According to a team of A.T. Kearney analysts, the “golden age” of purchasing is over — a buyer’s market characterized by RFIs, RFPs, bundled products and services, and multiyear contracts yielding 1- to 3-percent annual price reductions. In its place: a seller’s market fueled by ongoing supplier market consolidation, escalating energy prices and emerging markets’ growing demand for raw materials.
“Suppliers are more powerful than ever,” explains A.T. Kearney Partner Dr. Christian Schuh. “Buyers must adopt new tools and strategies to compete effectively on a new playing field.”
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