Strategic Sourcing For Mining and Natural Resource Companies
A volatile international market, environment- and technology-driven changes in product demand, and increasing regulations drive the need for cost reduction in the mining and natural resources industries. While demand fluctuates, commodity prices drop, and increased government regulations affect revenue; overhead and operational expenses remain constant. Keeping these costs as low and predictable as possible can help mining operations remain profitable and better plan for future market disturbances.
Source One offers the strategic sourcing solutions and subject matter experts to help mining companies reduce costs associated with mining and natural resource extraction, as well as increase their supply chains value and improve their operational efficiency.
In categories such as mining and natural resources, where regulation compliance and product quality are top priorities, increasing value without compromising service levels is crucial. The lowest cost option is not always the best choice. Source One’s strategic sourcing consultants have decades of experience meeting specific requirements like country of origin, certifications, and material quality when sourcing products, regardless of their category, their uniqueness, or the condition of their individual market.
Our team can also help mining and natural resource organizations analyze current spend with a detailed spend analysis, benchmark, or market assessment to identify practical and beneficial savings opportunities. In addition to reducing costs, our strategic sourcing initiatives can increase service levels and develop long-term supplier relationships. Having healthy relationships with suppliers is crucial since innovation is a key factor to the mining and natural resource industry and working at a partner-level with suppliers can secure exclusive rights to a supplier’s improved technology and practices.
Once the ideal strategy is determined and presented to a mining client, Source One’s strategic sourcing team will assist with successfully implementing those savings programs approved by the client stakeholders. Once a new programs are in place, our strategic sourcing experts we can also assist in tracking compliance to ensure end-user purchasers within an organization are utilizing using preferred suppliers or the appropriate products, and buying under agreement, in order to realize the full savings potential.
Source One has decades of experience developing strategic sourcing solutions for mining and natural resource extraction companies, and has expertise in sourcing a variety of categories critical to these industries, including:
- Heavy Equipment Maintenance
- Conveyors, Belts and Fasteners
- Filtration Parts
- Pipe, Valves, and Fittings
- Safety Supplies
- Vehicle Maintenance Parts and Aftermarket Parts
- Welding Gases and Supplies
- Utilities and Electric
- Environmental Impact Studies & Remediation
Source One’s strategic sourcing team has experience within these, and hundreds of other, product categories, along with experience working with the leading suppliers in the mining and natural resource market. As market conditions become more competitive and demanding, the use of market intelligence in strategic sourcing has become increasingly important. Our experience with mining organizations has given us valuable insight into the various suppliers’ capabilities, and we can work with you to ensure that the best-suited suppliers are properly aligned to your organization.
Contact us today to learn more about how we can help your organization.
Spend Management Services For Mining Companies
MRO Sourcing for Mining Companies
Source One’s strategic sourcing team has unparalleled insight into MRO market conditions and pricing. But managing your MRO spend is much more complex than just knowing a good price and a good supplier. Properly managing MRO spend at a mining company consists of having a complex understanding of the end-use and purpose of MRO supplies and must take a careful look at service levels, iventory levels, and lead times.But building specifications is just a start. Your company needs tight ordering controls and an audit trail. You need to monitor MRO invoices not only for supplier price creep, but your own internal maverick buying. You need a team that can rationalize your purchases within your own business units and identify and obtain savings from leveraged spend. Source One can help. Our MRO sourcing experts have helped mining companies rationalize and reduce MRO spend.
MRO Strategic Sourcing
Supply Chain Optimization
Source One’s supply chain optimization service allows your company to reduce the cost of carrying inventory while ensuring its available when you need it. By improving forecast analytics, developing demand and replenishment strategies, and effectively managing vendors, Source One can help you reduce your supply chain costs and improve profit margins.
Supply Chain Optimization