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How SMEs can improve their bottom line through procurement

In an article published in Business Reporter for The Sunday Telegraph, Toby Munyard and Tim von der Decken discuss how SMEs can leverage procurement to drive cost savings and efficiencies, and gain a competitive edge.
In today’s uncertain political and economic environment, it is particularly important for SMEs to ensure that they have effective procurement processes in place which enable them to increase efficiencies, minimise costs, reduce capital requirements and, in turn, increase the return on capital. Having these processes in place also allows organisations to review the dependencies of their supply chain and explore access to alternative suppliers in the event of market disruption – satisfying the risk requirements of large clients. For SMEs wanting to use procurement to reduce costs, there are a number of key areas to review.
 
 


If you would like to find out more about how SMEs can drive value from procurement, please get in touch.

Separation anxiety: Ensuring successful separation and optimising costs in a carved-out business
Case study
Separation anxiety: Ensuring successful separation and optimising costs in a carved-out business

A carved-out IT services business engaged Efficio to help them manage the procurement challenges arising from the separation and to support the set-up of a new procurement team, in a challenging timeframe.

 Tesco and Carrefour to combine purchasing power
Insight
Tesco and Carrefour to combine purchasing power

French supermarket giant Carrefour and Tesco have announced plans to form a long-term strategic alliance to leverage their joint purchasing power with suppliers.

Driving value at an advanced equipment manufacturing business
Case study
Driving value at an advanced equipment manufacturing business

The merger of two advanced equipment manufacturing companies presented significant procurement opportunities – and challenges. Efficio designed and implemented a solution that gave the merged business a new platform to achieve its growth plans.

Watch out for cosy deals and handshakes
Insight
Watch out for cosy deals and handshakes

Published in Raconteur's Future of Procurement, Ian Bolger is quoted on the importance of balancing personal business relationships and an ethical approach to procurement.