Category management is vital in strengthening your strategic procurement process. Originally designed as a project-based approach to managing the sourcing of goods and services, category management has grown to include: spend management and analysis, market intelligence, corporate reporting and governance. It is supported by the right people, tools and technology. Category management is the basis for delivering procurement value to organizations, beyond just negotiating better prices.
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Without Maintenance, Repair, and Operating Supplies (MRO), any manufacturing business would grind to a halt. MRO usually refers to any product or service that is used to support production. Examples are:
As people begin to return to the office environment there is much talk about what the new work-life will be like. Employees may feel apprehensive: they want to experience interaction with others, but they also want to feel comfortable and safe.
Sourcing and contracting Human Resources (HR) services is a complex and challenging area and it is not getting any easier. The pandemic has had a big impact on how we work and how we staff our organizations. Employment regulations are also subject to constant change.
Group purchasing organizations (GPOs) are increasingly becoming more prevalent in the challenging procurement environment within the private sector. Traditionally, GPOs Have been associated more with the public sector and specific industry sectors such as healthcare and non-profits where they focus on volume consolidation to increase purchasing power on behalf of members.
Jamie Vogel, VP of Sales and Marketing at Transportation Impact and Marco Pambianco, Regional Director, Central at OMNIA Partners recently discussed in a webinar, various ways in which companies can avoid unnecessary shipping costs this year through education ideas, insights, and data.
The decision to rent equipment versus purchase can be a tough choice for procurement and key stakeholders to make. Equipment tends to be a large expenditure and critical to productivity, making this spend crucial to an optimized spend management strategy. Procurement needs to weigh several factors to decide what makes most sense for their organization.
We have outlined the pros of equipment rental versus equipment purchase.
Managing inventory levels of Maintenance, Repair, and Operating Supplies (MRO) is a major challenge for any business. MRO usually refers to any product or service that is used in a manufacturing facility to support production and keep the business running. It will include industrial supplies, tools, personal protective equipment (PPE) and all types of consumables. It could also include items needed for the physical maintenance of the factory and systems support. Without MRO, the business would grind to a halt.
One definition of a successful purchase is the right product or service, delivered in the right place, at the right time, of the right quality, for the right price. There is scope for failure in each one of these elements. Managing procurement risk means understanding what can go wrong and having plans in place to avoid unwanted outcomes. Many organizations are not fully aware of the many types of procurement risk they are exposed to and are therefore not ready when supply chain disaster strikes.
