In addition, other categories of spend may fall under the ISP's scope such as maintenance, repair, and operations (MRO) services.
Normally the scope of work (SOW) and the ISP contract are finalized only after an extensive due diligence period.
The ISP provider may be contracted to perform a function or consolidate any number of activities required to support the customer's needs.
An organization would start an ISP program in order to achieve a specific cost savings for its manufacturing facility.
An ISP provider is selected at the owner's facility to conduct due diligence and analyze prior year spend data.