AkzoNobel, the world's largest paint manufacturer, has centralized its procurement operations as part of a plan to save â"šÂ¬ 100m (about $125m) by 2011. Over the past two years the Dutch chemical company has increased the spend controlled by procurement from Ã¢"šÂ¬ 500m (approximately $623m) to at least Ã¢"šÂ¬ 6.5bn ($8.9bn). The firm is also working to establish "key supplier agreements" to forge more productive and innovative partnerships with vendors.
Source: Supply Management