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Purchases are central to business strategy. They are a key performance driver — provided that they play a leading role in cost reduction. However, in today's business arena, business cannot reduce the purchasing function to simply acquiring the best product or service at the best price. Buyers now have input to provide on product development, enhancing profitability, and improving the company's market image.
In order to contribute to the innovation process, they need to constantly help optimize their organizational structure. This optimization process includes integrating standards to guarantee secure purchases, running next-to-perfect supplier sourcing procedures, and implementing a responsible selection policy.