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Saturday, July 05, 2008

Procurement Benchmarking

 

The ability to rapidly and objectively assess how well business processes are performing in relation to overall business value, strategy and competition is crucial to procurement and shows a direct correlation to reducing costs and boosting value.

Benchmarking is a technique used by more and more organisations wishing to evaluate processes in relation to best practice and develop plans on how to adopt such practices.  Benchmarking is often done on a continuous basis so an organisation can challenge their own practices with the aim of increasing certain aspects of performance.


In this Knowledge Group best practice methodologies will be examined, assisting companies to benchmark costs, review their position and that of their competitors.

If you are interested in becoming a member of the advisory board of this Knowledge Group, please contact us on +44 (0) 207 501 0538.

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