By: Sakthi Prasad -- Content Manager
18 August, 2016
In collaboration with Praveen Dahiya - Associate Vice President -- FBT & Healthcare
The Best-in-Class (BIC) Index demonstrates the value of efficient procurement organizations. Companies that do better than their peers on the procurement front also tend to create more value for their shareholders. This index is calculated based on a company’s annual performance on key parameters. The COGS as percentage of sales is lower for these companies than their peer group. They also have a better inventory turnover while recording competitive payables ratio compared to the peers. To know more about the BIC Index, please read our blog post Best-In-Class (BIC) Index.