Synovos’ sourcing and procurement strategies save clients an average of 15-25% of their overall supply chain cost.
At Synovos, each Integrated Supply program is anchored by a Center-Led Sourcing & Procurement team, dedicated to your account. These experienced MRO buyers and analysts are trained in recognizing trends relevant to your business as well as the entire MRO industry. They have the flexibility necessary to act on those trends, making purchasing decisions that generate savings for you. The goal is to provide clients with the right spare part at the right time for the right cost.
Combined, these teams manage more than $500 million in annual MRO spend. We use that leverage to drive savings for clients, lowering costs and improving supplier services.
The value of Center-Led Procurement does not end with a purchase order. In fact, true value is earned from how procurement information – pricing, lead times, shipping requirements, change notifications and other relevant information is used.
Along with operational review of spending patterns, vendor partnerships, and commodity management in Center-Led Procurement, additional opportunities for program success include Storeroom Design & Operations and Logistics & Inventory Management.
Synovos had a dramatic effect on spending. They buy better than we buy - better discounts - and their ability to use leveraging far surpassed competitors. There aren't many companies like Synovos.
An example of center-led procurement savings can be shown in managing a repair vs. replace program.
Parts fail. That’s a given. How those failures are managed can be the difference between a successful or failed integrated supply program. For a large life sciences manufacturer, Synovos introduced a repair management program based on an existing list of repairable parts. As those parts trickled in for replacement, the Synovos on-site team was able to evaluate the returned part and work with suppliers to determine if it was repairable, setting a minimum 53% return threshold. In other words, if a minimum of 53% savings could not be earned by repairing the part, a new one was ordered. The process has saved tens of thousands of dollars since inception.
These programs earn Synovos’ clients 15% to 25% savings in overall supply chain costs.
Synovos. Realize results.
A large, multinational pharmaceutical company realized its inventory deployment process, including the inventory location itself, was creating high indirect material costs because of lost productivity. Work orders were completed via a kitting process with technicians selecting products from bins inside a cleanroom environment. However, because some products were stored elsewhere, technicians were required to travel 40 to 45 minutes to other locations.