New global report highlights importance of supply chain risk as cost cutting efforts continue
A new global study identifies cost control and reduction as "the new normal". But the relationship between businesses and suppliers is hanging in the balance as cost-cutting options narrow, and chief financial officers (CFOs) and chief procurement officers (CPOs) of large organisations continue to struggle, despite reports of the economy beginning to lift out of the recession. This is preventing the necessary levels of spend visibility.
According to the report, from procure to pay solution provider Basware and leading academic Mark Frohlich, associate professor of operations management at the Kelley School of Business, CFOs and CPOs continue to apply existing approaches in cost control to tackle the ongoing demands of a tough economic climate.
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