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An Idea A Day by David Thompson

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COST CUTTING

BUYER AWARE!

Anne Hawkins

YOU’VE DECIDED THE exact specification of what you need—how do you make sure you’re getting the best value for money?

How do you make the best use of every £1 in your budget?

Use your specialists in the purchasing department.

The idea

All non-payroll expenditure should go through the purchasing department, where there is expertise in identifying alternative sources of supply and negotiating the best deal (not just in respect of price but also with regard to payment terms).

Does this always happen in your business?

It can be very frustrating to find that the buyers have been avidly scrutinising every penny ...

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