

• Buyers in the category possess high negotiating capability due to the intense competition among the suppliers, enabling the buyers with the flexibility to switch to a better alternative.

• India is the preferred low-cost/best-cost country for sourcing patient engagement solutions suppliers. The nation is one of the most well-known for its affordable software development costs for healthcare.

• License cost/subscription fee, personnel, maintenance & upgradation, training & certification costs, and support constitute the total cost of ownership for patient engagement solutions category. Other costs can be further bifurcated into utility costs, administrative expenses, renewal costs, data migration costs, and security.

Browse through Grand View Research’s collection of procurement intelligence studies:

• Clinical Research Organizations Procurement Intelligence Report, 2023 - 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)

• Health and Wellness Management Services Procurement Intelligence Report, 2023 - 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)

List of Key Suppliers 

• Athenahealth, Inc.

• GetWellNetwork, Inc.

• Infomedia Group, Inc. (d.b.a Carenet Healthcare Services)

• Innovaccer Inc.

• International Business Machines Corp. (IBM Phytel)

• IQVIA Inc.

• Lincor, Inc.

• McKesson Corporation

• Medisys, Inc.

• Oracle Corporation (Oracle Cerner)

• Orion Health Group Limited

• PatientPoint Network Solutions, LLC

• Veradigm LLC

• Vivify Health, Inc.

Patient Engagement Solutions Category Procurement Intelligence Report Scope

• Patient Engagement Solutions Category Growth Rate: CAGR of 17.7% from 2023 to 2030

• Pricing Growth Outlook: 5% - 10% increase (Annually)

• Pricing Models: Subscription-based pricing, perpetual pricing, usage-based pricing, and freemium pricing

• Supplier Selection Scope: Cost and pricing, past engagements, productivity, geographical presence

• Supplier Selection Criteria: Years in service, industries served, employee strength, revenue generated, geographical service provision, key clientele, certifications, software type, hardware type, services offered, deployment mode, and others

• Report Coverage: Revenue forecast, supplier ranking, supplier matrix, emerging technology, pricing models, cost structure, competitive landscape, growth factors, trends, engagement, and operating model

Brief about Pipeline by Grand View Research:

A smart and effective supply chain is essential for growth in any organization. Pipeline division at Grand View Research provides detailed insights on every aspect of supply chain, which helps in efficient procurement decisions.

Our services include (not limited to):

• Market Intelligence involving – market size and forecast, growth factors, and driving trends

• Price and Cost Intelligence – pricing models adopted for the category, total cost of ownerships

• Supplier Intelligence – rich insight on supplier landscape, and identifies suppliers who are dominating, emerging, lounging, and specializing

• Sourcing / Procurement Intelligence – best practices followed in the industry, identifying standard KPIs and SLAs, peer analysis, negotiation strategies to be utilized with the suppliers, and best suited countries for sourcing to minimize supply chain disruptions