Strategic Purchasing Roadmap - A 7-Step Guide to Cost Optimization

Purchases from external suppliers represent 20% and up to 80% of companies' total revenue and keeping these expenses down is a critical issue for global financial performance and competitiveness. As a result, the requirements of Executive Management with respect to the Purchasing Function have greatly increased over the past few years. The Purchasing department must prove that it can have a positive impact on product quality and innovation, and also EBIT or working capital, and that it is contributing to decision-making regarding the company's strategic investments