Even though consumables can take up a significant amount of the Procurement Department’s time and can represent a large portion of the budget, the audit trail is difficult to follow.

By the time splintered internal ordering systems and a variety of suppliers are factored in, many are stunned by the size of the drain on their budget. Yet even when these issues are identified, managers often lack the resources and know-how necessary to rein in wasteful expenses.

Benefits of a Review

• Gain control over costs, ordering process and purchasing decisions
  
• Consolidate supply base
  
• Reduce carrying costs (“safety stock”)
  
• Locate and eliminate obsolete or unused inventory
  
• Improve supplier services
  
• Free up capital for other initiatives
  
• Reduce shrinkage
  
• Increase visibility of spend

For more information, contact Marcus Wagner at 713-895-9394 or mwagner@cfw-cpa.com.