Walgreens recently announced their strategy for increasing revenues and cutting costs. And how do they plan to do it? Their “Rewiring for Growth” initiative will target strategic sourcing of indirect spend and plans to reduce corporate overhead in order to save $1 billion annually by 2011.
As we discussed last week and in a recent white […]
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It’s impossible to avoid the headlines - nearly every industry from automotive to consumer goods is facing an increasingly difficult economic environment that shows no signs of improving anytime soon. Widespread commodity price increases, the credit crisis, and the global economic slowdown have combined to put a squeeze on both the top and bottom […]
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In times of uncertainty and rapid change, whether in sales, operations or spend management, fortune favors those who are positioned to confidently take decisive action and efficiently execute decisions.
For Spend Management organizations, spend data is the currency that allows us decide with confidence and move quickly to implement changes to our supply base. Time […]
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In this economy, one thing we can count on is that all organizations will be asked to do is stretch their budgets and increase productivity. And although an efficient procurement department is a net plus on the company’s bottom line, they won’t be immune from the calls to do more with less. So, how do […]
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News this week that Tesco is looking to double its payment terms with suppliers to 60 days should certain raise some eyebrows within (and beyond) cash-strapped food service and retail sectors. Yet, hopefully, it will not cultivate a cult of imitators.
While cash is certainly king in today’s economy, this is not the time to withhold […]
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One last topic from Spend Management Day in Seattle has been in my queue for a while, and that’s the common theme from several presenters towards processes that empower their employees to work on exceptions to the rule rather than repetitive tasks.
A great example is Expedia, whose contracts department handles a staggering 45,000 active contracts […]
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