Workforce Workshop

How To Manage Indirect Spend | Episode 037

Episode Summary

Hi everyone, We have already discussed indirect spending in our previous episodes. So, today we are going to discuss ways to manage it. A major component of indirect spending is the MRO supplies - Maintenance, Repair, and Operating. Every organization loses a huge amount in indirect spending as these are seemingly small or insignificant expenses that mount to a large sum at the end of every financial year. But before we move forward to the specifics, let's understand what spend management is? Managing expenditures is the process of collecting, collating, maintaining, analyzing, and categorizing expenditures in order to minimize procurement costs, improve efficiency, monitor and control workflows, and ensure compliance. Thus, listen to the entire audio and learn about how to manage indirect spending.

Episode Notes

Hi everyone,

We have already discussed indirect spending in our previous episodes.

So, today we are going to discuss ways to manage it.

A major component of indirect spending is the MRO supplies - Maintenance, Repair, and Operating.

Every organization loses a huge amount in indirect spending as these are seemingly small or insignificant expenses that mount to a large sum at the end of every financial year.

But before we move forward to the specifics, let's understand what spend management is?

Managing expenditures is the process of collecting, collating, maintaining, analyzing, and categorizing expenditures in order to minimize procurement costs, improve efficiency, monitor and control workflows, and ensure compliance.  

Thus, listen to the entire audio and learn about how to manage indirect spending.

You can always reach out to us through various social media handles. 

The links to all of them are below:

YouTube -  https://www.youtube.com/channel/UCH1ifU2IQKt0ADuTshFw5Jg

Facebook - https://www.facebook.com/WorkforceWorkshop

LinkedIn - https://www.linkedin.com/company/worforceworkshop/

Twitter - https://www.twitter.com/WorkForceShop

Website - https://www.staffactory.com

If you wish to request a particular topic, please fill-up this Request Form.