Considerations to Keep in Mind During the Procurement Process
Deciding to work with a single service provider to manage your full portfolio of equipment can feel like a monumental task. In considering the benefits of working with one provider, the procurement process should consider the following:
What is the company’s level of expertise and knowledge?
It is important to consider the expertise and knowledge of the company you are considering working with. Are they knowledgeable within their given field of speciality? Is their focus of service and equipment expertise relevant to the specificities of equipment your company has on site?
Asking yourself these questions when conducting your research, allows you the opportunity to assess the ability of your potential provider in how well they are able to keep you in compliance and serve your equipment on site.
What is included within your contract agreement?
It is important to have clarity on the specifics of what is included within your service and maintenance contract when working with one service provider.
When working with different suppliers there can often be hidden costs given in lieu of the initial lower rates offered. For instance, service providers can often provide low upfront costs but charge higher service and call-out rates throughout the contract of service.
Keeping yourself aware and educated on the full scope of service your provider is offering you and how it keeps within your budget, is an important consideration.
To understand what different service and maintenance providers offer, and why their costs might be different, check out this article “5 Factors that Affect the Cost of Planned Preventative Maintenance (PPM) Service Rates”.
What is the quality of products and services the provider is offering to its customers?
With rising costs and tightening measures on budgets, the quality of the products and services a company can provide is as important as ever.
When making considerations for who to work with as your sole provider, it is pivotal to research reviews on the service and products your company of interest specialises in.
Arrange annual audits and meetings with your service provider.
When working with one service provider, it is important to hold your partner to a high standard. Companies can often grow . Making time to schedule meetings with your provider to review KPIs and conduct performance reviews, is a good way to measure progress and ensure your service provider continues to work well for you.
Locking in a Deal
With unpredictable rises in costs that may continue for years to come, it is a positive step for your business to consider the benefits of getting into a long-term deal, at a fixed rate with an excellent provider for your service and maintenance needs.
If you would like further resources and information on how to make the step towards working with a single provider, get in touch with Medaco today. Our team of specialists are happy to help.