Profitable Buying Strategies: How to Cut Procurement Costs and Buy Your Way to Higher Profits
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.
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1 The philosophy and psychology of buying
2 Important buyingrelated concepts
3 Effective tools and techniques
4 The changes that deliver cost reduction
5 Market testing
6 Outsourcing and insourcing
Appendix 1 Service level agreement SLA
Appendix 2 Template for a request for proposal RFP for the supply of goods andor services
Appendix 3 The Chartered Institute of Purchasing and Supply CIPS
Appendix 4 Soft issues impacting on cost reduction drives
Appendix 5 Buying at Sainsburys supermarkets
Appendix 6 Buying at SmithKline Beecham
Appendix 7 Buyer remuneration in the UK