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Companies 'are benefiting from collaboration with suppliers'
A cooperative and collaborative approach to procurement could help companies to experience considerable business benefits.
This is according to a new report from global management consulting firm AT Kearney, which suggests that the current economy is driving many firms to create more equitable and less adversarial relationships with suppliers.
It highlighted analysis of 13 major organisations with consistently high levels of procurement performance, noting that these firms tend to align procurement strategy with their overall company goals.
The businesses were noted as being forward-thinking, open to collaboration and diligent about risk management, which is helping them to achieve key advantages over their rivals.
"These practices helped the 13 leading companies deliver nearly 60 percent higher returns on their companies' investments in procurement assets," said the report.
Earlier this month, the Chartered Institute of Purchasing and Supply noted that procurement staff are becoming increasingly in demand in the UK.
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Categories: Functional Practices