New Strategies in Strategic Sourcing - A report prepared in collaboration with D&B

Sponsored By CFO Research Services

Topics:

Accounting > Profit & Loss

Finance & Risk Management > Supply Chain , Expense Management

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Abstract:

It is perhaps the most underused tool a company has for increasing its profit. According to supply management experts, the average company spends 20-30% more on procured goods and services than necessary. Given that procurement typically consumes 50% of a company’s revenues (a figure that reaches 80-90% at certain companies), a well-executed strategic sourcing program can generate millions—if not billions—of dollars in savings.

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