Strategic Sourcing: New Leverage For Lower Travel Costs
- Topics:
- Negotiations and Contracts
- Tags:
- Advertising & Promotion,
- Car,
- CFO Publishing Corp.,
- Channel Management,
- Entertainment,
- Marketing,
- Strategic Sourcing,
- Supplier
- Source:
- CFO Publishing
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Overview: By aggregating their spending, rationalizing their supplier base, and negotiating contracts more aggressively, corporations are finally swinging the balance of power in their favor. Facing a dim near-term outlook for revenues, corporate managers are once again taking a good hard look at their travel and entertainment expenses. Although business travel declined significantly after 9/11, expenses for airfares, hotel rooms, and car rentals continue to make up a large portion of corporate budgets. In the end, negotiating power and the ability to reach more-favorable agreements with suppliers is directly correlated with a corporation's ability to consolidate, command, and analyze its travel data.
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Format: HTML | Date: Dec 2002 | Pages: 3
