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WILLOW GROVE, PA, August 31, 2018 /24-7PressRelease/ -- The Procurement and Strategic Sourcing specialists at Source One, a Corcentric company, offer best practices for managing MRO spend and outline their unique approach to the category in their new whitepaper series. Titled MRO Demystified, the series will guide organizations in developing a framework for more effective MRO category management.
MRO spend confounds even the most expert organizations. Composed of diverse products and services, the category demands close attention, consistent effort, and collaborative thinking. Source One's category management team has refined its strategies for optimizing MRO spend over years of successful client engagements. In MRO Demystified, they leverage these experiences to provide actionable insights to Procurement functions at all maturity levels.
"It's impossible to overstate how critical MRO spend is to an organization," says Associate Director and MRO Category Lead Michael Croasdale. "A poor purchase or supplier relationship within the category could leave a company suffering with broken machinery and stalled production. While most organizations recognize how important their MRO supply base is, few approach the category as strategically as they should."
The first installment of MRO Demystified examines some of the typical approaches to MRO spend management. Inspired by corporate mandates and quick-win aspirations, these methods tend to exacerbate MRO's inherent complexity. "Our goal," says Croasdale, "is to help readers recognize the shortcomings in their historical procurement practices and empower them to drive change within their organizations."
Over the next several weeks, Source One's new whitepaper series will cover each stage in the MRO sourcing process and present the spend management firm's tips for long-term efficiency and cost reduction.
The series joins Source One's library of Procurement thought leadership. Their spend management authorities have previously published reflections on topics including Procurement Transformation, Supplier Relationship Management, and advanced analytics.
About Source One, a Corcentric Company
Source One is the premier procurement services provider and strategic sourcing consulting firm. Since 1992, our team of spend management experts has supported best-in-class organizations in optimizing their procurement and sourcing capabilities and achieving more value from their supply base. We serve as an extension of clients' existing teams, saving them time and resources by applying our experience, tools, cross-industry best practices, and customized supply management solutions. To learn more about Source One, a Corcentric company, visit us online at: https://www.sourceoneinc.com/sample-spend-categories/indirects/sourcing-mro/
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