Procurement is often a company’s biggest cost item, accounting for as much as 80% of total costs in some industries. Companies seeking savings often look to procurement, but they may find that their procurement organizations are not optimized to make the most of the opportunities. In this video, Bain partners Klaus Neuhaus, Tobias Umbeck and Alexander Schmitz and manager Rainer Gerhard discuss the value of efficient procurement organizations, how companies can reach full potential Bain and how they can make the savings stick year after year.

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