When oil giants BP and Amoco merged last August, they predicted annual procurement savings of $250 million by 2001. Six months later, BP Amoco’s new supply chain strategy means that it will exceed this prediction.

Procurement jobs could be among the hundreds being considered for cuts at defence and aerospace giant BAE Systems after financial penalties incurred from the late running of a Ministry of Defence contract wiped out the deal’s profits.

The budget left corporate procurement directors with little hope that the government will ease the burden of the impending climate change levy.

A group of London borough councils are to pilot a local government trading exchange.