Realize the benefits
Executives are beginning to understand that procurement is a key part of the business or supply chain process.
It is typical for businesses to spend more than 60 percent of revenue purchasing goods and services; and it is estimated that approximately 70 percent of all potential savings from purchasing can only be achieved through the Strategic Sourcing process.
The results of a well-managed Strategic Sourcing initiative can be impressive and the benefits can be extended well beyond cost reduction.