Across industries, experts are turning to strategic category management to keep their spare parts and MRO procurement processes and operations more resilient. A few simple changes can transform the way your operation approaches inventory management, stocking, and more. Here are…
As seen in Forbes. If you’re a procurement leader, developing improved business strategies should involve advancing technology, increasing digital intelligence, and improving collaboration across in-house teams. Given these strategic objectives, digital-driven automation has become the ‘holy grail’ for procurement departments,…
Optimizing safety stock of MRO and spare parts requires understanding different variables that work together to keep your manufacturing operations running. Without a deep understanding of how these moving parts work, and close monitoring of their progress, it can be…
Procurement professionals are always looking for new ways to maximize profitability and minimize expenses to improve their company’s bottom line. Although vendor consolidation is an excellent way to do this, it’s also one that’s often overlooked. In this article, we’ll…
To stay ahead of a competitive market and keep operations costs low, procurement teams need to maintain strategic vendor relationships that offer reliable quality while maintaining service level agreements. It all starts with creating a shortlist of reliable vendors, a…
In today’s complex and fast-moving supply chain landscape, it no longer makes sense for businesses to stagnate with primitive or manual optimization systems. Businesses require efficient and effective solutions to manage their operations and processes in order to stay ahead. …
Maintenance, Repair, and Operations (MRO) and Original Equipment Manufacturers (OEMs) management are two critical components of any supply chain. While MRO focuses on the optimal performance of complex machinery and equipment, OEMs are responsible for the design and production of…
Is inefficient spending starting to impact your profitability? If you’ve answered yes to this question, then it’s high time that you conduct a comprehensive spend analysis to identify cost-saving opportunities and optimize every dollar spent. Spend taxonomy is a crucial…
It’s normal for procurement processes to become more complex as businesses grow. However, without strategic oversight and careful management, this can spiral into the development of a long list of vendors, duplicated spending, growing tail spend, and high operational costs. …
