BRISTOL, Pa., Feb. 24, 2021 /PRNewswire-PRWeb/ -- SDI, the leader in B2B digital supply chain services, with 50 years of specialized focus on essential maintenance, repair and operations (MRO) materials for manufacturing and facilities maintenance providers recently announced a strategic partnership with Fairmarkit, the Boston-based intelligent sourcing platform company that is transforming procurement with automation.
This partnership aims to further the integration and digitization of the MRO supply chain by enabling a B2C experience for B2B users. Both industry disruptors share a commitment to innovation and continuous supply chain improvement. Fairmarkit's automated solution equips procurement and supply chain teams with the tools they need to more efficiently source the goods and services they need, while significantly reducing manual efforts, increasing cost savings and enabling stronger compliance and policy adherence.
"To-date, procurement has been hampered by archaic technology and manual processes, resulting in over-staffed procurement departments managing large amounts of manual work," said Kevin Frechette, Co-founder and CEO of Fairmarkit. "By automating these parts of the procurement process, our solution reduces manual efforts by at least 40%, saves time, and brings unparalleled efficiencies to procurement teams."
"On average most organizations order only 27% of their stock MRO items for three consecutive years. When taking non-stock into account, that number shrinks to 12%. With only a quarter of their MRO being used consistently, organizations have a tremendous opportunity for potential savings," said Jeremy Jordan, COO of SDI. "Being able to automate the bidding of non-stock purchases with Fairmarkit not only increases the speed to results but also creates the competitive environment to deliver the best price. Additionally, it allows for effective contract price management for stock items, providing additional value in inventory optimization that just wasn't available previously."
This best-in-class technology complements SDI's solution offering with additional speed, agility, transparency and certainty of outcome. The partnership also provides SDI access to Fairmarkit's vast marketplace of suppliers, which helps improve visibility into market trends and innovations, promotes competitive bidding and allows customers to diversify their supply chains. SDI, who creates end-to-end turnkey solutions to manage the supply chain of essential PPE and MRO materials needed to keep customers safe and facilities operational, complements Fairmarkit with 50 years of MRO supply chain expertise, the support of their national network of service and solution architecture, and increased speed to result for Fairmarkit customers through their professional services.
Fairmarkit is the intelligent sourcing platform that empowers organizations to more efficiently purchase the goods and services they need. By equipping procurement and supply-chain teams with automation and data, Fairmarkit promotes competitive bidding while reducing manual work within existing processes. Leveraged across a number of industries by innovative procurement departments, such as Snowflake, Cabot Corporation, and Refinitiv, Fairmarkit aims to revolutionize the way organizations make purchases. Learn more at http://www.fairmarkit.com
SDI is a Digital Supply Chain Solutions firm with a focused practice in Indirect Materials, MRO, and Industrial/Facilities Technology. We go to market through an innovative As-a-Service offering, delivering custom solutions and results designed to improve our client's MRO and supply chain performance.
Using a custom suite of products, services and tools, SDI's application suite and associated services, aligns and optimizes every step of the digital supply chain. Lower costs, smarter inventories and more reliable production are all natural results from a more connected MRO supply chain. To learn more visit: http://www.sdi.com or contact [email protected]
Both companies are presenting at the 2021 Society of MRO Professionals Virtual Symposium. Click here for more information.
Debra Yorkman, SDI, Inc, +1 215-633-1914, [email protected]
SOURCE SDI, Inc