Procurementnews.eu is an initiative of Procurementnetwork.eu, specialist in Executive search and Consultancy in Procurement and Supply Chain Management
Procurementnetwork.eu is also a new media provider for procurement and supply chain, visit the partner websites
with the navigator on the left and get an overview of all our websites in procurement and supply chain.
News- and information source for Procurement and Supply Chain Management
Siemens wields the axe on suppliers
German technology company Siemens will sever business relations with 20% of its suppliers
this year, to increase the flexibility it has in procurement. The company's chief executive,
Peter Loscher, said that he still expected the company to hit its full year profit forecast of
€8bn - €8.5bn.
Siemens has set up a new supply chain management organisation in November 2008,
appointing former Philips CPO, Barbara Kux, to head up the division that oversees an annual procurement spend of €42bn.
Barbara Kux will announce a new strategy plan for Siemens' procurement department on
29 April, with targets and milestones set until 2010.
Read the complete article