Group procurement strategy takes off for Thomas Cook

15 Dec 2010

Source:  Procurement Leaders
Thomas Cook Group has reported that the implemenataion of a group procurement strategy has helped drive "good" cost reductions across all its operating divisions.

The travel company's report for the year ended 30 September 2010, stated: "Good cost reductions achieved in all of our operating segments, assisted by group procurement."  It reported that the moves towards central group procurement formed part of a comprehensive review of the UK cost base to generate annualised savings of between £40m and £50m.

Manny Fontenla-Novoa, chief executive, Thomas Cook Group said: " We have taken further actions to simplify and streamline our UK business resulting in significant cost savings on an annualised basis which will help mitigate input cost pressures and any further deterioration in the trading environment."

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