Two thirds of finance leaders believe supply chain is a key area to cut costs, a survey conducted at The Economist’s recent CFO Summit has revealed.
In addition, 81 per cent said they believed additional savings could be made through procurement.
When asked which aspect of supply risk they were most concerned about, Finance Professionals highlighted price risk and volatility, followed by reputation risk and security of supply.
The summit brought together 150 chief financial officers, finance directors and other senior finance executives to discuss how finance chiefs guide their businesses towards profitable growth.
Ed Ainsworth, 4C Associates managing director said: “The volatile climate means that although sales growth is difficult to achieve there are a range of cost cutting measures which CFOs can use to drive growth.”