Summary of The Purchasing Machine

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The Purchasing Machine book summary
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Rating

9 Overall

10 Applicability

9 Innovation

8 Style

Recommendation

One of this book’s mantras is that purchasing is a lot more important these days than in decades past. The authors, Dave Nelson, Patricia Moody and Jonathon Stegner, have spent decades in the field of purchasing. Their principal argument is that now that most companies outsource their equipment and even their parts (for example, very few Dell parts are made in-house), purchasing has become not only more important, but a potential source of incredible savings. The dozen companies profiled in this book - which is meant to detail the best practices in purchasing worldwide - have realized millions of dollars in savings simply by optimizing supply-chain management. The authors emphasize that this isn’t an individual task. Change in purchasing management requires an internal team and management support. getabstract.com recommends this book not only to purchasing managers, but to all corporate executives, any of whom will glean some invaluable pointers about how to save money in day-to-day operations.

In this summary, you will learn

  • Why many companies underestimate the importance of purchasing;
  • Why a company’s supply management leader should be a vice-president; and
  • What 20 best practices to implement, one at a time.
 

About the Authors

Dave Nelson a vice president at Deere and Co., previously led the growth of Honda’s purchasing division, which received the Medal of Professional Excellence from Purchasing Magazine. Patricia Moody was profiled by Fortune as one of the 10 pioneering women in manufacturing and is a consultant to such companies as Cisco, Honda and Solectron. Jonathon Stegner is a director of supply management at Deere and a 20-year supply management practitioner.

 

Summary

Procurement Proficiency Produces Profits
Procurement should no longer be seen as a necessary evil or as some minor function that can’t help your company become more competitive. In fact, the crucial step that corporations must take to capture more market share in the 21st century is procurement...

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