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Good procurement = success

Nick Wildgoose takes a look at procurement and the three areas that are fundamental to business success

Economic analysis

Companies adopting good practice in procurement/supply chain management can generate significant value in terms of cash flow and profitability. The benefit of this can be multiplied when the company is looking to float or to put itself up for sale. Misjudging procurement can seriously damage the business from a financial and reputational perspective. This is particularly true in the uncertain times we currently live in.