The week that was: 17 June 08 - 24 June 08
Some industries are fast emerging as being recession proof. Here at Procurement Leaders we last week reported that confectioners Cadburys, and technology-giant Apple, were enjoying better fortunes than most despite the soaring cost of raw materials, leading us to conclude that when times get tough there’s two things people simply can’t do without – chocolate (naturally), and iPods.
Quote of the week - "We have sent out a very clear message that there will not be a quick fix for the issue of the oil prices," European Commission President Jose Manuel Barroso gives European businesses precious little reason for cheer at the end of an energy summit in Brussels.
After years of feast it appears that corporate India is having to adjust to somewhat leaner times. India’s Economic Times recently reported that India Inc. is preparing for a collective tightening of belts as double digit inflation takes its inevitable toll. According to the report, hiring rates have dropped at roughly the same rate that the scrutiny of expenses has risen, causing corporate players in the country to re-appraise their approach. “Companies are also resorting to long-term contracts for raw materials, bulk buying and centralised sourcing to cushion the high costs,” the newspaper says. In other words – it’s wake-up time.
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