Procurement Lessons Learned from the Economic Downturn (SAP Insider Article)
There are few positives to an economic recession. But one silver lining lies in the lessons learned from those companies that survive despite such challenging business conditions. These lessons are especially helpful to procurement departments, whose budgets are often constrained even when the economy is not in turmoil. So, how have the survivors of the recalcitrant economy pulled through? How have best-in-class companies found new and strategic ways to elevate their procurement proficiencies? To find out, SAP spoke with seasoned procurement executives from companies of various sizes and across several vertical markets. Here we’ll share the top four tactics employed by best-in-class performers, along with the metrics they use to measure their success.