Want more CASH in your FLOW?
Posted on 9th August 2018 at 10:59
No business can afford to ignore its cash flow. Monitoring available cash should be like monitoring your pulse – it’s a crucial health aspect and if ignored can have devastating effects.
There are various activities that can help improve cashflow within the Procurement department which every business should consider:
-Not spending to much on goods & services - regular sourcing & RFQs.
-Controlling Maverick spending - Ensuring you reduce the amount of authorized employees with the ability to spend.
-Extending payment terms with suppliers - Not having to pay for goods & services upfront.
-Being aware of market cost drivers - Cost avoidance on raised raw material prices
-Tail end spend - Less focus in this area can cause large price increases.
At Pro Outsourcing we regularly review ALL costs to our clients businesses and improve CASHFLOW.
We have a proven background in delivering purchasing as a service. Pro Outsourcing use MCIPS qualified staff to manage spend and can implement cost savings projects.
Call today and we can share our numerous case studies highlighting success.
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