No Procurement initiative will ever succeed without proper attention to data collection. Assessing purchase histories, analyzing contracts, and engaging with stakeholders helps Procurement teams to establish an effective baseline for sourcing efforts. The process might sound straightforward, but the slightest misstep can have major ramifications. Inaccurate or inconsistent data could mean lost time, missed savings, and damaged client relationships.
Associate Director Jen Ulrich and Senior Project Analyst Nick Harasymczuk join the Source One podcast to discuss data collection for Facilities Management Spend. This complex spend category includes subcategories like fire protection, pest control, custodial services, and security systems. Companies also typically find themselves managing multiple suppliers at varying levels of sophistication. As a result, the category can prove especially challenging for Procurement professionals to evaluate.
Ulrich and Harasymczuk describe the potential hazards of neglecting the category and offer strategies for more effectively handling it. Give it a listen.
Contact Source One's Procurement experts to learn more about managing spend across all categories. Check back in next week for more information on establishing sourcing strategies for Facilities Management spend.