Are You Optimizing Your Indirect Spend?
Ayming's piece in this month's Purchasing B2B Magazine outlines why stiff competition, globalization and reduced margins mean that organizations can no longer ignore the 20 percent of spend that’s not directly linked to production and core products and services.
Too often, indirect expenditure is one of the last areas that companies look at when improving how they manage spend. Given how varied and complex spend categories are, it can be tough to optimize them without deep expertise in each subject area. “When dedicating experts to focus on indirect procurement, savings of up to 40 per cent can be achieved using industry knowledge and benchmarks to effectively map usage patterns and streamline costs.