- A range of category resources from articles to blogs to white papers, will give members support to manage the complexities of MRO procurement
- Data and collaboration is key to successful MRO procurement management
- A complicated process, this partnership means CIPS members receive practical, easy to understand guidance
The Chartered Institute of Procurement & Supply (CIPS), the largest professional body in the world and RS Components, the global distributor for engineers, have forged a partnership to offer CIPS members knowledge resources to unravel complexity to achieve cost savings, and understand the nature of MRO costs.
The insights also include papers covering topics such as Complexity Conceals Potential Cost Savings which outlines the three key methods of unravelling MRO complexity by focusing on the involvement of all relevant stakeholders, analysing consumption data, and tracking savings achieved. Other areas of discovery include Understanding the Distinct Nature of MRO costs which highlights how indirect costs are often missed compared to direct procurement activity.
Members are also advised to put customers first, before cost savings because of the inherent risks and cost implications if things go wrong. RS industry sector manager Chris Cruise explains why procurement teams should put service levels before cost cutting.
Further guidance from the RS Connected Thinking hub includes Simon Roberts explaining why eProcurement is a logical step for most organisations and what to consider when making the switch.
David Noble, Group CEO, CIPS said:
"Complexity is the enemy of good procurement practice. As professionals become busier and the world of business more challenging, having straightforward, practical guidance is not only essential but can solve the perpetual procurement conundrum – how to spend well, act ethically, make a difference for my organisation.
“I’m pleased that we continue working together, increasing the insights our members receive. I’m particularly gratified that the partnership offers insight into the use of data to support an understanding of the pattern of trends and associations, behavioural analytics, which is highly valuable to a professional moving towards strategic procurement and supply management.
“This is the key differentiator between a professional with their finger on the pulse and one who will soon find themselves lost in modern procurement.”
Mike England, Managing Director, RS Northern Europe (UK, Republic of Ireland, Denmark, Sweden & Norway), RS, said:
“We’re proud to be able to partner with CIPS as a knowledge partner on MRO procurement and share best practice, advice and thought leadership. We’re committed to driving procurement excellence as an enabler for growth. Procurement decision makers are challenged with a changing world, financial pressures and demanding stakeholders and need suppliers with a partnership mentality who can help.
“Our experience and knowledge can enable customers to optimise their suppliers and processes and help define cost-saving strategies to reduce the true cost of procurement, which is significantly more than simply the cost of products. Supply management is a complicated topic but is also a route to a successful business and procurement excellence is an achievable goal we should all strive for.”
For more information on the MRO resources please visit the CIPS website or the RS Connected Thinking Hub
Trudy Salandiak; PR Manager, firstname.lastname@example.org; +44 (0) 1780 761576; 07554 400 731
Aakriti Kaushik, PR Manager – Northern Europe, RS Components email@example.com +44 (0) 7795 400651
The Chartered Institute of Procurement & Supply
The Chartered Institute of Procurement & Supply (CIPS) is the world’s largest procurement and supply professional organisation. It is the worldwide centre of excellence on procurement and supply management issues. CIPS has a global community of over 115,000 in 180 different countries, including senior business people, high-ranking civil servants and leading academics. The activities of procurement and supply chain professionals have a major impact on the profitability and efficiency of all types of organisation and CIPS offers corporate solutions packages to improve business profitability.
About RS Components
RS Components and Allied Electronics are the trading brands of Electrocomponents plc, the global distributor for engineers. With operations in 32 countries, we offer more than 500,000 products through the internet, catalogues and at trade counters to over one million customers, shipping more than 44,000 parcels a day. Our products, sourced from 2,500 leading suppliers, include electronic components, electrical, automation and control, and test and measurement equipment, and engineering tools and consumables.
Electrocomponents is listed on the London Stock Exchange and in the last financial year ended 31 March 2016 had revenues of £1.29bn.
For more information, please visit the website at www.rs-online.com.
Further information is available via these links:
Twitter: @RSComponents; @alliedelec; @designsparkRS
RS Components on Linkedin