Procurement and 
Contract Management

When procurement is approached as a strategic business function, rather than simply an administrative one, organisations can achieve improved business profitability and efficiency.
2 people in warehouse managing inventory and procurement

Reduce the impact of supply chain and procurement processes on asset performance.

Unexpected downtime in asset-intensive industries is hugely expensive. Beyond the obvious impact of halted production or heavy machinery sitting idle, there is the hidden impacts on business support costs, staff, reputational damage and the cost of fixing the underlying cause of the downtime incident. Supply chain issues are often one of the significant contributors to excessive downtime – many of which can be avoided.

Source to Contract (S2C) procurement processes, as part of an integrated and coordinated effort to achieve value from an organisation's asset, can contribute to assuring asset reliability and avoiding the consequences of unexpected downtime.

S2C refers to the end-to-end processes performed within an organisation to buy goods. It begins with activities such as analysing the product or service requirement and developing a sourcing strategy before obtaining quotes, negotiating a contract, and ultimately awarding the contract to a supplier. Done well, it helps streamline operations, improve response times, reduce material costs and identify better sources of supply.

Optimising asset performance is dependent on effective and strategic S2C processes. This applies not only to the acquisition and disposal of reliable assets, but also to securing and making available the quality services and spares required to maintain asset reliability at the best possible cost.

Optimising S2C processes can ensure complete and accurate job plans align with maintenance strategies, financial systems integration and streamlining processes to evaluate planned versus actual consumption.

COSOL's process consulting team can review your organisation's procurement and contract management practices and provide advice on recommended changes to help find savings in time and cost while contributing to improved performance and reduced risk.

Our procurement and contract management services include:

  • Process Audits
  • Procurement Strategy Development
  • Sourcing
  • Vendor Management
  • Contract Management
  • Contract Compliance
  • Procurement Risk Management.

    Automate the procurement process by having the right supplier contracts in place.


    Refreshed Source to Contract practices can improve efficiency and reduce costs, with a direct impact on the bottom line.


    Implement processes that ensure contracts are fair and equitable and mitigate risks in supplier relationships.


    Negotiate and fully utilise mutually beneficial contracts that help build a strong, reliable and cost-efficient supply chain.


    Procure the right type and quantity of spares that support maintenance and operations teams in reducing asset downtime.


    Better manage rotable/repairable or stored spares to reduce stock wastage and cost.

IBM EAM Solution Brief


Contact our asset management process experts to learn more about how we can help embed asset management best practice processes into your organisation.