think:act CONTENT Rethinking procurement
When it comes to procurrement, less is more.......sometimes
Over the past two years companies around the world have faced a dramatically changing environment within which to make procurement decisions.
As the global economic crisis sent prices for raw materials tumbling, the pendulum swung decisively in favour of the buyer. But the buyers’ god fortune did not last. It took surprisingly little time for most prices to rebound. Natural disasters and diplomatic decisions further boosted the cost of some raw materials.
It took the Opec oil cartel less than a year to drive oil prices from $30 to $70 a barrel by cutting its production. In China and South America earthquakes shut copper mines, increasing prices in the base metal.
The contrasting developments – windfall profits due to a sharp drop in prices for materials and services combined with the prospect of prices shooting up due to resource scarcity in the medium to long term – mean companies must rethink their purchasing management right now. This is the right time to sustainably ensure and capitalize on the opportunities of recent months.
Over the past two years companies around the world have faced a dramatically changing environment within which to make procurement decisions.
As the global economic crisis sent prices for raw materials tumbling, the pendulum swung decisively in favour of the buyer. But the buyers’ god fortune did not last. It took surprisingly little time for most prices to rebound. Natural disasters and diplomatic decisions further boosted the cost of some raw materials.
It took the Opec oil cartel less than a year to drive oil prices from $30 to $70 a barrel by cutting its production. In China and South America earthquakes shut copper mines, increasing prices in the base metal.
The contrasting developments – windfall profits due to a sharp drop in prices for materials and services combined with the prospect of prices shooting up due to resource scarcity in the medium to long term – mean companies must rethink their purchasing management right now. This is the right time to sustainably ensure and capitalize on the opportunities of recent months.
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