Supplier Profiling, Procurement Best Practices, and Price Monitoring for MRO Services
SpendEdge’s recent procurement intelligence study on maintenance, repairs, operations (MRO) services helps companies in the manufacturing sector to streamline its sourcing and procurement activities and improve their overall position in the market.
Demand trends in the MRO services industry
MRO services offered in the market are essential for the uninterrupted functioning of manufacturing plants and operational facilities of organizations. These services facilitate storeroom management, equipment maintenance, and inventory management. The increase in M&As is resulting in geographic expansion and enhancement of product portfolios to meet the demand in the market. The introduction of integrated services or one-stop-shop solutions is gaining immense traction in the market. Service providers are enhancing the efficiency and increasing buyers’ visibility on various aspects of the MRO supply chain to gain a competitive advantage over other players. The growing adoption of various cost optimization controls will help end-users to achieve high-cost savings and achieve category management that adds value benefits to the entire process. The procurement intelligence report by SpendEdge on MRO services helps companies to identify and shortlist suppliers, evaluate supplier profiling and price monitoring.
The implementation of smart-tech solutions will assist consumers to monitor the health of the production facility and facilitate predictive maintenance actions. The MRO service providers are encouraging the use of advanced technological solutions based on analytics platforms, sensors, and the cloud infrastructure to offer uniform and enhanced services. These systems offer clear visibility into the supply chain and increase the productivity of the employees.
Emergence of e-procurement solutions
Companies are leveraging the Internet, information systems, and networking systems such as EDI and ERP for buying or sourcing products and services. E-procurement helps reduce communication and time required for procurement processes such as catalog requisition and product comparison. Moreover, these systems are designed to eliminate the involvement of paper and enable product or brand comparison details that increase consumer interactions. The suppliers are also adding value-added services that improve the productivity and quality of services offered by the suppliers. E-procurement portals streamline the operational workflow and aids in better inventory management.
Solutions SpendEdge offer to businesses
SpendEdge’s procurement intelligence market study provides a holistic overview of the MRO services market and analyzes information from client account holders, procurement managers, and industry consultants to gain a deeper understanding of the market. The solutions offered includes:
- Help the client successfully shortlist all the major suppliers in the MRO services market
- Offer an in-depth understanding of price monitoring, supplier profiling, and cost components
- Provide a detailed assessment and insights into the supply market, price negotiation strategies, parameters for supplier selection and evaluation, and procurement best practices
- Shortlist major MRO service providers for their manufacturing units across 14 countries
Read our complete case study titled – Procurement Market Intelligence Solution Helps a Manufacturing Company
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