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Adding Value by Defining the right quantity

Adding Value by Defining the right quantity

Adding Value by Defining the right quantity By Haytham Etemad Managing director (ArcBlue Egypt Office)   In these series of articles, we are discussing how procurement department adds value to its organisation, we discussed in earlier articles the overall objective of procurement department, also we discussed adding value by achieving the right quantity, in today’s articles we will discuss how…

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Achieving value for money

Achieving value for money

Achieving value for money   Cost reduction strategy   Cost reduction will be a key objective to support the financial goals of the firm (profitability, liquidity, return on capital invested and so on), even in the public sector (with goals such as value for money service provision and efficiency targets). It will be the cornerstone of business strategies based on…

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Five steps to purchasing cost reduction

Five steps to purchasing cost reduction

Five steps to purchasing cost reduction The following five-step approach attempts to provide a general framework from which individual initiatives can be developed.   Step 1: understand the drivers for reducing cost Purchasing and other stakeholders must be fully committed to the cost reduction process. They therefore need to fully understand where the drivers for reduced cost are coming from.…

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Procurement Objectives

Procurement Objectives

Procurement Objectives   The general objective of purchasing is to obtain the ‘inputs’ required by an organisation for its operations. Different types of organisation will require different types of inputs: a manufacturing organisation may require raw materials or components to make into products; a retail organisation may require finished goods to sell on to consumers; while a service organisation may…

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