Whatever the finding of the government-backed investigation, the impact of the high profile allegations aimed at Royal Bank of Scotland with regard to its treatment of small and medium enterprises could have wide-reaching implications.
When procurement has played a vital role in the reversal in fortunes for one of Britain's biggest banks, perhaps there's a lesson for a sector that is only just coming to terms with the functions' abilities.
When the results of the August Procurement Intentions survey were released, one question jumped out from the others: are we seeing the beginning of a cut back in the amount CPOs spend on technology and systems?
The more eagle-eyed among you will have noticed that we published our Procurement Intentions Index graphs late last week. The graphs record changes in CPO strategy intentions over time, and despite being only four months in our Panel’s approaches to some areas are certainly clear.
Most everyone has heard of Goldman Sachs, the global banking and securities firm. And by now, most have probably heard of Greg Smith, former executive director and former head of the firm’s US equity derivatives business in Europe, the Middle East, and Africa.
The panel discussion at this year’s Procurement Leaders Forum focussed on the impact procurement can have on shareholders return and was made up of an eclectic mix of CPOs and chaired by Jean-Francois Baril, former SVP sourcing and procurement at Nokia.
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