BUSINESS INFORMATION SHEETS > PURCHASING > Purchasing (PU 2)
Buying power
In the daily drive to improve sales, it is easy to forget what a powerful impact your purchasing has on bottom-line profits. Yet, for many businesses, a 1% cut in costs can have the same impact on profit as a 10% increase in sales.
By analysing and organising the way you make purchases, you can stem the unnecessary flow of money out of your business, letting you put it to better use.
This briefing looks at:
- A co-ordinated approach to purchasing.
- Drafting the spec.
- Finding a supplier.
- Managing stock.
- Supplier relations.
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