Profitable Buying Strategies How to Cut Procurement Costs and Buy Your Way to Higher Profits

Strategic Procurement offers organizations a long term, structured approach to cost reduction, through smart procurement practices. This straight-forward guide to profitable buying strategies provides readers with a thorough understanding of the philosophy and psychology of buying; buying concepts, tools and techniques; changes that deliver cost reduction; market testing; outsourcing and insourcing; negotiation and the legal aspects; and e- procurement. Containing multiple case studies and appendices outlining the successful cost reduction drives of a number of major organizations, Strategic Procurement gives readers a real world explanation of cost reduction and procurement options to help them make their organizations more profitable.For many organizations, the best option for improving profits is to reduce costs. Profitable Buying Strategies presents a long-term, structured approach to cost reduction through smart procurement practices. This straightforward guide provides readers with a thorough understanding of the philosophy and psychology of buying as well as: buying concepts, tools and techniques; changes that deliver cost reduction; market testing; outsourcing and insourcing; negotiation and the legal aspects; and e-procurement. Containing multiple case studies and appendices outlining the successful cost reduction drives of a number of major organizations, Profitable Buying Strategies" "gives readers a real world explanation of cost reduction and procurement options to help them make their organizations more profitable.For many organizations, the best option for improving profits is to reduce costs. This handbook presents a long-term, structured approach to cost reduction through smart procurement practices. It provides readers with a thorough understanding of the philosophy, psychology, and practice of buying.Improving an organization's profitability can only be achieved in three ways: increase prices, increase sales volumes or reduce costs. Competitive pressures are making the first two options increasingly difficult, which leaves cost reduction as the key option available. "Profitable Buying Strategies" shows a long-term, structured approach to cost reduction through smart procurement practices. It straightforwardly explains the philosophy and psychology of buying; buying concepts, tools and techniques; changes that deliver cost reduction; market testing; outsourcing and insourcing; negotiation; e-procurement; and organizational issues. Case studies and appendices outlining the successful cost reduction drives of a number of major organizations provide a real world explanation of cost reduction and procurement options.