Unit operations in dried dairy ingredient manufacture significantly influence sensory properties and, consequently, their use and consumer acceptance in a variety of ingredient applications. In whey protein concentrate (WPC) manufacture, liquid can be stored as whey or WPC before spray drying. The objective of this study was to determine the effect of storage, composition, and bleaching on the flavor of spray-dried WPC80. Liquid whey was manufactured and subjected to the following treatments: bleached or unbleached and liquid whey or liquid WPC storage. The experiment was replicated 3 times and included a no-storage control. All liquid storage was performed at 4°C for 24h. Flavor of the final spray-dried WPC80 was evaluated by a trained panel and volatile compound analyses. Storage of liquids increased cardboard flavor, decreased sweet aromatic flavor, and resulted in increased volatile lipid oxidation products. Bleaching altered the effect of liquid storage. Storage of unbleached liquid whey decreased sweet aromatic flavor and increased cardboard flavor and volatile lipid oxidation products compared with liquid WPC80 and no storage. In contrast, storage of bleached liquid WPC decreased sweet aromatic flavor and increased cardboard flavor and associated volatile lipid oxidation products compared with bleached liquid whey or no storage. These results confirm that liquid storage increases off-flavors in spray-dried protein but to a variable degree, depending on whether bleaching has been applied. If liquid storage is necessary, bleached WPC80 should be stored as liquid whey and unbleached WPC80 should be stored as liquid WPC to mitigate off-flavors.