An enormous impact on a company’s profitability comes from its procurement or purchasing process. Some companies are starting to recognize the impact, but most — particularly midsize or small companies — still treat this important process as though it’s unimportant. But, like the fairytale Cinderella, someone needs to do the onerous chores around the castle. Particularly in lean times when an economy is slowing, executives must pay more attention to the possibility of saving millions of dollars in this area.

Read More Cinderella Syndrome