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SIEMENS LOOKS AT PROCUREMENT The company's chief executive, Peter Loscher, said that he still expected the company
to hit its full year profit forecast of €8bn - €8.5bn. Siemens set up a new supply chain management organisation in November 2008, appointing former Philips CPO, Barbara Kux, to head up the division that oversees an annual procurement spend of €42bn. "The speed at which business is changing worldwide has increased considerably," Loscher said. "Against this backdrop of a slowing economy, we have to become more efficient." "Siemens will do better because it started the cost-cutting earlier than others," said Scott Babka at Morgan Stanley. "But in 2010, everybody in the sector will have a hard time." Read the complete article Source: Procurementleaders.com |