Friday, May 26, 2006

Hot Procurement Update

Last week I used my Junior High math skills to estimate the impact of increased margin's on HP's (NYSE HPQ) recent 51% earnings increase and speculated on the role that procurement may have played.

Yesterday, Larry Welch confirmed it on Purchasing.com:
"I can say with confidence that much of that improvement has come from cost-cutting, with procurement across the board at HP making a substantial contribution to the results."
This article goes on to describe the steps that HP is taking to transition their leading Spend Management practices from high-ROI initiative to an enterprise-wide embedded business practice by focusing on technology and human capital in concert in 4 critical areas: leverage, compliance, culture and policy.

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