Procurement's top line impact

9 November 2009

A story about planned savings at Nokia Siemens Networks caught my eye last week. As well as making an enormous €500 million (£446.9 million) of cost savings through job cuts and business restructuring, it believes it can save more than €500 million extra through better purchasing.

More importantly, it intends to make sure these savings are passed through to customers with cheaper prices for its products.

It will be interesting to see if this comes to pass. Cheaper prices may lead to increased revenue and an enhanced reputation for the company. If the procurement team can prove it was directly responsible for that, it would be a great selling point for the profession.

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