Electrical Supplies Cost Reduction Support from Corcentric Procurement and Strategic Sourcing team.

Corcentric’s MRO Strategic Sourcing experts empower organizations to optimize their Electrical Supplies spend.

Comprised of wiring, cables, fuses, electrical distribution equipment, lighting supplies, industrial automation supplies, and all other ancillary electrical hardware, the Electrical Supplies sub-category is a diverse and critical component of any organization’s MRO spend.

Strategic Sourcing initiatives in the Electrical Supplies category are typically complicated by category overlap. Depending on your organization’s industry, these purchases might straddle the line between MRO and Facilities Management. Additionally, purchases within the Electrical Supplies category include a blend of both direct and indirect materials.

That’s just the tip of the iceberg for companies looking to get a better handle on their Electrical Supplies spend.

Challenges of Electrical Supplies Strategic Sourcing

For Procurement professionals, conducting a Strategic Sourcing initiative in the Electrical Supplies category generally means contending with category overlap,  decentralized purchasing structures, and a lack of standardization across sites.  Organizations that have historically taken a hands-off approach to MRO spend or pursued inefficient quick-win opportunities will find it even more challenging to promote efficiency and meet their MRO cost reduction goals.

In the Electrical Supplies category, the market for substitutes is sometimes less robust than within other MRO spend areas. The overwhelming number of niche Electrical Supplies providers can make it challenging for Procurement teams to develop an optimal supplier mix. Organizations that operate multiple sites tend to decentralize their approach to Electrical Supplies Strategic Sourcing. As a result, they fail to effectively leverage spend throughout the category and suffer the consequences of poor standardization. Few organizations possess the expertise necessary to negotiate a better price through their Electrical Supplies providers’ distribution networks. Though Electrical Supplies often represent a large portion of annual MRO spend, recurring purchases are rare. Organizations simply are not used to conducting Strategic Sourcing initiatives in the category.

Electrical Supplies Strategic Sourcing with Corcentric

Our strategic sourcing specialists have spent years developing custom Electrical Supplies programs for our clients. Armed with a wealth of market intelligence, we empower our clients to achieve the maximum possible value from their Electrical Supplies suppliers.  Providing for both Strategic Sourcing program optimization and Electrical Supplies vendor consolidation initiatives, we realize an average of 7-10% spend within the category.

• First, our strategic sourcing experts will conduct in-depth interviews with stakeholders and incumbent Electrical Supplies supplies to better understand your organization’s unique needs.  Our Electrical Supplies market evaluation will take into account any specialized requirements and cost reduction goals.
• Next, our team will conduct a thorough spend analysis to understand your historical approach to Electrical Supplies Strategic Sourcing, develop a pricing baseline, and better tailor our cost reduction recommendations.
• Then, our strategic sourcing specialists will survey the market for Electrical Supplies suppliers capable of meeting your quality standards and meeting your short and long-term cost reduction goals. They’ll take care to assess suppliers with numerous product catalogs and business models to develop an optimal sourcing strategy.
• Finally, our consultants will manage negotiations with best-fit Electrical Supplies suppliers. We’ll help reach agreements that will establish competitive pricing without sacrificing quality or establishing volume commitments.  Our Strategic Sourcing team even offers ongoing savings compliance tracking to ensure our efforts produce long-term value.