Check the currency trap
13 September 2012
Changes to exchange rates can demolish the savings promised by a sourcing strategy. But purchasers can minimise the risk of damage to them and their organisations, says Joan Irving
The planning and implementation of savvy sourcing strategies to ensure consistent and real savings is a pivotal aspect of a purchaser’s job. Yet, no matter how clever, precise or well thought out the strategy, it remains at the mercy of a major gremlin - exchange rates. This can, of course, work both ways, but the negative impact needs to be well understood because...