Heightened Visibility
PROCUREMENT
HEADNOTESpend analysis opens the door to successful sourcing strategies.
IMAGEPLANNING TO UNDERTAKE a strategic sourcing initiative? Thinking about reducing the size of an unwieldy supply base you're certain is too fragmented to be beneficial?
With cost reduction a primary tool in many U.S. manufacturers' efforts to improve profitability, it only makes sense for companies to look to procurement initiatives for help. And why not? For most manufacturers, material costs are the primary contributors to their product costs. (According to the most recent INDUSTRY-WEEK/MPI Census of Manufacturers, material costs comprise a median 50% of U.S. plants' costs of goods sold.)
It also only makes sense for accurate expenditure data to drive such cost-savings measures. "It's hard to say what your opportunities are without gaining visibility [to your spend]," says Chris Sawchuk, procurement practice leader at Hackett Associates, an Atlanta-based business process advisory firm.
In addition, make sure to read these articles:
- Hackett: European Leaders in Procurement (UK), "Improving Procurement's Value...
- Research Alert: Hackett Plots Evolution of Procurement's Value Proposition to Drive...
- Supplier diversity pays off
- Higher pay makes procurement staffs more valuable
- Sitting pretty. (Products).
- The HON Co.
- Hackett outlines five stages of top procurement
- Hackett outlines five stages of top procurement
- Office workers cite furniture's importance to their jobs.
- Hackett: Spend Matters Web Log, "LIVE Dispatch: The Mitchell / Sawchuk Tag-Team".
- More than a pretty face.
- Nine tips for low-cost country sourcing
- Top international firms prove that procurement is a good investment
- Supplier diversity pays off
- SUSTAINING LEAN
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- Hackett: European Leaders in Procurement (UK), "Improving Procurement's Value Proposition - Evolution Not Revolution the Key".
- Research Alert: Hackett Plots Evolution of Procurement's Value Proposition to Drive Competitive Advantage, Ensure Long-Term Relevance.
- Hackett: World-Class Procurement Organizations Staff More Strategically: Pay 41% More; Require 50% Less Staff; Invest in Skills.
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