Procure IQ

A recent article in Purchasing on how purchasing learns cost modelling noted that smart buyers are working with engineers, finance and suppliers to identify cost drivers in product development and eliminate them and that Whirlpool was able to close a gap of 30% between the target cost for an aesthetics module on one product and the initial design cost by way of a cross-functional team that included purchasing, marketing, sales, engineering, global design, production, and quality control. This greatly improved Whirlpool's chances of hitting its profit target while saving it a bundle of money up front. The concept, which ...