What belongs to "Cost Reduction"?
Cost reductions have direct impacts on the profit and loss statement of a company. In procurement, cost reductions can be organized in various savings categories.
We principally differentiate between:
- historical savings
- budget savings
- technical savings
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Orpheus Glossary
Here you will find important terms related to spend management explained in a clear way. Small knowledge base for quick information or in full for your further education. This controlling glossary is constantly being expanded and improved.
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Read blog articles about spend management, initiative management and data management in procurement, or other articles from our experts.
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