NEW YORK, March 2, 2015 /PRNewswire/ -- Synopsis
This report provides a detailed analysis of customer preferences in
the Asian mining sector, focusing on the factors that influence
purchasing decisions and the performance of major equipment
suppliers. The analysis is based on Timetric's extensive survey of
1156 mine managers, procurement managers and other key
decision-makers.
Areas of analysis include:
- Customer priorities when buying mining equipment, with ratings of
the importance of 16 separate factors for customers when choosing
mining equipment, including cost factors, supplier attributes and
product attributes.
- Ratings of existing suppliers across the same factors,
identifying best-performing suppliers and how well suppliers
performed versus the importance of each factor.
- In-depth analysis of the major suppliers, Caterpillar, Komatsu,
L&T and BEML, including their overall performance ratings and
their ratings for each of the factors relative to its
importance.
- Rankings of the leading suppliers for each equipment type, with
respondents indicating who they viewed as the top suppliers in
Asia for trucks, excavators,
loaders, shovels, dozers, drills, continuous miners, engines,
tyres, pumps and mining software.
- Insight into the likelihood of switching supplier and key action
points for suppliers for product and service improvements
required.
Summary
Overall trends in the data revealed:
- Customer priorities in supplier selection are product quality and
availability of parts
- Suppliers perform well, but have lower levels of satisfaction in
key areas
- L&T received the highest average satisfaction ratings, with
Caterpillar considered the leading supplier for most categories of
mining equipment
- Account managers make a significant impact in the selection
process, alongside suppliers' reputation
- Customers in Asia are happy with
their current supplier but are open to change in the long term
- Product quality was the stand out area identified for
improvement
Scope
The survey is based on responses from 115 senior managers and
decision makers at operating Asian mines, responsible for the
purchase of equipment for plant and mine operations, along with its
consumables. Survey respondents came from 7 different countries:
India, Indonesia, the
Philippines, Pakistan,
Vietnam, Mongolia and Thailand. This included 6 different commodity
groups and a range of surface and underground mining
operations.
Reasons To Buy
- Identify key areas for differentiation by understanding what
factors most influence choice of supplier
- Target product and service improvement areas based on where
mining equipment suppliers are currently underperforming relative
to customer expectations
- Develop successful sales and marketing strategies through an
understanding of the leading competitors and their strengths and
weaknesses.
Key Highlights
- When choosing an equipment supplier, respondents rate 'Production
reliability and quality' and the 'Availability of replacement
parts' as most important. However, over half of respondents feel
that suppliers need to improve in the latter.
- Overall the major suppliers such as Caterpillar, Komatsu, Volvo,
BEML, L&T, perform well in terms of customer satisfaction,
however, their weakest ratings were given for two of the three most
important factors for respondents.
- Account managers make a significant impact in the selection
process with 92% of respondents citing 'Better understanding of
your needs' and 'Better ability to build a long-term relationship'
as differentiating factors when choosing their current main
supplier.
- It was noted that there is a strong belief amongst respondents
that their choice of equipment was the correct one, with 92% of
respondents agreeing they would choose the same supplier if they
had the choice again. However, when asked if they would choose a
different supplier within five years, 52% expect to change.
- The three leading areas for improvement identified by respondents
were an 'ability to support cost reduction', 'product quality and
reliability' and the 'availability of parts'
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