2007 will probably be the year procurement outsourcing grew out of the shadows and became a big part of the outsourcing industry. As of now, China is the favored destination for offshoring. Supplymanagement.co.uk reports:
Analysts at the Everest Research Institute say that outsourcing the procurement function of a company could provide five times the savings usually gained from outsourcing other departments. With an incentive like this, it isn't surprising that more buyers and suppliers are attempting to get into the market…Yet cost savings are not the only motivation. Buyers and those further up the corporate hierarchy are pointing to improved efficiency, smarter strategic sourcing and the enhanced compliance that outsourcing brings.
Read more: Buyer, outsource thyself
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