Industrial Supplies Strategic Sourcing and Cost Reduction Services

Corcentric’s MRO Strategic Sourcing experts empower organizations to optimize their spend across categories including Industrial Supplies.

The Industrial Supplies category includes essential items like tools, hardware, fasteners, lab supplies, welding supplies, and more. Successfully sourcing industrial supplies is essential for maintaining daily operations within a warehouse or facility. Without them, organizations can’t function, produce their product, or serve their customer base.

Managing this MRO subcategory is not without its challenges. Conducting a Strategic Sourcing initiative in the Industrial Supplies category often means contending with product overlap, hard-to-please end users, and unexpected demand. An organization with a history of mismanaging MRO spend and supplier relationships can find it difficult to achieve both best-in-class pricing and end-user satisfaction.

Challenges of Industrial Supplies Strategic Sourcing

For the Procurement teams looking to reign in MRO spend, the Industrial Supplies marketplace can be difficult to navigate as it is crowded and highly competitive. With so many national vendors offering similar products, supplier identification can prove overwhelming. As a result of site-level purchasing, localized distribution, product substitutions, and brand loyalty, Industrial Supply sourcing tends to attract a lot of maverick spend. This, in turn, makes it difficult to standardize a sourcing approach. Many Industrial Supplies purchases are made irregularly. Without recurring Industrial Supply purchases, it’s often challenging to develop core item lists and negotiate pricing. Oftentimes, Industrial Supplies are needed immediately. Novice Procurement professionals could find it impossible to establish industrial vending agreements quickly enough.

Industrial Supplies Strategic Sourcing with Corcentric

Our MRO strategic sourcing specialists have spent years developing custom Industrial Supplies programs for our clients. Armed with a wealth of MRO market intelligence, we empower our clients to achieve the maximum possible value from their Industrial Supplies providers.

• First, our strategic sourcing experts will conduct in-depth interviews with stakeholders and incumbent Industrial Supplies providers to better understand your organization’s unique MRO needs.
• Next, our MRO strategic sourcing team will conduct a spend analysis to understand past Industrial Supplies purchasing, develop a pricing baseline, and better tailor our strategic sourcing recommendations.
• Then, our MRO strategic sourcing specialists will survey the Industrial Supplies market landscape. Assessing Industrial Supplies providers with varying business models and product catalogs, we’ll work to match your Industrial Supply requirements with best-fit suppliers.
• Finally, our consultants will manage negotiations to achieve best-in-class agreements. Your organization will meet its cost reduction goals while realizing additional value adds including expedited delivery, rebate incentives, and VMI programs.