Procurement's Conundrum - Cut Costs While Keeping Long-term Perspective

New York — August 24, 2009 — The global financial crisis has "exponentially" increased pressure on Procurement to deliver cost reductions as businesses struggle to sustain profitability, or even survival, in the face of a turbulent economy, according to the latest survey of chief procurement officers from consulting firm Capgemini.

In its third Global Chief Procurement Officer (CPO) Survey, Capgemini reports that the key to successfully navigating the economy's rapids will be reacting quickly but also attacking the "right" problems. "Winners in the current climate will be those procurement professionals who are able to focus on the real issues and demonstrate an agile approach to adjusting rapidly to the unprecedented challenges facing them," the consultancy writes.