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Group procurement 'can help smaller firms to save'
Collaborative procurement could be instrumental in helping smaller companies to save money and become more competitive.
This is according to the Forum of Private Business (FPB) and Buying Support Agency (BSA), which have suggested that participating in buying groups can offer various efficiency benefits in terms of time and money.
FPB research suggests that 82 per cent of business owners saw the cost of raw materials increase over the past year, but by collaborating with others, economies of scale can be achieved, while also reducing the administrative burden on individual firms.
Moreover, BSA managing director Matt Roper noted that this model will also allow firms to compare prices against each other, giving them greater insight into whether they have secured a good deal.
FPB chief executive Phil Orford said: "Group buying is a real solution to the problem."
Last month, a report from CFO Research Services and business community Ariba has suggested that the availability of more advanced corporate software is making it easier for companies to make strategic decisions on procurement issues.
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