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In the current economic environment, industrial manufacturers are under pressure to drive immediate and sustained cost savings. In good times, companies tend to pay scant attention to the procurement organization, particularly indirect spend. In tough economic times, however, companies take a closer look at how to not only achieve immediate indirect procurement spend savings, but also how to create sustained results, industrial manufacturing companies can use the downturn as an opportunity to radically rethink their activities and strategies to make fundamental changes around indirect procurement to achieve cost savings.
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