5 Questions To Understand The Immediate Need Of A MRO Procurement Strategy

1. 5 Questions To Understand The Immediate Need Of A MRO Procurement Strategy

2. Historically, indirect material purchases were rarely prioritized as a cost-saving opportunity. However, competitive markets have forced businesses to reconsider the MRO procurement process, and innovations in technology have made it easy to minimize costs and streamline the MRO procurement and supply chain. This involves properly managing the supply of spare parts, materials, chemicals, equipment and supplies that are required to ensure company assets achieve optimal performance. There are many benefits associated with improvements in the MRO procurement and supply chain including – but not limited to – a reduction in procurement spend, reduction in inventory levels, increased material availability, improved productivity and reduction in asset downtime.

3. MRO-purchasing, due to its ad hoc nature, is usually managed via the issue of purchasing requisitions. This means that expenditure control could quickly get out of hand. The trick is to estimate what supplies and services are regularly required and issue regular purchase orders.

4. Ask these 5 questions and understand the immediate need of a MRO procurement strategy: 1. How can we classify the hundreds of components we purchase while optimizing business effect, given that not all parts are equally crucial or complex? 2. For which critical parts do we need a strategic relationship with our suppliers? Can I get good value through a menu of service level offerings in addition to price? 3. Which components may we buy in bulk and leverage during negotiations? 4. Can we avoid bottlenecks and jointly develop problem-solving process improvements? 5. Which components are standard elements that make administration simple?

5. Through our MRO procurement strategy we identify usage trends and build asset profiles, and we use that data in eradicating procurement and supply chain barriers. It means a smoother part ordering process and more efficient maintenance. Our strategy cleanses, organizes, benchmarks, and monitors your tough-to-track spend. Paragon’s holistic approach to MRO procurement strategy offers the promise of significant value because it incorporates both parts costs and process costs. With an achievable savings target of 10-15% category-wide, the opportunity is hard to deny. Our passion for results, combined with our high-touch, high-service model, and dedicated teams simplifies execution for you. Want to learn more about what Paragon & our MRO procurement strategy can do for your business? Contact us.

6. Contact Information Email Website info@paragonresults .com https://paragonresu lts.com/ Address Contact No. 1000 Parkwood Circle, SE, Suite 900, Atlanta, GA 30339 +1 (630)-273-5231