Source One’s MRO category experts share step-by-step spend management insights in the MRO Demystified whitepaper series.
The MRO category presents Procurement professionals with a variety of challenges:
The category includes a diverse range of highly-technical products and nuanced services.
Long-standing relationships between end-users and their preferred suppliers can complicate the supply base.
Purchases are often made with safety and up-time in mind rather than costs or long-term sustainability.
Numerous facilities often make spot buys independently.
Communication between these sights can be spotty and lead to poor or non-existent standardization.
Effectively managing MRO spend means contending with all this and more. Understandably, the category is a tricky one that requires a strategic and methodical approach. Source One detail such an approach in MRO Demystified. The whitepaper series exposes the shortcomings in typical approaches to MRO spend, provides a step-by-step guide to tackling the category, and offers a framework for more effective MRO Category Management.
Sustainable MRO spend management begins with understanding your organizations MRO spend pattern and profile. In MRO Desmystified Part II: The Value of a Spend Analysis, Source One’s MRO experts break down how to approach a spend analysis to identify cost reduction opportunities.
To maximize value out of procurement workflows, strategic sourcing needs to be at the forefront of the spend management cycle. Part III of the MRO Demystified series, The Role of Strategic Sourcing in Spend Management, examines the inputs and outputs of an effective sourcing initiative and best practices for approaching strategic sourcing in the MRO category.
The experts in MRO Procurement conclude this series with MRO Demystified Part IV: Long-Term Spend Management. This insightful installment helps Procurement teams break their bad habits and develop a more strategic approach to engaging with their MRO suppliers.