Effective purchasing strategy: the untapped source of competitiveness

Details the results of a new study of European businesses by PIMS Associates and the Chartered Institute of Purchasing and Supply, which highlights the value of a good purchasing strategy, and reveals that very few businesses monitor and look towards developing their purchasing activity. Describes the use of comprehensive cross‐industry benchmarking to assess the effectiveness of a company’s procurement function. Lists the key findings of the survey, and suggests that businesses which invest in making improvements to their supply chain management can significantly increase productivity and profits and achieve leading‐edge company status.