More and more industrial spares products are being sold every other day, which usually comes with risk in any industrial procurement. This article will explain the risks faced by procurement professionals and how to handle those better when buying Industrial / MRO Spares.
Difficulties in purchasing Industrial Spare Parts
Procurement professionals in spare parts industries face many challenges. On an average three quarters of industrial spare parts buyers are wasting their cash. Here are the hot 6 issues that happens when making buying decisions.
1. Cost Control
2. Handling too many vendors
3. Inflexible Suppliers
4. Ineffective procurement
5. Cost Negotiation
6. Lead Times
All the above listed problems are being experienced because of traditional buying.
Industrial Procurement Online (E-Procurement) – Why is it the best way?
Online Shopping has evolved 20 years ago, and still procurement or business owners are not exposed to the benefit they can derive. Many suppliers aren’t familiar with the ecommerce technology, or they are unsure as to how to move forward. A Buyer, whether he is looking for consumer or industry products, today they prefer to get it in one place that they can get all the best combinations right – low price, quicker delivery, trustworthy and a place where they can look for as their first choice.
For traditional buyers, coordinating with multiple suppliers is becoming more of a nuisance as the process becomes too time consuming and hurting the procurement time when the need is immediate.
On the other hand, Online buying provides access to more than one vendor or industrial spare parts suppliers at one place. This in-turn helps the buyers to compare product features, price options, product discounts, location, delivery timeframe, etc.
Quick Accessibility of Top Brand Products
When you are looking to source multiple products, numerous vendors need to be involved; this obviously increases the process time in procurement and also delays the product arrival time when in need. When immediate procurement is sought, vendors may overcharge for the same product exploiting the situation.
Online procurement can help drastically cut short the procurement time and is a boon when multi-branded products are required; all that can be procured from a single place. This helps in building TRUST with the buyer and seller.
Zero Lead Time
When handling traditional procurement process, lead time can significantly vary from one supplier to another. Procurement times cannot be estimated when shipment is across locations, as it lacks the transparency as to where the goods are and when exactly it is likely to touch your plant or factory.
But with trusted online marketplace, the delivery schedule will not just be transparent but you will be able to track the spare parts right from the time of order placement.
For instance, Buyer may not be aware that some spare parts have compatibility with other products also. But there is more chance of acquiring replacement industrial spares, with expertise advice on the online platform.
On Budget Purchasing
Products can be at higher rates across vendors and negotiations take a toll every time product(s) get procured. If there is an online place where one can buy with trust, where the prices can be significantly lower with great quality, it helps to buy MRO or Industrial Spares right in time, and either on budget assigned or even way below the budgeted prices.
Needless to say, when it comes to bulk procurement, the savings can be very significantly and online might pave the way to disrupt this Online MRO Industrial Spaces buying and selling process.