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How strategic is your Procurement Policy?

May 03, 2012

As Supply Management recently reported Procurement is becoming ever more strategic. With well over half of CFOs finding their job becoming more strategic and their areas of influence expanding beyond mere cost cutting. A director at CFO Research Services said: “Procurement has traditionally been recognised and rewarded solely on the basis of its cost-cutting ability. But through the productive use of automated systems, the function has been able to move beyond simply meeting savings targets to help address larger, more complex issues such as managing cash and capital, managing risks to business performance, and expanding into new markets or business lines.” This could mean tender writing and tender scoring becomes a far more nuanced process.

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