Small and medium-sized enterprises (SMEs) in the UK could be saving £106bn through smarter procurement, according to research.
The chief procurement officer (CPO) has never wielded more power. Pressure on profits and increasing risk has meant that CPOs have to be innovative, productive and competitive.
According to research, 11% of senior business decision makers thought they could save more than £100,000 by shopping around for better deals. More than two thirds (69%) of SMEs are paying more attention to the amount spent on goods and services than a year ago.
The CPO must negotiate security and cyber-security concerns with suppliers and supply chains, manage the price of supply and drive up competition where necessary. In 2016 chair of the NHS Co-operation and Competition Panel, Lord Carter, suggested that NHS England could save £1bn on procurement if hospitals could sort out their supply-chain issues.
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