Stand by your supplier
13 September 2012
Rather than using the downturn as an excuse to attack supplier prices, purchasers need to look for more creative cost-cutting solutions, argues Malcolm Wheatley
Like your first free-fall parachute jump or love, your first economic downturn is always the one you remember best. For many procurement executives, the present doldrums will be just such an experience.
The big question for purchasing and supply management professionals in a downturn is how to treat suppliers. Is this an opportunity to squeeze them until the...