Implementing a World Class Purchasing Organization

By Martin Murray, About.com Guide

Before implementing any purchasing best practices, there has to be the backing of senior company executives. Without the buy-in of senior executives, including the CEO and CFO, any attempts at developing a world class purchasing strategy will be smothered by middle management. Changes that have to be made in any company must be backed by senior executives in order to achieve results.

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• Executive Buy-In
• Rationalization of Existing Data
• Take Advantage of Vendor Incentive Programs
• Implement Vendor Evaluation
• Hire Purchasing Professionals
• Reducing the Number of Vendors
• Centralized Purchasing
• Getting the Most from Vendors
• Maximizing Technology

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