The Endless Benefits of Technology

In the sea of opportunities how companies can benefit from the usage of technology, cost reduction is just one of them.

How to leverage the use of technology in order to improve your cost-saving strategies in the post-pandemic world? What is the most crucial step?

The benefits of technology in business cannot be overemphasised. It increases productivity, speed, ease of sharing and storing information, reduces human error through automation etc. All these benefits lead to lower cost structure and an increase in revenue for businesses.

What are the best short-term and long-term strategies for cost reduction that are necessary to implement during the next few years?

Re-analyse spends, need vs. want. Cut down on unneeded spends by consolidating costs. Retainer fees, negotiate better rate cards and volume rebate scheme.

What are the key issues to be addressed in the procurement field for speeding up the recovery after pandemic losses?

Supply vs. Demand in certain categories, procuring the products is fine; however, shipping logistics can be a challenge post the pandemic losses.

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Jane RANGEL, Global Lead Buyer – Indirect Procurement at Bacardi has over five years of experience in the Alcohol, Finance, Insurance, Wireless Broadband telecom, Aviation and Tourism industry with expertise in Business Administration, HR, Logistics, Marketing, Orders (post sales), Commercial Development and Procurement. She successfully implemented and initiated company-wide staff photo id policy at Redline Communications Inc., came up the MEA local addendum along with the global T&E policy, and MEA travel process for Bacardi and implemented and executed a travel management program for Bacardi MEA with FCm Travel Management Company.