Toshiba trims fatty excess
Japan - Toshiba Corp is planning to cut its procurement costs by 1 trillion yen (US$11.73 billion) over the next three years.
The company is looking to reduce spend in its home electronics business by looking for new suppliers in emerging economies.
Toshiba intends to spend 70% of its procurement budget overseas in financial year 2012, which Nikkei Daily reports it is a 13% increase from the last financial year.
Meanwhile, it has placed buyers in India and Vietnam and has plans to station some in Russia and Eastern Europe. It will also tap on local expertise to boost its search for new suppliers.
Toshiba will start its cost-cutting measures with the foreign sub-contractors tasked with designing and manufacturing its electronics.
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