By: Praveen Dahiya and Sakthi Prasad --
26 May, 2019
Procurement Organizations play an important role in managing a company’s cost base, as they largely work with third parties such as suppliers, distributors and contractors.
If Procurement is unable to extract value out of third party relationships—in the form of better costs and payment terms—it could negatively impact the financial results.
For the third year running, the share prices of Best-in-Class companies have collectively outperformed global benchmark indices. This validates our premise: companies that invest in Procurement also tend to create shareholder value.
Overall, seven companies made it to the Best-in-Class list for the past three consecutive years: Carlsberg, Celgene, Constellation Brands, Faurecia, Merck, Owens Corning, and Procter & Gamble.
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