Los Angeles, CA (PRWEB) January 21, 2014
Occupational health and safety services have a buyer power score of 3.2 out of 5.0. Scores closer to 5 represent better negotiating conditions for buyers. Suppliers have not experienced high fluctuations in demand over the past three years as businesses have been increasingly held accountable for their operational environments and the wellbeing of their employees. “After the recession, businesses sought ways to address costly workplace injuries and health needs, and have now come to rely on outsourced consultants to develop effective occupational plans that reduce risks while improving overall productivity,” says IBISWorld procurement analyst Andrew Rebhan. Over the past three years this rise in demand has boosted prices. Coupled with the growth in employees, businesses and corporate profit levels, demand for occupational support services is forecast to growth further in the coming three years.
Although prices have been rising, the level of price and driver volatility has been low for buyers, effectively reducing the risk associated with price shifts. “The supply chain offers moderate risk in terms of service deliverability, but buyers do not face substantial threats to their purchasing process, and most vendors in this market do not face high bankruptcy risks,” says Rebhan. The occupational health and safety service field has a low level of market share concentration, which can offer benefits for buyers that are able to leverage multiple offers from suppliers in their regions. Major vendors include ACE Group, Bureau Veritas, E I. du Pont de Nemours and Company and Marsh & McLennan Company.
Buyers should consider the dynamic mix of options offered by occupational health and safety services before entering the purchasing process. Suppliers can assist buyers by offering training sessions, written manuals, evaluations, inspections and longer-term consulting efforts; each method of support will offer different time frames, total cost of ownership and switching costs. Regardless of the method by which buyers receive assistance on their safety and health programs, they will require customized solutions that may reduce their negotiating power, unless they are able to rely on certain substitutes such as internal health departments.
For more information, visit IBISWorld’s occupational health and safety services procurement category market research report page.
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IBISWorld Procurement Report Key Topics
This report is intended to assist buyers of occupational health and safety services. This market consists of organizations that design and help implement programs for firms in order to improve the safety, wellness and productivity of their employees. Occupational health and safety can encompass a variety of tasks, including protecting against illnesses and accidents in the workplace and promoting the physical and mental well-being of workers. These tasks can be assessed through screenings, risk evaluations, training courses and counseling sessions.
Recent Price Trend
Product Life Cycle
Total Cost of Ownership
Supply Chain & Vendors
Supply Chain Dynamics
Supply Chain Risk
Market Share Concentration
Vendor Financial Benchmarks
Buying Lead Time
Key RFP Elements
Buyer Power Factors
About IBISWorld Inc.
IBISWorld is one of the world's leading publishers of business intelligence, specializing in Industry research and Procurement research. Since 1971, IBISWorld has provided thoroughly researched, accurate and current business information. With an extensive online portfolio, valued for its depth and scope, IBISWorld’s procurement research reports equip clients with the insight necessary to make better purchasing decisions, faster. Headquartered in Los Angeles, IBISWorld Procurement serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.