Apart from keeping the environment clean and fresh, hiring a waste management company has other long-term benefits such as:
Increases Operational Efficiency
Adherence to Compliance
Introduction of New Revenue Model
Better Brand Image and Employee Morale
Good waste management practices increase transparency and attract positive attention from customers which enhances the brand value. A positive enrollment towards a green environment also promotes cleaner and healthier workplace, building pride in employees towards the organization
The key procurement strategies for efficient waste management are:
Identifying cost components
Selecting a sophisticated supplier
On-boarding a supplier who provides detailed periodic reports by using “in-cabin management systems” and “software generated documentation” is important for operational efficiency. If not organizations might have to spend time to monitor waste and manually document the information gathered
The global waste management market size was estimated at USD 398.6 billion in 2020 and is expected to register a compound annual growth rate (CAGR) of 5% from 2021 to 2027. Key driving factors include strict waste management regulations from various governments, focus on sorting and treatment of different types of waste before disposal, composting of bio-degradable waste, etc.
Due to COVID-19, in 2020 the industry witnessed a segmental shift, the residential sector generated more waste as compared to commercial and industrial sector owing to lockdowns in various parts of the world.
APAC held the largest market share of waste management services due to increased disposable income and demand for packaged foods and beverages from growing economies such as India, China, Australia, and South Korea.
Increasing recycling is the major step to reduce disposal costs and improving the bottom line of any organization. Waste can be used as raw materials for new products, it helps in conserving water, energy, land, and raw materials.
The key constraints related to waste management services are quite internal which involves:
Poorly trained employees
Excessive downtime due to poor employee retention
Lack of industry standardization
Language and cultural differences
Low safety precautions
A strategic partnership with Waste Management Service company is the only route towards lowering the chances for a possible downtime.
The key suppliers for waste management are Waste Management, Veolia, Republic Services, SUEZ, Waste Connections, Biffa, and Covanta Energy. The market features a fragmented competitive landscape with several local suppliers offering the service. The market is expected to move towards consolidation as suppliers are focusing on M&A activities for geographical expansion.
Waste Management acquired Advanced Disposal Services (a solid waste management company) in October 2020. The acquisition will enable Waste Management to cater to 3 million new commercial, residential, and industrial customers located in 16 states in the eastern region.
Grand View Research will help our client identify the best-suited suppliers by mapping their core capabilities and operational efficiency.
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Component wise cost break down for better negotiation for the client, highlights the key cost drivers in the market with future price fluctuation for different materials (e.g.: steel, aluminum, etc.) used in the production process
Offering cost transparency for different products / services procured by the client. A typical report involves 2-3 case scenarios helping clients to select the best suited engagement with the supplier
Determining and forecasting salaries for specific skill set labor to make decision on outsourcing vs in-house.
A typical newsletter study by capturing latest information for specific suppliers related to: M&As, technological innovations, expansion, litigations, bankruptcy etc.
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