In this paper, the true meaning of “procurement value” is explored. If procurement functions and executives are to maximise their contribution to their organisations’ success, it is important that they understand the different ways in which value can be delivered. That goes far beyond just “cost savings”, into areas as diverse as the procurement contribution to internal efficiency improvement, risk management and even staff retention and motivation.
The paper looks at the fundamentals of organisational competitive advantage and the drivers that have been defined for that such as low-cost or innovation strategies. It then considers key metrics such as revenue growth and balance sheet strength that investors and analysts consider when evaluating a rm’s value.
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