MRO Sourcing Experts Share Insights in New Whitepaper
Source One’s Spend Management Team Share MRO Sourcing Best Practices
Willow Grove, PA, August 31, 2018 – The Strategic Sourcing specialists at Source One, a Corcentric company, plan to detail their approach to MRO spend management in a new series of whitepapers. Titled MRO Demystified, the series will address the shortcomings in Procurement’s typical approach to the category and offer suggestions for more effective MRO spend analyses and sourcing initiatives.
Composed of countless subcategories, the Maintenance, Repair, and Operations category is among the broadest spend areas any Procurement team will contend with. Predictably, it’s also among the most complicated. Diverse products and services, wide geographic scopes, and poor spend visibility all make it challenging for Procurement to develop effective methods for optimizing their MRO purchases.
“From the shop floor to the executive suite,” says Associate Director Michael Croasdale, “no one would dispute the importance of dependable MRO providers. Recognizing the category’s importance and understanding how to approach it, however, are two very different things. The category features inherent complications and unexpected hiccups that lead Procurement teams to seek out quick-win solutions. Whether these solutions favor centralizing MRO spend or fully decentralizing it, they tend to compound Procurement’s spend management concerns.”
Croasdale joins Source One’s team of MRO Procurement specialists in offering his insights to the series. “Our hope,” he says, “is that readers will not only recognize the flaws in their historic approach to MRO spend, but also feel empowered to develop more informed, strategic practices.
Published today, the first installment of MRO Demystified explores the dangers of taking a one-size-fits-all approach to the category. Emphasizing the importance of thoughtful, customized strategies, it also presents a number of cautionary examples. Over the next several weeks, the series will also discuss the Strategic Sourcing process from spend analysis to negotiations with MRO suppliers.
Source One’s new MRO whitepaper joins their library of Procurement and Spend Management thought leadership. Past publications have discussed topics include Supplier Relationship Management, Procurement Transformation, and IT sourcing.
Corcentric is a global provider of business spend management and revenue management software and services for mid-market and Fortune 1000 businesses. Corcentric delivers software, advisory services, and payments focused on reducing costs, optimizing working capital, and unlocking revenue. To learn more, please visit corcentric.com.