Manufacturing Industry
CEOs talk more like CPOs on costs, contracts.(Chief Procurement Officer )(Brief article)
Purchasing, March, 2007
By Staff The concerns of procurement executives are slowly hitting the C-suite. CEOs at major companies are watching commodity costs and even contracting practices more closely than ever. The CEO of Pepsi Bottling Group said raw materials costs in 2007 are expected to be "substantially" higher in 2007, cutting into the company's bottom line.
Eric Foss said the costs of raw materials such as aluminum, sweeteners and drink concentrate could rise by $225 million, more than double the increase of $100 million recorded last year. Whirlpool CEO Jeff Fettig said in a recent news report the appliance maker expects additional commodity costs of about $400 million in 2007 because of higher prices for copper, nickel, zinc and steel. Whirlpool's...
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