Leading procurement publication CPO Agenda recently highlighted INVERTO’s research into best practice procurement in the retail sector.

Are retail businesses overlooking a golden opportunity to cut costs? With consumer spending down, retail chains must look to new ways to make savings. Adapting the product range or making staff cutbacks are obvious places to start. However, research by INVERTO into the purchasing habits of 16 major retail chain stores shows that companies are failing to realise significant cost savings in sectors not directly related to sales and services.

Highlights of the report include:

·         With the right procurement strategy in place companies were able to
          boost EBIT by 2%

·         Companies studied achieved average savings of 12.4% in the top six cost
          areas

·         In 4 out of 5 companies, over 20% of the indirect spend was bought
          without procurement support

To view and download the INVERTO report into the potential savings and best practice for sourcing goods and services not-for-resale click here 

For further details please do not hesitate to contact Richard McIntosh, Head of INVERTO’s UK practice, via email rmcintoshinverto.com or Kiran Mazumdar, Head of the Retail Excellence Center, via email kmazumdarinverto.com 

To visit CPO Agenda, please click here

---