Through the agreement, Timken will use Procurian's Specialized Procurement Infrastructure
PHILADELPHIA: Comprehensive procurement solution provider, Procurian (formerly ICG Commerce), has renewed a contract with The Timken Company. Through the new agreement, which extends a 10-year relationship, Timken will use Procurian’s Specialized Procurement Infrastructure to support maintenance repair and operations (MRO), facilities services, logistics, corporate services and capital categories for Timken’s North American operations. The Timken Company manufactures bearings, alloy steels and related components.
“Timken has significantly transformed its business over the last decade and trusted partners have contributed to the pace of our evolution,” said Rory Lubic, vice-president of purchasing for Timken. “More effective cost management will allow us to focus on driving global growth, further diversifying our product portfolio and optimizing business performance while continuing our tradition of manufacturing excellence.”
Timken will use Procurian’s Specialized Procurement Infrastructure to enable its procurement strategy, which is mainly focused on growth in new geographic markets and mergers and acquisitions, as well as reducing its cost structure. Procurian provides access to all the components necessary to optimize indirect spending, the organization said, including specialist teams, real-time market intelligence, comprehensive processes and a set of proprietary tools and technology.
“Through this relationship, we will continue to support Timken’s enterprise growth and bring market insights to continually optimize spending and deliver greater business value,” said Carl Guarino, chief executive officer, Procurian.