It’s tempting to look at procurement as a function focused on cutting costs, but it can and should do more. Excellence in procurement requires a deeper look at internal needs and supply market capabilities, and better collaboration with suppliers and internal functions. Businesses manage fluctuating prices, volatile markets, changing technology, and increasing globalization through sustainable and efficient procurement solutions that don’t require a sacrifice in quality or service.
One of the biggest challenges in procurement is working with a supplier that has no competitors. How can you beat an unbeatable supplier to remain competitive and reduce your procurement costs?Discover more insights
BCG’s Procurement Excellence Monitor helps businesses assess procurement holistically to identify gaps that, when closed, can deliver dramatic savings.Explore our solutions
An Asian steel manufacturer focused on aggressive end-to-end cost reduction and the security of raw materials. The result? A savings of approximately $50 million per year.Read more about our impact