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Global procurement 'becoming de facto'


06/06/2007 16:23 
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Sourcing on a worldwide scale is becoming the accepted way to do things, a new survey has revealed.

According to logisticsmanager.com, a study from the Chartered Institute of Purchasing and Supply found that 81 per cent of procurement executives in the UK now source overseas.

It added that 96 per cent believe that there is more to get out of the market in the wake of globalisation - claiming the sector has not yet reached its full capacity.

However, while 40 per cent maintained that cost-cutting was the main benefit of globalisation, 45 per cent commented that efficiency and reduced risk was more important.

"We are seeing that procurement professionals are now realising much greater benefits from sourcing globally," said institute president Gerry Welsh.

Another study from the Chartered Institute of Purchasing and Supply found that the annual growth of take home pay in the UK went down further in May 2007, according to the FT.

 
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