GlaxoSmithKline (GSK) is hoping reduce its costs by focusing on
supply chain continuous improvement.
The pharmaceutical giant said it will target its supply chain in the next step of its cost-cutting efforts.
"Going forward, we continue to apply sustained pressure to GSK's cost base to realise further savings, through improvements in areas such as support functions, supply chain and procurement efficiency," the company said.
Chief executive Andrew Witty said it will particularly look at inventory management, arguing that there are a number of fundamental changes which could be carried out here to improve the supply chain and cut costs.
The plans were announced as part of the company's earnings statement, which showed its profit after tax stood at £1.106 billion in the three months to June 30th.
According to the firm, it monitors companies within its supply chain, auditing 39 existing and potential suppliers in 2010, predominantly from Asia.
If you are interested in learning more about
supply chain strategy, visit our Service page
