The Power of Purchasing
The IET Engineering Management Magazine
In recent years procurement has gone from being a little-discussed aspect of business to becoming something of a buzzword. In the past, companies would mostly look to make cost-savings from headcount reductions or internal reorganisation. Now they are increasingly turning to procurement and strategic sourcing as a means for cost reduction. When they do, they find that by analysing and rationalising their external spending, they can not only make considerable savings, but that these translate directly to the bottom line without the time lag, redundancy costs, or disruption and loss of capacity sometimes involved in internal cutbacks.
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