The Role of Procurement in Driving Significant Cost Savings
Current economic conditions and a tight credit market are driving CFOs to step-up efforts to preserve cash, control spending and reduce costs. In parallel, there are increased risks associated with cash management, supplier and vendor failures, and fluctuating costs.
As the last recession taught us, many quick cures can cause longer term problems. Hopefully, we have learned the lesson that some strategies are sustainable and lead to a more efficient and competitive business, while some simply do not, but rather present increased risks.