In times of crisis, the purchasing department of a company can play an extremely important part

The purchasing department of many great companies, is undervalued and underappreciated, even though it could play a crucial part during these times of crisis, if it were better integrated in the market strategy of companies, according to a KPMG study. Data compiled by The Economist Intelligence Unit for KPMG International show that 75% of senior purchasing executives feel that their company understands the importance of acquisitions related aspects. However, 54% feel that their organization doesn"t understand them.

53% of the respondents who didn"t have any involvement in this position felt that it favors costs over value, while 40% said that this position focuses on conformity rather than innovation.

Also, KPMG specialists consider that a critical area that public purchasing is another area that greatly needs an improvement of management capabilities and a reduction of bureaucracy. The acceleration of the absorption of European funds by the public and private sectors, is vital for the Romanian economy, especially in the context of the global crisis, according to previously mentioned source. The government intends to make some changes to the Law of Public Acquisitions, but they are not focused on the core problems, especially as public debate on this issue was extremely limited, according to KPMG.

KPMG is a global network of companies offering professional audit, tax and business consulting. The company operates in 144 countries. In Romania and the Republic of Moldova, KPMG has six offices in Bucharest, Cluj-Napoca, Constanţa, Iaşi, Timişoara and Chişinău.