Smiths Group targets £11 million procurement savings

6 October 2009

07 October 2009 | Jake Kanter

UK technology company Smiths Group aims to save £11 million through procurement next year.

The FTSE 100 firm's preliminary results showed it had cut costs by £9 million in the past 12 months as better data enabled it to use group spending power more effectively.

Smiths has saved a total of £17 million since 2008 through restructuring and it wants to make cutbacks of £50 million over the next two years.

The reorganisation involved increasing procurement collaboration across its five divisions to make savings in IT, utilities, packaging and injections moulding. Further opportunities exist to reduce costs on travel spend and raw material prices.

The supply chain at Smiths Medical also showed improvement after problems last year caused by manufacturing relocations and the implementation of an Enterprise Resource Planning system (Web news, 18 February 2008).

SMoct2009

LATEST
JOBS
Swindon, Wiltshire
upto £40K base (+ Paid overtime and corporate benefits)
Honda Manufacturing Ltd
Kew gardens, Richmond upon Thames, London (Greater)
£37,000 - £42,500 per annum pro rata, depending on skills and experience
Kew Royal Botanic Gardens
SEARCH JOBS
CIPS Knowledge
Find out more with CIPS Knowledge:
  • best practice insights
  • guidance
  • tools and templates
GO TO CIPS KNOWLEDGE