Why Cost of Goods Sold spend is making an urgent and compelling bid for CPOs’ attention
Supply chain difficulties are having a knock-on effect on price rises, especially for raw materials. Commentators are increasingly discussing the possibility of entering a new commodities supercycle – a cycle of long-term high commodities prices accompanied by wide price swings. This means you will have to contend with increasing price volatility for the foreseeable future.
As a procurement professional, managing your Cost of Goods Sold (COGS) spend has become an urgent concern, especially since COGS accounts for around 65 per cent of spending in many organisations. So what exactly does this mean for your organisation and what should you do about it?
Download this CIPS Download report, produced in partnership with GEP, to learn more about why direct spend needs an urgent refocus, how digital tools can help, the importance of a commodities risk strategy, and when you need to seek outside expertise.
GEP helps global enterprises operate more efficiently and effectively, gain competitive advantage, boost profitability, and maximize business and shareholder value. Fresh thinking, innovative products, unrivaled domain and subject expertise, and smart, passionate people – this is how GEP creates and delivers unified supply chain solutions of unprecedented scale, power and effectiveness.
Named a Leader in Gartner Magic Quadrants, Winner for Best Procurement Software and Best P2P Provider at the World Procurement Awards, Best Procurement Consultancy at CIPS Supply Management Awards, and Best Provider at the EPIC Procurement Excellence Awards, GEP is frequently honored as an innovator and leader in source-to-pay direct and indirect procurement software by Gartner, Forrester, IDC, Procurement Leaders, Spend Matters and CPO Rising.
GEP is also ranked leader in managed procurement services (procurement outsourcing) by Everest Group, NelsonHall, IDC, ISG, HfS and IAOP. In addition, the primary research firm in the management consulting sector, ALM Intelligence, ranks GEP leader in procurement strategy and supply chain consulting. With 21 offices and operations centers in Europe, Asia and the Americas, Clark, New Jersey-based GEP helps enterprises worldwide realize their strategic, operational and financial objectives. To learn more about our comprehensive range of software and services, please visit www.gep.com.
