Taking a Leap in Purchasing

Over the last decade, a small but growing number of chemical companies (for example Dow Chemical, DuPont, ExxonMobil, but also a number of smaller players) have discovered procurement as a virtually untapped source of value creation, and have leveraged it from within their organizations to meet the profitability challenges facing their industry. 

These companies experience shows that cash can be delivered to the bottom line by leveraging the procurement function the total cost of procuring feedstock but also other goods and services such as maintenance, repair, and operations (MRO), logistics, and corporate services can be significantly reduced, making a real, immediate and long-term positive impact on profitability. 

Value Creation Strategiesfor ike Chemical Industry. 2nd Edition. F. Budde, U.-H. Felcht, H. Frankemolle (Eds.) Copyright 2006 WILEY-VCH Verlag GmbH Co. KGaA, Weinheim ISBN 3-527-31266-8 

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A search is much more speculative when bold leaps and wildcat searches in uncharted territories are undertaken. The initiative may be based on rumors of uncertain validity or an inspired hunch. There are no solid reasons to believe that the target can be found in this area thus, there are no explorers and one can purchase property rights at very low costs. Success is unlikely, but when the improbable takes place we would be crowned with glory and profit. 

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