Purchasing can be a strong lever for creating value. As it stands, business have many, as yet untapped potential sources of savings. The purpose of Purchasing Divisions is no longer limited as it was in former times to being as efficient as possible in procurement. These divisions are now tasked with ensuring that the whole business operation is effective when it comes to purchasing.
What is more, by enhancing their management of supplier relations, firms can heighten their strengths and channel them into innovation, generate new opportunities and set up new economic models (primarily by improving the way they share risks).