MRO refers to products and services (typically provided by OEMs and distributors) essential for the smooth functioning of manufacturing plants and operational facilities of organizations. The products are further classified into spare parts and consumables, and services can be segmented into equipment maintenance, storeroom management, and inventory management.
The Procurement Pain Point
One of the leading manufacturing companies wanted a sourcing partner for the maintenance, repairs, operations (MRO) services for all their manufacturing units around the world. The client was facing challenges with identifying and shortlisting suppliers, supplier profiling, and price monitoring. Furthermore, the client was also looking for procurement market intelligence solutions to streamline its sourcing and procurement processes and improve its overall position in the market.
Procurement Market Intelligence Insights Offered and the Outcome
To provide a holistic overview of the MRO services market, SpendEdge’s procurement market intelligence research experts followed a blended research methodology comprising of primary and secondary research. We deployed a team of highly experienced analysts who referred to a vast database of secondary resources including industry journals and reports, periodicals and articles, and whitepapers. They also engaged in detailed discussions and interviews with industry experts, procurement managers, client account holders, and industry consultants to gain a deeper understanding of the market.
This procurement market intelligence study helped the client successfully shortlist all the major suppliers in the MRO services market and offered a better understanding of supplier profiling, price monitoring, and cost components. Furthermore, this study offered a deep-dive assessment and insights into the supply market, price negotiation strategies, parameters for supplier selection and evaluation, and procurement best practices. In a span of just four weeks, the client was able to shortlist the major MRO service providers for their manufacturing units across 14 countries.
This procurement market intelligence solution helped a global manufacturing company understand the MRO services market in terms of supplier profiling, price monitoring, and cost components.