The buyer and the glory
13 September 2012
For purchasers to succeed, they must follow the same strategy as the business. Otherwise, warns Jon Hughes, their efforts are doomed to failure
It’s a cautionary tale for our difficult times. A senior purchasing director in a struggling multi-purpose retailer started out on a strategy of long-term relationships with the company’s suppliers. Amid a crashing share price driven by weak underlying profitability, outmoded products and poor merchandising, the strategy was turned on its head by the chief executive’...