FINANCE & SPEND
“ Procurement, finance and treasury should be operating from the same playbook,” David adds.“ That allows companies to make faster, more confident decisions and sustain savings over the long term.”
For Matthias, the change shows up in how procurement and engineering work together.“ Those two functions have to work closely together to ultimately manage material cost,” he says.“ That collaboration is absolutely key.”
He points to the growing complexity facing manufacturers as the real test of a mature procurement function.“ If we did it the same old way in engineering, procurement and supply chain, things would cost three times as much,” he says.
“ It’ s also about sustaining what we can do and what we can afford. If one company only increases prices, that company prices itself out of the market and goes bankrupt. We need to think beyond the edge of procurement.”
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