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Next Wave Sourcing - Reinventing Procurement To Drive
Growth and Profitability |
Over the past 10 years, company procurement departments
have done well, on the whole, in meeting a series of new
challenges. Whether it meant working with an
increasingly global vendor base or managing partnerships
with back-office service providers, procurement
generally accomplished the task at hand. With each
success, the visibility and importance of the function
in the overall organization grew — so much so that
procurement now controls half of the annual budget in
many industries and up to 80 percent in sectors such as
manufacturing and retail.
As confidence in procurement departments soared,
companies counted on them to take on even more
challenging projects. Now, procurement chiefs are being
asked to undertake a host of new responsibilities:
decrease supply chain complexity; speed products to
market; .... And they are experiencing diminishing
returns with yesterday’s best procurement strategies.
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