From Ariba.com : “In a recent interview with WallSt TV, our companyâ€™s President quoted a stat that really puts the impact of the recession on corporate profits and the opportunity that situation provides for procurement organizations in perspective. Kevin Costello said it takes a â€œ20% increase in sales to create the same profits as a 5% decrease in the cost of goods sold.â€ If that doesnâ€™t scream out for procurement organizations to take the lead in helping their company survive (thrive?) during the current recession, I donâ€™t know what does. After all, how many companies can possibly expect to increase sales in the current environment? But at a time of dropping prices and demand, itâ€™s certainly possible to cut costs.”
STEP 1: GET THE STRATEGIES
Listen as Tim Minahan, CMO of Ariba, identifies the top five strategies leading companies are using to drive continuous cost reductions and performance improvements in the face of a tightening economy.