| | DECEMBER 20164Consultants ReviewEditor's NoteProcurement as a Partner in achieving Sustainable Benefits Nandini MukherjeeManaging Editor ConsultantsReviewProcurement can be viewed as a strategic function working to improve the organization's profitability. It is seen as helping to streamline processes, reducing raw material prices and costs, and identifying better sources of supply; in essence helping to reduce the `bottom line'. Procured goods and services already comprise 60 percent of an organization's cost base, and this figure is growing rapidly. At present, organizations are evaluating sustainable cost reduction in all possible areas to improve their competitive position and improve their bottom line. In addition, the economic downturn and changing markets have generated new interesting sustainable savings options, putting the spotlight on the procurement function. Sourcing managers are now wanting to optimize organizational spend and deliver sustainable savings.Sourcing has the potential to contribute significantly towards achieving sustainable cost reduction as savings are directly related to an organization's purchases. The quantum of savings achieved has a bearing on improved shareholder value and profits. Sustainable savings can be achieved through a number of initiatives such as the category approach, supplier engagement, collaborative sourcing, demand management, analysis of value chain, and optimization of sourcing tools and resources. In an era of faster product cycles, global competition and increased risk of supply chain disruption, the challenges for procurement and supply chain leaders are many: they must deliver despite the uncertain business environment, mitigate complex reputational and legal risks, and meet growing demand borne by product proliferation and globalization. To help achieve competitive advantage, expert consultants are can ensure procurement and supply chain leaders respond effectively for lasting success. Believing the same, we at Consultants Review bring to you the list of "25 Most Promising Procurement Consultants". The list intends to help companies create exceptional results through innovative procurement and achieve competitive advantage by transforming the supply chain.Do let us know your thoughts.Vol 2 · Issue 11 · December - 2016 Publisher & Editor Alok Chaturvedi Managing Editor Nandini MukherjeeEditorial Team Amit Naik Akanksha Deepawali Dutta Vikesh Group Art Director Ashok Kumar Sr. Visualiser Maitreyee Visualiser Vignesh Karthigaisamy GM-Sales & Marketing Rohit KumarT : +91-80-46441103editor@consultantsreview.com marketing@consultantsreview.comNo. 124, 2nd Floor, Surya Chambers, Old Airport Road, Murugheshpalya, Bangalore-560017To subscribe: Circulation Manager Magendran Perumal T : +91-80-46441103subscription@consultantsreview.com Cover price Rs 100 per issue.Printed and Published By Alok Chaturvedi on Behalf of SiliconMedia Technologies Pvt Ltd and Printed at Precision Fototype Services at Sri Sabari Shopping Complex, 24 Residency Road Bangalore-560025 And Published At No. 124, 2nd Floor, Surya Chambers, Old Airport Road, Murigheshpalya, Bangalore-560017. Copyright © 2016 SiliconMedia Technologies Pvt Ltd, All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher.
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