In today's challenging business environment a company's success is determined by its ability to utilize all of the assets at its disposal. Yet two assets often neglected by the boardroom are the amount it spends on goods and services and the expertise of the organisation's key suppliers. This highly accessible book will help you understand how to tap into these assets to secure competitive advantage. With application to organisations in all industries across the world, Strategic Procurement details why procurement is critical to successful business performance. It explores the strategic value of procurement to business and the potential for significant cost savings through maximising value from suppliers and third-party spend. Since the 1st Edition of this book, a lot has changed in the world of strategic procurement. While many developments have served to reinforce the business value of good procurement practices, we have also become more acutely aware of the risks associated with poor procurement. On the upside, we have seen an increasing role played by procurement in many recent mega-mergers. On the downside, we only need to look at the supply continuity issues triggered by a string of natural disasters; the reputational issues related to the supply chains of companies such as BP and Apple; and the inadvertent role played by suppliers as the weakest link in cybercrime. The 2nd Edition of Strategic Procurement has been thoroughly updated to reflect these developments. There is a whole new chapter on the role of procurement in delivering successful mergers and acquisitions as well as three new chapters exploring the mitigants to a variety of supplier-related risks. In addition, there are expanded sections on corporate responsibility, procurement proficiency, good procurement across the organisation, and new ways of supplier collaboration. The book includes updated real-life case studies taken directly from the author's work in procurement for leading organisations.