Kraft foods said last month it plans to focus on procurement strategies and dramatically reduce its supply base in an effort to cut as much as $300 million from its cost structure. In a presentation to investors, Kraft executives said there were several areas of procurement that could help the company better manage its costs. They included: 1. Leverage scale with reduced number of strategic suppliers across total spend 2. Expand global sourcing and low-cost country sourcing 3. Simplify material and product specifications while maintaining quality 4. Re-engineer processes to reduce inventory.
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